Blockchain
Solana Network Performance Improves Throughout 1H 2023
The Solana network had 100% uptime in the second quarter of this year, one of several positive advancements in performance stemming from improvements to the Solana network, as detailed in the latest Network Performance Report issued today by the Solana Foundation.
“Solana’s advantages in terms of speed, efficiency and composability are really shining brightly right now,” said Dan Albert, Executive Director, Solana Foundation. “The ecosystem is resilient and the dedication to innovating on Solana is contributing to exciting developments across a number of fronts, including DeFi, NFTs, network infrastructure, decentralized physical infrastructure, and more.”
The updated report by the Solana Foundation details improvements throughout the first half of the year to the Solana network as measured by several metrics, including the ratio of non-voting-to-voting transactions, block production time, and average and max transactions per second. The report also details the latest metrics regarding the decentralization of the Solana network, which showed that Solana continues to be run by a robust group of independent validators around the world and with a large number of open-source developers building applications on Solana.
“Solana is one of the world’s most decentralized proof-of-stake blockchains, and one of the most developed on,” Albert said. “The first half of 2023 presented a number of challenges for the network but the network performed very well and more advancements in the ecosystem are on the way that will further distinguish Solana as the leading decentralized smart contract blockchain.”
The Solana Foundation uses four key metrics to report decentralization and vitality of the network: block-producing validators (1,850), RPC nodes (925), the Nakamoto Coefficient (33), and active open-source developers building on the network (2,053) – all of which compare favorably to other smart contract blockchains.
Stability and reliability were focal points for network improvements during the first half of the year. Several improvements to the core network software upgrade process were implemented following an outage on Feb. 25, including bringing additional external developers and auditors into the release process and improving the server restart process. The network has experienced 100% uptime since then and successfully transitioned network version 1.14 to mainnet.
New innovations also debuted on Solana during recent months, such as state compression, a way to store data directly on-chain that vastly reduces costs and opens up new use cases only possible on Solana. Minting 100 million NFTs on Solana now costs as little as 50 SOL.
The full Solana Network Performance Report can be accessed here.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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