| Down but not out 🔌 Solana just had its first major outage in a long time after the network temporarily stopped processing transactions for 5 hours. As expected, users began panicking, causing the price of the network's native token, SOL, to dip by 2.8% from $96.07 to $93.37 after the outage was officially confirmed by engineers within the Solana ecosystem. However, the network has successfully restarted after a new software upgrade was deployed to Solana's validators.
Since then, the price of SOL has rebounded back to $95.85 as of today. While the team is currently working on a root cause report, which will be made public, several researchers may already have an idea of how the outage happened.
According to Matthew Sigel, the head of digital assets research at VanEck, the ' Berkeley Packet Filter' or BFP, used to deploy, upgrade, and execute programs on Solana, had failed.
He also added that the issue may be related to a previous Solana Improvement Proposal (SMID), which changed some of the features of the BFP, including adding a blocker that prevented metadata from being used as it was no longer needed.
Interestingly, this flaw in the program was noticed earlier on Solana's testnet, where a patch had already been created, but it was not implemented due to further testing.
Editor's Take:
It's been a year since Solana had its first major outage, but luckily, this time, the downtime wasn't as long as the previous outage, which lasted almost 19 hours. In any case, now that the network is back and running, it seems that users aren't leaving just yet, as other than the temporary price action, the network saw little change in TVL after the restart. | | | ETH "restaking" and LRTs (Liquid Restaked Tokens) are one of the newest narratives to emerge. Learn what it is and how it works in this video. | | | ERC-404 found 🖼️ Fungible non-fungible tokens?
Devised by the Pandora team, ERC-404 is a new Ethereum token standard that aims to bridge the gap between the existing ERC-20 and ERC-721 token standards, allowing for native liquidity and fractionalization for NFTs. To keep things simple, it essentially allows users to trade their tokens on AMMs like Uniswap or NFT marketplaces such as OpenSea.
For example, if you purchase one whole token through Uniswap, you will receive one Pandora token and one random Pandora NFT, which will be minted from a smart contract. However, if you choose to sell one token or fractions of it such that you have less than one whole token in your wallet, then the NFT will be burnt.
Conversely, if you purchase fractions of the token until it reaches or exceeds one whole token, you will also get a randomly generated NFT with its own set of traits.
As such, you can opt to continuously buy and sell tokens to try your luck at getting a rarer NFT.
Note that you can keep your rarer pieces by transferring them as NFTs to a different wallet, not as tokens, as it will trigger a burn and mint event.
Since its launch, the PANDORA token has surged by 587% from $1,542 to $10,604 per token/NFT today, resulting in other derivatives popping up, like DeFrogs and Anons. | | | Liquity is a DeFi platform that lets users borrow against their ETH to generate a dollar-pegged stablecoin, LUSD. Learn about Liquity, LUSD, and Chicken Bonds. | | | In Other News... Saylor continues buying BTC. In January, MicroStrategy acquired an additional 850 BTC for $37.2 million and now holds 190,000 BTC.
Another airdrop! 'Heroes of Mavia', a recently released mobile strategy game, airdrops tokens to 100,000 gamers and Mavia NFT Owners.
Objection! Digital Currency Group (DCG) has objected to Genesis, its collapsed subsidiary, proposing a plan to reimburse customers, arguing that certain former clients would receive excessive funds.
The competition heats up. Decentralized Twitter rival Bluesky has finally opened its app to the general public right as Farcaster, another decentralized social app, gains steam.
Reducing friction. Crypto wallet Metamask has integrated trading platform Robinhood into its product to allow customers to purchase digital assets with less hassle.
What comes around goes around. South Korea arrests Haru Invest executives over alleged $826M embezzlement.
| | 🦎Tell us what you think! We've just revamped our newsletter with a new and fresh format!
Whether you're a long-time subscriber or just passing by, do let us know if you like the changes and what we can improve on! | |
|
|
|
0 Komentar untuk "🦎🚀 Airdrops didn't break the chain, but this did? 📉"