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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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PropW Announces Gold Sponsorship at WOW Summit Thailand

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Eric Trump to Speak at Bitcoin’s largest conference in Abu Dhabi this December

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The Bitcoin Conference has announced Eric Trump as a keynote speaker at its upcoming Bitcoin MENA event, to be held from December 9-10, 2024, at ADNEC Centre in Abu Dhabi. Eric Trump’s participation signals a significant milestone for Bitcoin MENA 2024 bringing a wealth of business acumen and leadership experience to the growing bitcoin adoption in the Middle East. 
Following Donald J. Trump’s appearance at Bitcoin 2024 in Nashville this July, The Trump family has shown increasing support for Bitcoin as a way to combat inflation in the U.S..
Eric Trump’s involvement underscores the conference’s growing influence and highlights Abu Dhabi’s emerging role as a central hub in the global Bitcoin economy. As a prominent figure in both business and politics, his insights are expected to resonate with the conference’s focus on Bitcoin’s role in shaping the future of finance in the region, and draw considerable attention from global media and influential business leaders. 
Other notable personalities confirmed to attend the Abu Dhabi edition include Prince Filip of Serbia, Saifedean Ammous, author of The Bitcoin Standard, and Abdulla Al Dhaheri, of the Blockchain Centre Abu Dhabi. This announcement is another step to further solidifying Abu Dhabi’s status as a leading player in the “New Gold Rush” for digital finance. 
With a wealth of energy resources, substantial financial reserves, and a forward-thinking approach to innovation, the UAE is strategically positioned to lead the next phase of global Bitcoin adoption. The UAE’s recent move to introduce zero VAT on Bitcoin gains, is one among many progressive rulings to position the region as a prime destination for Bitcoin innovators, investors, and businesses. With top global and regional voices set to ignite the Bitcoin community with breaking announcements, Bitcoin MENA will offer attendees unparalleled opportunities to network with industry leaders and explore technologies and innovations from across the Bitcoin ecosystem. From exclusive VIP experiences to dynamic expo halls, the event is set to be a defining moment for Bitcoin adoption in the Middle East.

The post Eric Trump to Speak at Bitcoin’s largest conference in Abu Dhabi this December appeared first on HIPTHER Alerts.

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Mauritius Financial Services Sector Report 2024: Competitive Environment, Local and International Influencing Factors, Industry Associations, Outlook, Industry Value Chain

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