<s>
Solana	B-Protocol
is	O
a	O
blockchain	B-Application
platform	O
which	O
uses	O
a	O
proof-of-stake	B-Protocol
mechanism	O
to	O
provide	O
smart	B-Application
contract	I-Application
functionality	O
.	O
</s>
<s>
Solana	B-Protocol
was	O
launched	O
in	O
2020	O
by	O
Solana	B-Protocol
Labs	O
,	O
which	O
was	O
founded	O
by	O
Anatoly	O
Yakovenko	O
and	O
Raj	O
Gokal	O
in	O
2018	O
.	O
</s>
<s>
The	O
blockchain	B-Application
has	O
experienced	O
several	O
major	O
outages	O
,	O
was	O
subjected	O
to	O
a	O
hack	O
,	O
and	O
a	O
class	O
action	O
lawsuit	O
was	O
filed	O
against	O
the	O
platform	O
.	O
</s>
<s>
Solana	B-Protocol
's	O
total	O
market	O
cap	O
was	O
in	O
January	O
2022	O
,	O
however	O
by	O
the	O
end	O
of	O
2022	O
this	O
had	O
fallen	O
to	O
around	O
following	O
the	O
bankruptcy	O
of	O
FTX	O
.	O
</s>
<s>
According	O
to	O
the	O
company	O
's	O
white	O
paper	O
,	O
Solana	B-Protocol
runs	O
on	O
a	O
proof	B-Protocol
of	I-Protocol
stake	I-Protocol
model	O
.	O
</s>
<s>
The	O
New	O
York	O
Times	O
and	O
Financial	O
Times	O
described	O
the	O
coin	O
as	O
an	O
alternative	O
to	O
Ethereum	B-Application
.	O
</s>
<s>
Solana	B-Protocol
was	O
first	O
opened	O
to	O
the	O
public	O
in	O
March	O
2020	O
,	O
with	O
its	O
first	O
block	O
being	O
created	O
on	O
16	O
March	O
2020	O
.	O
</s>
<s>
The	O
Solana	B-Protocol
blockchain	B-Application
was	O
designed	O
to	O
support	O
smart	B-Application
contracts	I-Application
and	O
decentralized	O
apps	O
in	O
particular	O
.	O
</s>
<s>
Large	O
numbers	O
of	O
simultaneous	O
transactions	O
have	O
contributed	O
to	O
several	O
outages	O
of	O
the	O
Solana	B-Protocol
blockchain	B-Application
.	O
</s>
<s>
In	O
June	O
2021	O
,	O
Solana	B-Protocol
Labs	O
sold	O
$314	O
million	O
worth	O
of	O
its	O
native	O
cryptocurrency	O
,	O
SOL	O
,	O
to	O
a	O
group	O
of	O
funds	O
led	O
by	O
Andreessen	O
Horowitz	O
and	O
Polychain	O
Capital	O
.	O
</s>
<s>
On	O
1	O
July	O
2022	O
,	O
a	O
class	O
action	O
lawsuit	O
was	O
filed	O
against	O
Solana	B-Protocol
.	O
</s>
<s>
The	O
lawsuit	O
accused	O
Solana	B-Protocol
of	O
selling	O
unregistered	O
securities	O
tokens	O
in	O
the	O
form	O
of	O
Solana	B-Protocol
from	O
24	O
March	O
2020	O
,	O
onward	O
and	O
that	O
Solana	B-Protocol
deliberately	O
misled	O
investors	O
concerning	O
the	O
total	O
circulating	O
supply	O
of	O
SOL	O
tokens	O
.	O
</s>
<s>
According	O
to	O
the	O
lawsuit	O
,	O
Anatoly	O
Yakovenko	O
,	O
the	O
founder	O
of	O
Solana	B-Protocol
Labs	O
,	O
lent	O
a	O
market	O
maker	O
more	O
than	O
11.3	O
million	O
tokens	O
in	O
April	O
2020	O
and	O
failed	O
to	O
disclose	O
this	O
information	O
to	O
the	O
public	O
.	O
</s>
<s>
The	O
lawsuit	O
claimed	O
that	O
Solana	B-Protocol
stated	O
it	O
would	O
reduce	O
the	O
supply	O
by	O
this	O
amount	O
,	O
but	O
it	O
only	O
burned	O
3.3	O
million	O
tokens	O
.	O
</s>
<s>
On	O
3	O
August	O
,	O
2022	O
,	O
9,231	O
Solana	B-Protocol
wallets	O
were	O
hacked	O
and	O
four	O
Solana	B-Protocol
wallet	O
addresses	O
stole	O
approximately	O
$8	O
million	O
from	O
victims	O
.	O
</s>
<s>
The	O
value	O
of	O
Solana	B-Protocol
tokens	O
has	O
fluctuated	O
greatly	O
since	O
the	O
system	O
's	O
inception	O
.	O
</s>
<s>
The	O
market	O
capitalization	O
of	O
the	O
Solana	B-Protocol
blockchain	B-Application
surpassed	O
$63	O
billion	O
in	O
September	O
2021	O
,	O
and	O
reached	O
$74	O
billion	O
in	O
early	O
November	O
2021	O
,	O
having	O
risen	O
by	O
nearly	O
12,000	O
%	O
that	O
year	O
to	O
a	O
price	O
of	O
$259.96	O
.	O
</s>
<s>
The	O
blockchain	B-Application
's	O
popularity	O
at	O
this	O
time	O
was	O
due	O
in	O
part	O
to	O
interest	O
in	O
NFTs	O
.	O
</s>
<s>
In	O
November	O
2022	O
,	O
the	O
price	O
of	O
Solana	B-Protocol
dropped	O
by	O
40	O
percent	O
in	O
one	O
day	O
following	O
the	O
bankruptcy	O
of	O
FTX	O
,	O
due	O
to	O
sell	O
off	O
from	O
Alameda	O
Research	O
.	O
</s>
<s>
Solana	B-Protocol
was	O
Alameda	O
's	O
second-largest	O
holding	O
at	O
the	O
time	O
and	O
FTX	O
held	O
$982	O
million	O
in	O
Solana	B-Protocol
tokens	O
.	O
</s>
<s>
By	O
the	O
end	O
of	O
2022	O
,	O
Solana	B-Protocol
had	O
lost	O
more	O
than	O
$50	O
billion	O
in	O
value	O
since	O
the	O
beginning	O
of	O
the	O
year	O
.	O
</s>
<s>
Since	O
the	O
start	O
of	O
2023	O
until	O
15	O
March	O
,	O
coinciding	O
with	O
a	O
rise	O
in	O
the	O
cryptocurrency	O
market	O
,	O
Solana	B-Protocol
's	O
value	O
had	O
risen	O
by	O
100	O
percent	O
to	O
a	O
market	O
capitalization	O
of	O
around	O
$7	O
billion	O
.	O
</s>
<s>
The	O
Solana	B-Protocol
blockchain	B-Application
had	O
experienced	O
several	O
notable	O
outages	O
in	O
service	O
.	O
</s>
<s>
On	O
14	O
September	O
,	O
2021	O
,	O
the	O
Solana	B-Protocol
blockchain	B-Application
went	O
offline	O
after	O
a	O
surge	O
of	O
transactions	O
caused	O
the	O
network	O
to	O
fork	O
,	O
and	O
different	O
validators	O
had	O
different	O
views	O
of	O
the	O
state	O
of	O
the	O
network	O
.	O
</s>
<s>
The	O
Solana	B-Protocol
blockchain	B-Application
again	O
went	O
offline	O
on	O
1	O
May	O
,	O
with	O
the	O
outage	O
lasting	O
roughly	O
seven	O
hours	O
due	O
to	O
it	O
being	O
taken	O
offline	O
by	O
bots	O
.	O
</s>
<s>
The	O
blockchain	B-Application
went	O
offline	O
again	O
on	O
31	O
May	O
,	O
2022	O
,	O
due	O
to	O
a	O
bug	O
in	O
how	O
the	O
blockchain	B-Application
processes	O
offline	O
transactions	O
.	O
</s>
<s>
On	O
1	O
October	O
,	O
2022	O
,	O
the	O
Solana	B-Protocol
network	O
went	O
down	O
for	O
6	O
hours	O
due	O
to	O
a	O
consensus	O
bug	O
in	O
the	O
validator	O
client	O
allowing	O
a	O
misconfigured	O
node	O
to	O
publish	O
multiple	O
valid	O
but	O
different	O
blocks	O
.	O
</s>
<s>
Solana	B-Protocol
's	O
outages	O
have	O
frequently	O
resulted	O
in	O
the	O
value	O
of	O
the	O
network	O
's	O
native	O
SOL	O
token	O
falling	O
.	O
</s>
