Blockchain
Solana Developers To Address Transaction Failure Bug By April 15
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,
“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.”
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
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MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase
MicroStrategy has increased its Bitcoin holdings to 214,400 BTC with a recent purchase of $7.8 million worth of the cryptocurrency. This move further solidifies MicroStrategy’s position as a major institutional holder of Bitcoin and demonstrates its continued bullish outlook on the digital asset.
MicroStrategy, a publicly traded business intelligence firm, has been actively accumulating Bitcoin as part of its treasury strategy, viewing the cryptocurrency as a long-term store of value and hedge against inflation. The recent purchase of $7.8 million worth of Bitcoin adds to the company’s already substantial holdings, reaffirming its confidence in the future potential of the digital currency.
MicroStrategy’s ongoing accumulation of Bitcoin reflects a broader trend of institutional adoption and investment in the cryptocurrency space. As more companies recognize the value proposition of Bitcoin as a hedge against economic uncertainty and fiat currency devaluation, they are increasingly allocating funds to acquire and hold the digital asset.
Overall, MicroStrategy’s decision to boost its Bitcoin holdings with a $7.8 million purchase underscores the company’s conviction in the long-term viability and potential of Bitcoin as a strategic asset. This move is likely to further encourage other institutions to explore Bitcoin as a component of their investment portfolios, driving continued growth and adoption in the cryptocurrency market.
Source: crypto.news
The post MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase appeared first on HIPTHER Alerts.
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