Tag Archives: solana

Solana – the fast-rising public blockchain platform – has reached an all-time high in TVL on its Defi protocols. This comes amidst a booming cryptocurrency market in which altcoins are beginning to reclaim market share. According to Defi Llama, the TVL in DeFi on Solana reached a new record of $12.7 billion earlier on October 21st. It has since receded to about $12.34 billion at the time of writing. Total Value Locked on Solana. Source: Defi LlamaThis is a greater volume than...

As innovative as it may be, blockchain technology faces particular challenges, including high fees, scalability issues, low throughput, and more. Several projects in the DeFi space compete to become the first web-scalable blockchain and ensure that users have the best experience by tackling these common issues. One of these, which is gaining traction in the DeFi community, is Solana. This open-source, censorship-resistant blockchain leverages a comprehensive set of...

One of the largest short-videos sharing platforms in India – Chingari – has successfully raised $19 million from investors such as Kraken, Alameda Capital, Galaxy Digital, and more. The company aims to launch its own token, enter the NFT world, and tap into the Solana blockchain. Chingari Raises $19M The press release shared with CryptoPotato explained that aside from the aforementioned investors participating in the fund round, other prominent names included Republic Crypto,...

Two of the largest digital wallet providers, namely Skrill and Neteller, will enable their millions of customers to buy and sell Solana’s native token – SOL. This addition comes amid the blockchain project’s rapid rise in terms of adoption and SOL’s price surge as of late. SOL on Skrill and Neteller Aside from allowing customers to interact with SOL, the announcement shared with CryptoPotato explained that both companies will provide direct fiat purchases due to the crypto...

The legendary football player – Tom Brady – once again demonstrated his support towards the digital asset industry. He said he would “love” to receive some of his earnings in Bitcoin (BTC), Ethereum (ETH), or Solana (SOL) tokens. ‘The Digital Age Is Upon Us’ Tom Brady – the seven-time Super Bowl champion and arguably one of the greatest football players – is, by all means, a strong crypto proponent. During a recent interview with Jim Gray on the Let’s Go Sirius XM podcast, he...

Sam Bankman-Fried – CEO of the cryptocurrency exchange FTX – opined that the 17-hour network outage which Solana (SOL) experienced last week was due to its rapid growth. He also said stablecoins are an essential part of the ecosystem and urged the US regulators not to ban them. Solana Was Down Because It Grows Too Quickly In a recent interview for Bloomberg, the Founder and CEO of FTX – Sam Bankman-Fried – shared his stance on hot topics such as Solana’s disruption and...

The team behind Solana yesterday gave a detailed report on how its validators from all over the world rescued the network from an outage that lasted nearly 18 hours. IDO Bots Responsible for Solana’s Downtime According to the report, the network outage was a result of Grape Protocol’s IDO, which launched on the Raydium exchange in the early hours of September 14th. While trying to manipulate the rules of the IDO, several traders used bots to generate limitless transactions,...

SolRazr, a Solana-based venture platform offering a decentralized developer ecosystem, announced today that it is rolling out its launchpad next month for blockchain projects. SolRazr’s Launchpad Set to go Live As per the official announcement, the launchpad, which is scheduled to go live on October 4, 2021, will be used as a fundraising platform for advanced developers who are building projects on the Solana blockchain. As part of efforts to ensure the product is working...

Solana mainnet has stopped processing transactions. The popular blockchain halted over 7 hours ago. Meanwhile, Ethereum layer 2 solution Arbitrum has experienced an outage. Potential Restart Incoming As tweeted by Solana Status, the Solana mainnet began experiencing “intermittent instability” several hours ago, and developers are still getting to the bottom of it. The account followed up two hours later, revealing that “resource exhaustion” was causing a denial of service on...

Solana’s network saw explosive growth this year, but it appears that it’s not just NFTs that are driving it higher. The total amount of USDC that circulates on Solana is now up to $2.5 billion. Data from the Solana explorer reveals that the current supply of USDC on the network is just shy of $2.5 billion. Commenting on the matter was the Co-Founder and CEO at Circle, the company behind the dollar-pegged stablecoin, Jeremy Allaire, who said that the “USDC on Solana jumped...