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Blockchain

Solana Developers To Address Transaction Failure Bug By April 15

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Solana developers have set April 15 as the target date for implementing a fix for recent transaction failures and issues that have plagued the blockchain network.

According to Helius Labs CEO, the issues plaguing the blockchain network result from an implementation bug, not a design flaw.

Solana Developers Set Target Date
According to reports, the implementation bug has caused the transaction failure rate on the Solana blockchain to skyrocket. Developers have now confirmed they are looking to implement a fix for the bug on April 15. On April 4, over 75% of non-vote transactions on the Solana blockchain experienced failures primarily due to the surge in activity on the network due to the burgeoning popularity of Solana-based meme coins. However, the failure rate has now dropped to 64.8%, a figure still too high.

Issue Due To Implementation Bug, Not Design Flaw
According to Mert Mumtaz, the CEO of Helius Labs, Solana’s current problems stem from an implementation bug and not a design flaw. Mumtaz stated,

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“Solana’s current issue is not a design flaw; it’s an implementation bug. It is now hitting me that some folks might not understand what we’ve been trying to say by this for the past week. I’ll simplify it (intended for non-technical people) it is important to make this distinction because implementation errors are usually trivial (they can be swapped out for other implementations) — but design errors are generally serious and more fundamental so it is important to not mix them up.”

The Helius Labs CEO added that if needed, the fix could be delayed to address other issues. According to Mumtaz, the issue is primarily related to how the Solana developers implemented QUIC. This Google-developed data transfer protocol loops all other nodes in on the current state of the network. However, he stressed once again that the issue should not be viewed as a design flaw, using a car design analogy to explain the situation.

“All cars have four tires and an engine, but “there are many implementations of the car design,” like BMW, Mercedes, Toyota, F1 and Tesla. If one BMW model is poor at steering, then “we don’t say that all cars are flawed” — instead, we say that specific model is broken and needs a fix.”

Similarly, he stressed that Solana doesn’t have a design flaw and that it just chose a buggy implementation for this specific part of its design, and it needs only a tire change rather than an entirely new model.

“However, that doesn’t mean ‘Solana’ has a design flaw — it means it chose a buggy implementation for this part of its design.”

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According to Mumtaz, QUIC will be reconfigured on April 15 before being replaced by another superior solution at a later date. Solana’s frequent outages and network issues have caused considerable frustration and concern in the community, given its market capitalization of around $80 billion. According to data from DeFiLlama, an additional $4.6 billion in total value is locked on the network.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: cryptodaily.co.uk

The post Solana Developers To Address Transaction Failure Bug By April 15 appeared first on HIPTHER Alerts.

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Blockchain

Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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