“The code for artists/creators to build their own NFT platforms and drops on Solana, such as Candy Machine, is open-sourced, and community events such as Metaplex office hours also help onboard many creative developers to try their hands at creating customized collections and innovate,” he told CoinDesk in a Telegram message. Source
Bank of America digital asset strategist Alkesh Shah has predicted that Ethereum competitor Solana could become the “Visa of the digital asset ecosystem” in a Jan 11 research note. The Solana network launched in 2020, and has since grown into the fifth largest cryptocurrency with a market capitalization of $47 billion. An order of magnitude faster than Ethereum, it has been used to settle over 50 billion transactions and mint over 5.7 million non-fungible tokens (NFTs). Critics however argue its speed comes at the cost of decentralization and reliability but…
“Solana prioritizes scalability, but a relatively less decentralized and secure blockchain has trade-offs, illustrated by several network performance issues since inception,” Shah said. “Ethereum prioritizes decentralization and security, but at the expense of scalability, which has led to periods of network congestion and transaction fees that are occasionally larger than the value of the transaction being sent.” Source
If you have an iPhone and happen to be a fan or active participant of Solana’s systems and apps, you may feel a sense of deja vu when you use them separately at many moments. Do Solana and iOS have a lot in common? It just seems like a hunch. However, after analyzing and comparing the two carefully from the historical and current perspectives, I got an astonishing finding: the previous intuition may be incredibly close to some type of truth. Moreover, a bold prediction came to my mind: one…
The US branch of the world-leading Binance exchange, Binance.US, is opening an office in Portals, the Metaverse platform on the Solana blockchain. Portals is a web-based metaverse platform that allows users to explore buildings and interactive rooms. A cityscape is presented on this platform. Binance exchange is not the only exchange with Portals building space. Chris Lund, Head of Community and Partnerships at Portals, said FTX.US, an offshoot of U.S.-based cryptocurrency exchange FTX, will also establish its own office at Portals. Lund said that: “Binance.US is getting a space…
Crypto exchange Binance.US is building a space in Portals, a metaverse platform built on the Solana blockchain. Portals recreates a dense urban environment where users can explore buildings and interactive rooms. “Binance.US is getting a space in Portals Downtown with a focus on delivering the latest news, charts, and events virtually,” Portals head of community and partnerships Chris Lund said in a Twitter message to CoinDesk. Lund said FTX.US, the U.S. arm of crypto exchange FTX, will also build its own office in Portals. Companies have been rushing headfirst into…
This week Google Trends shows that the acronym NFT, which stands for non-fungible token, has reached a score of 100, the highest score a search query can get from the data analytics aggregator. Meanwhile, statistics indicate that during the last 30 days across ten different blockchains, there’s been $2.73 billion in NFT sales. NFT Monthly Volume Sees Close to $3 Billion in Sales — Axie Infinity, Clonex, MAYC Sales Reign While the crypto economy has seen a downturn, it’s too early to say whether or not it’s affecting NFT sales.…
Solana, a top ten smart contracts-enabled cryptocurrency by market cap, has acknowledged it is facing a series of problems hindering the performance of its network. The official account of the status of the network, as well as the status page, reported this incident yesterday. This is the latest issue Solana is facing after experiencing several network disruptions during the past months. Solana Facing Throughput Issues Solana, a smart contracts-enabled cryptocurrency, has formally acknowledged its network is suffering performance issues affecting the throughput of the system and causing it…
The team behind one of Solana’s largest projects is midway through a $100 million raise to expand operations. According to a press release provided to CoinDesk, the Incentive Ecosystem Foundation, the legal entity staffing the team behind the orderbook-based decentralized exchange, is raising the funds to hire and move into new product verticals, including “NFTs, gaming, metaverse and DAO tooling.” Source
The Solana blockchain has faced its second network performance degradation incident this week. According to Solana, this is happening because of a rise in high compute transactions. As a result, the network capacity, which was originally advertised to be 50,000 transactions per second (TPS), was reduced to several thousand TPS. Solana cited this as the reason why users experienced failed transactions and added that its developers are already working to fix the issues. This latest network issue came only a few days after a similar incident on Tuesday, where users experienced…