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.
Blockchain
Blocks & Headlines: Today in Blockchain (KuCoin, Ripple, Trinity College)
The blockchain world continues to captivate with its blend of innovation, controversy, and global collaboration. In today’s briefing, we spotlight the latest developments, from token launches to regulatory crackdowns and academic partnerships.
KuCoin Introduces Trump Token on Spot Trading Platform
KuCoin has launched the official Trump Token on its spot trading platform, adding a new layer of political intrigue to the cryptocurrency market. Designed to capitalize on the former U.S. President’s enduring influence, the token represents the intersection of digital assets and cultural zeitgeist. While the move has garnered attention, it also raises questions about the broader implications of politically themed tokens in the blockchain space.
Source: PRNewswire
Trump Immortalized on Bitcoin Blockchain
Donald Trump’s image has been etched into Bitcoin’s blockchain, ensuring his face remains a permanent part of the decentralized ledger. This act highlights the creative and often polarizing ways blockchain technology can be utilized for artistic and symbolic purposes. The incident has sparked debate about the ethical and practical considerations of embedding non-financial data in immutable systems.
Source: Decrypt
Ripple Partners with Ireland’s Trinity College
Ripple has joined forces with Trinity College in Ireland to address pressing blockchain challenges. This partnership aims to advance research and develop innovative solutions to improve blockchain technology’s scalability, efficiency, and security. Such collaborations between academia and industry are vital for fostering the next generation of blockchain breakthroughs.
Source: Crypto.News
SEC Takes Action Against Engineer in GME Rug Pull Case
The U.S. Securities and Exchange Commission (SEC) has charged a New York engineer for orchestrating a rug pull involving a cryptocurrency named GME. The incident underscores the ongoing regulatory scrutiny facing the blockchain industry and highlights the need for robust consumer protection mechanisms to prevent fraudulent activities.
Source: Cryptopolitan
The Gambia’s Blockchain-Powered Digital Infrastructure Plan
The Gambia is embarking on an ambitious project to develop blockchain-powered digital infrastructure. This initiative aims to enhance governance, improve transparency, and boost economic growth. By leveraging blockchain technology, The Gambia seeks to position itself as a trailblazer in utilizing decentralized solutions for national development.
Source: Coingeek
Reflections and Projections
The blockchain ecosystem’s diversity is evident in today’s stories. KuCoin’s launch of the Trump Token and the embedding of Donald Trump’s image on the Bitcoin blockchain illustrate the interplay of culture and technology. Meanwhile, Ripple’s academic partnership with Trinity College highlights the sector’s commitment to solving foundational challenges.
The SEC’s enforcement actions remind us of the importance of regulatory oversight in ensuring the industry’s integrity. Lastly, The Gambia’s forward-thinking adoption of blockchain for national infrastructure development serves as an inspiring example of blockchain’s potential to drive meaningful change.
As the industry evolves, the balance between innovation, regulation, and ethical considerations will remain critical.
The post Blocks & Headlines: Today in Blockchain (KuCoin, Ripple, Trinity College) appeared first on News, Events, Advertising Options.
Blockchain
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