31 October 2017
In November of 2017, Anatoly Yakovenko published a whitepaper describing Proof of History, a technique for keeping time between computers that do not trust one another. From Anatoly's previous experience designing distributed systems at Qualcomm, Mesosphere and Dropbox, he knew that a reliable clock makes network synchronization very simple. When synchronization is simple the resulting network can be blazing fast, bound only by network bandwidth.
30 November 2017
New blockchain technique
Anatoly watched as blockchain systems without clocks, such as Bitcoin and Ethereum, struggled to scale beyond 15 transactions per second worldwide when centralized payment systems such as Visa required peaks of 65,000 tps. Without a clock, it was clear they'd never graduate to being the global payment system or global supercomputer most had dreamed them to be. When Anatoly solved the problem of getting computers that don’t trust each other to agree on time, he knew he had the key to bring 40 years of distributed systems research to the world of blockchain. The resulting cluster wouldn't be just 10 times faster, or a 100 times, or a 1,000 times, but 10,000 times faster, right out of the gate!
31 December 2017
Anatoly's implementation began in a private codebase and was implemented in the C programming language. Greg Fitzgerald, who had previously worked with Anatoly at semiconductor giant Qualcomm Incorporated, encouraged him to reimplement the project in the Rust programming language. Greg had worked on the LLVM compiler infrastructure, which underlies both the Clang C/C++ compiler as well as the Rust compiler. Greg claimed that the language's safety guarantees would improve software productivity and that its lack of a garbage collector would allow programs to perform as well as those written in C. Anatoly gave it a shot and just two weeks later, had migrated his entire codebase to Rust. Sold. With plans to weave all the world's transactions together on a single, scalable blockchain, Anatoly called the project Loom.
12 February 2018
On February 13th of 2018, Greg began prototyping the first open source implementation of Anatoly's whitepaper. The project was published to GitHub under the name Silk in the loomprotocol organization. On February 28th, Greg made his first release, demonstrating 10 thousand signed transactions could be verified and processed in just over half a second. Shortly after, another former Qualcomm cohort, Stephen Akridge, demonstrated throughput could be massively improved by offloading signature verification to graphics processors. Anatoly recruited Greg, Stephen and three others to co-found a company, then called Loom.
27 February 2018
Loom rebranded to Solana
Around the same time, Ethereum-based project Loom Network sprung up and many people were confused about whether they were the same project. The Loom team decided it would rebrand. They chose the name Solana, a nod to a small beach town North of San Diego called Solana Beach, where Anatoly, Greg and Stephen lived and surfed for three years when they worked for Qualcomm. On March 28th, the team created the Solana GitHub organization and renamed Greg's prototype Silk to Solana.
27 April 2018
Elevator pitch at Xoogler Demo Day
In April of 2018, Alan the business developer of Solana, gave a pitch session at Google Headquarters in San Francisco.
17 June 2018
Testing transaction speed
In June of 2018, the team scaled up the technology to run on cloud-based networks and on July 19th, published a 50-node, permissioned, public testnet consistently supporting bursts of 250,000 transactions per second. In a later release in December, called v0.10 Pillbox, the team published a permissioned testnet running 150 nodes on a gigabit network and demonstrated soak tests processing an average of 200 thousand transactions per second with bursts over 500 thousand. The project was also extended to support on-chain programs written in the C programming language and run concurrently in a safe execution environment called BPF.
29 July 2019
Solana raises $20M
Between Apr. 2018 and Jul. 2019, the team raised a little over $20 million in various private token sales. They announced the sales as a single Series A in late-July 2019.
29 February 2020
Launch Mainnet Beta
Solana launched on Mainnet Beta in Mar. 2020, shortly after raising $1.76 million in a public token auction hosted on CoinList. The project's beta network featured basic transaction capabilities and smart contract support. But it did not include any staking rewards as Solana was still determining its ongoing issuance schedule. The current plan is to upgrade from its current beta stage to a more production-ready version in either later 2020 or early 2021.
5 May 2020
Explaning proof of history
The core Solana innovation is Proof of History (POH), a globally-available, permissionless source of time in the network that works before consensus. POH is not a consensus protocol or anti-Sybil mechanism. Rather, POH is a solution to the clock problem.
25 March 2021
First NFT project minted
Kreechures are Solana's first crypto-collectible NFT RPG. Built on #Solana. Achievements fueled by $Kin. 1st Mint: March 26th, 2021.
14 September 2021 at 7:11 PM
Solana network goes down after reaching 400K transactions
24 October 2021