Who founded Solana and when was the network launched?
Toly Yakovenko and Raj Gokal founded Solana in 2018. Their San Francisco-based company, Solana Labs, launched the network to the public in March 2020.
Questions about Solana (blockchain platform)
Short answers, pulled from the story.
What is the proof-of-stake model used by Solana blockchain?
The Solana blockchain runs on a proof-of-stake model according to its white paper. This design allows for faster transaction speeds and lower costs compared to competitors.
When did Solana Labs sell $314 million worth of SOL tokens?
In June 2021, Solana Labs sold $314 million worth of SOL tokens to funds led by Andreessen Horowitz. The market capitalization surpassed $63 billion in September 2021.
How many times has the Solana network gone offline since 2021?
The network went offline four times between 2021 and 2022 due to technical failures. Outages occurred on the 14th of September 2021, the 1st of May, the 31st of May 2022, and the 1st of October 2022.
Why was Solana Labs sued in July 2022?
A class action lawsuit filed on the 1st of July 2022 accused Solana Labs of selling unregistered securities from the 24th of March 2020 onward. The suit claimed Toly Yakovenko lent over 11.3 million tokens to a market maker in April 2020 without public disclosure.