Solana Ecosystem
Solana is a high-performance blockchain platform that's designed to achieve scalability, security, and decentralization. It uses a unique consensus mechanism called Proof-of-History (PoH) combined with Proof-of-Stake (PoS) to ensure fast and secure transactions. This page provides an overview of the Solana ecosystem, including project names, descriptions, and interest levels as calculated by the CryptoTotem algorithm. Learn more ↓
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| Project name | Description | Interest lvl | ||
|---|---|---|---|---|
 | Solana (SOL) | Description Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solution ... | Interest lvl | Add to Watchlist |
 | Neon EVM (NEON) | Description Neon Labs is an Ethereum virtual machine on Solana that enables dApp developers to use Ethereum tooling to scale and get access to liquidity on Solana. | Interest lvl | Add to Watchlist |
 | Compendium.Fi (CMFI) | Description The CompendiumFi platform is built for traders using the FTX and Serum ecosystems. We offer a long list of products and strategies to help make crypto tradin ... | Interest lvl | Add to Watchlist |
 | CoreStarter (CSTR) | Description CoreStarter is a cross-chain fundraising decentralized launchpad with a high-yield staking system and NFT Marketplace based on Solana, Polkadot, Ethereum, Binan ... | Interest lvl | Add to Watchlist |
 | Sonic | Description Sonic is a gaming chain built on Solana, featuring the innovative HyperGrid expansion architecture. HyperGrid aids game developers in efficiently processing and ... | Interest lvl | Add to Watchlist |
 | Hawksight (HAWK) | Description Hawksight is backed by Solana Ventures and Terraform Labs to make DeFi accessible to Everyone with Automated Investments & Yield Farming. Our Yield-generating I ... | Interest lvl | Add to Watchlist |
 | FELY | Description Inspired by Felicette, the first cat in space, Fely is the memecoin ready to make crypto history. Join our purr-fect mission to the moon and beyond! | Interest lvl | Add to Watchlist |
 | DOGEN | Description DOGEN a memecoin on Solana. The only one Alpha-dog degen with a strong smell of masculinity and inevitable success. | Interest lvl | Add to Watchlist |
 | Bit Chess (BCC) | Description Bit-Chess is introducing a new way to play and enjoy chess using blockchain technology. | Interest lvl | Add to Watchlist |
 | KebApp (KEBAPP) | Description KebApp is a DePIN project on Solana, decentralizing kebab shops and boosting small owners democracy. | Interest lvl | Add to Watchlist |
 | Soi Finance (SOI) | Description Soi Finance is an IDO (Initial DEX Offering) platform that helps raise decentralized funds for projects on the Solana ecosystem. | Interest lvl | Add to Watchlist |
 | Reign of Terror (ROT) | Description Reign of Terror is an MMO simulation game that takes place in a cyberpunk metaverse. | Interest lvl | Add to Watchlist |
 | Dead Knight (DKM) | Description Dead Knight is a Play-To-Earn NFT gaming ecosystem based on the Solana blockchain with 9999 NFT collectibles, unique randomly generated attributes based on bloc ... | Interest lvl | Add to Watchlist |
 | Carrot (CRT) | Description Carrot is the easiest way to passively benefit from DeFi on Solana. We've crafted a single token that allows you to accrue the highest average yield across the ... | Interest lvl | Add to Watchlist |
 | Catoff (CAT) | Description Catoff is a cutting-edge P2P decentralized application (dApp) that gamifies real-life activities and turns friendly competition into tangible winnings. | Interest lvl | Add to Watchlist |
 | Zephyr (ZEFY) | Description Zephyr is AI-powered trading and guessing space platform brought up by WEB 3 wind of change. We aim to replicate transparent, whales-free, conventional trading ... | Interest lvl | Add to Watchlist |
 | SolStorm (STORM) | Description SOLSTORM - the ultimate gateway to the Solana ecosystem, offering a first fully automated launchpad for any project and user. | Interest lvl | Add to Watchlist |
 | Ozone Metaverse (OZONE) | Description The Ozone Metaverse is a blockchain agnostic, cross chain, metaverse as a service platform powered by NFT and DeFi. | Interest lvl | Add to Watchlist |
What is Solana
Solana is an open-source blockchain platform intended to increase the speed, scalability and security of transactions.
The first mention of Solana was seen in a publication by ex-employee of Qualcomm & Dropbox, Anatoly Yakovenko. This document described the concept of Proof-of-History (PoH) blockchain synchronization. A little later, in 2018, the development of Solana network prototype began and in 2019, during the initial ICO, the team managed to raise 20 million dollars. In 2020 the Solana mainnet was launched.
Fun fact. At the beginning of its road, the project was named Loom, but at the same time the Loom Network project of the same name was already developing on the market. To avoid confusion, the SOL team renamed their project to Solana.
Solana gained huge popularity in the DeFi segment. In 2023, according to some analysts, the number of active users in SOL reached 15.6 million.
Investors & partners
Solana top investors include:
- a16z (Andreessen Horowitz)
- Jump Crypto
- Jump Trading
- Reciprocal Ventures
- CMS Holdings
- Polychain Capital
- Multicoin Capital
- BlockTower Capital
- Distributed Global
- ParaFi Capital
- Ryze Labs
- CoinFund
- NGC Ventures
- Slow Ventures
Also note that SOL has a myriad of strategic partnerships, among them:
- Google Cloud
- Circle
- Discord
- Meta
- Shopify
- Stripe
- Magic Eden
The Solana ecosystem
The SOL project ecosystem covers many areas in the crypto and blockchain industry; DeFi, NFTs, SFTs (Semi-fungible Tokens), Marketplaces, GameFi, infrastructure projects and more…
In fact, Solana provides its own set of tools, technologies and frameworks for game developers, payment systems, applications and ecosystems, which in particular makes SOL the most attractive blockchain on the market.
Worth noting as well is that the Solana ecosystem includes:
- Staking mechanism
- Lending services, e.g. Solend.fi
- DEXes, e.g. Raydium
Key mechanics of Solana
Solana implements several key components for the correct operation of the protocol:
- Tower BFT
- Turbine
- Gulf Stream
- Sealevel
- Pipelining
- Cloudbreak
- Archivers
It is important to note that Solana operates within a hybrid system of consensus mechanisms, which gives it the main features of a high-speed blockchain without violating the principles of decentralization.
SOL is based on the Delegated Proof-of-Stake (DPoS) consensus algorithm, which is combined with Proof-of-History (PoH). This is the main element in the SOL ecosystem.
With these mechanics, network synchronization occurs without the need for Nodes to interact with each other to reach consensus. PoS gives validators the ability to verify transactions while receiving a reward, while PoH actually keeps a record of all events within a certain period of time.
Let’s focus on two more key mechanics. The Solana system Sealevel affects the speed and parallel transaction processing ability. It is used to optimize resources. In turn, Turbine system breaks the information contained in blocks into smaller data packets, distributing them randomly. This approach achieves coverage of up to 40,000 SOL validators.
Benefits of Solana
- Stable scalability
- Unique consensus interoperability model
- High transaction speed
- Low fees
- Flexibility
- Variety of tools and functionality for developers of different levels and directions
- Compatibility
Token SOL
The SOL token is a utility token of Solana network. SOL holders can become validators. In addition, the token is implemented based on the SLP-20 (Solana Program Library) standard, which increases compatibility with smart contracts and makes other processes in the system work more smoothly.
SOL is used to pay commissions in the network and ensure correct operation of consensus. Token is also endowed with a burning mechanism, eliminating increased inflation of the asset.
Conclusion
Solana stands out for its speed of transaction processing and low fees. There are various DeFi and NFT projects in the network ecosystem, and users can also contribute their assets to the staking and maintain the security and proper level of decentralization of the project.
Theoretically, anyone in the community can run a node, but in reality the hardware requirements to keep the network running are quite high. In addition, there have been cases when the network has stopped working for long periods of time due to various malfunctions.