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Solana Outage Raises Concerns About Network Scalability
Blockchain

Solana Outage Raises Concerns About Network Scalability

Solana, a blockchain known for its speed and scalability, recently experienced a significant outage, leading to scrutiny and debate within the crypto community. This outage resulted in over 75% of transactions failing, sparking concerns about Solana's ability to handle high volumes of activity. Cause of the Outage: Software Limitations and Tech Debt Austin Federa, Head of Strategy at the Solana Foundation, attributed the congestion to limitations in the software system's ability to manage current traffic. He acknowledged a trade-off between prioritizing new features and essential maintenance, which has led to "tech debt" within Solana's architecture. Developers Working on Solutions to Address Congestion Despite the setback, developers are actively working on improvements. Federa assure...
From Boom to Bust: A Timeline of the Terra-LUNA Crash and SEC Investigations
Blockchain

From Boom to Bust: A Timeline of the Terra-LUNA Crash and SEC Investigations

In 2024, cryptocurrencies are again experiencing a bull run, and the Crypto Winter is no longer fresh in everyone's memory except for those who lost a significant amount in 2022. Three Arrows Capital and Coinbase Ventures still remember. Lightspeed Ventures Partners and Galaxy Digital also remember, particularly Galaxy's CEO, Mike Novogratz, who got a LUNA tattoo as a reminder to remain humble when investing. Looking back at the Terra-LUNA crash is essential because it's still unclear who caused it. Read Also: Singapore-based Exchange WEEX Joins Forces with Terra Classic Community to Burn LUNC Tokens In May 2022, the crypto market lost $60 billion due to the failure of TerraUSD, an algorithmic stablecoin, and LUNA, another cryptocurrency. Both were created by Terraform Labs (TFL) ...
Unleashing the Power of NFTs: Exploring Tensor (TNSR) on Solana
Blockchain

Unleashing the Power of NFTs: Exploring Tensor (TNSR) on Solana

Bitget, a renowned cryptocurrency exchange and Web3 company, has recently added Tensor (TNSR) to its platform, offering Solana users an advanced NFT marketplace that caters to both traders and creators. The addition of Tensor to Bitget's platform is a significant boost to the exchange's offerings, as it expands its NFT marketplace and provides users access to one of the most advanced NFT marketplaces available on Solana. Tensor offers a robust marketplace experience, with unparalleled liquidity across the Solana ecosystem and coverage of over 30,000 collections, making it easy for traders to explore a wide range of NFTs. The platform has a lightning-fast, composable user interface that ensures real-time updates, providing a seamless trading experience. The advanced functionality of T...
Breaking News: Slothana Shatters Records with $10 Million in Presale
Blockchain

Breaking News: Slothana Shatters Records with $10 Million in Presale

Slothana ($SLOTH) is a new Solana-based meme token that has gained significant popularity in recent times. The platform raised over $10 million through its unique presale model. The token’s main idea revolves around an ‘office sloth’ character who wants to leave the 9-5 grind and enter into crypto trading. Users can buy $SLOTH by sending $SOL to the token address or using the homepage widget. The $SLOTH tokens are airdropped directly to the user's wallet, eliminating the waiting time for the presale to end. Currently, early buyers can get 10,000 $SLOTH for just 1 SOL. https://twitter.com/SlothanaCoin/status/1772350526635610558 Next Solana Meme Token to Go Viral After $SLERF? Meme coins have traditionally been created on Ethereum using the ERC-20 standard, but Solana is now emerging...
In-Depth Analysis: The Impending Crypto Surge’s Impact on Solana’s Dominance
Blockchain

In-Depth Analysis: The Impending Crypto Surge’s Impact on Solana’s Dominance

Cryptocurrency enthusiasts are observing a shift in the market, with new coins showing potential to challenge the top performers. Solana has been a notable name, but new contenders are poised to rise in the bull run of 2024. This article delves into which tokens could see significant growth and what that means for Solana's position in the market. Unveiling the Viral Phenomenon: BlastUP's $4 Million Success Story BlastUP, the premier launchpad on Blast, has raised $4 million in just a few weeks, attracting smart investors who recognize its potential. BlastUP token holders enjoy participation in an Airdrop, exclusive loyalty rewards for participating in IDOs, and the ability to earn interest through staking. Read Also: Solana (SOL) Price Soars, Nears $150 Resistance Level Backed by B...
Solana Price Stalemate: Bullish Flag or Bearish Whales?
Blockchain

Solana Price Stalemate: Bullish Flag or Bearish Whales?

Solana (SOL) is caught in a tug-of-war between bullish and bearish signals, leaving investors unsure how to respond.  Analysis identified a bullish flag pattern for SOL, suggesting a potential price rally past $200. This technical indicator points towards a breakout following a period of consolidation. Read Also: XRP Struggles to Regain $1 Glory, Analysts Divided on April Prospects Dominant Buyers, But Whale Activity Threatens Despite a recent market-wide correction, it was discovered that buyers remain dominant for SOL. However, reports of whales transferring SOL to exchanges raise concerns about increased selling pressure shortly. The H12 swing low sits at $162.45. A drop below this level would flip the market structure to bearish. Conversely, breaking and retesting the up...
Terra Classic Community Sees Security Boost with Terraport Launch
Blockchain

Terra Classic Community Sees Security Boost with Terraport Launch

The Terra Classic community is celebrating a significant security improvement with the upcoming launch of Terraport, a decentralized finance (DeFi) platform built on the Terra Classic blockchain. According to a tweet by Rexyz, a network developer, Terraport has achieved an impressive 86.50% security score on pre-launch tables, placing it at 17th out of 380 projects. If Terraport maintains this score upon full launch, it would rank within the top 230 DeFi projects out of nearly 12,000 evaluated by Certik, a leading blockchain security firm. Read Also: XRP Poised for Surge Above $13 on Complex Elliott Wave Pattern, Analyst Claims https://twitter.com/RexYellerBelly/status/1774475926169927856 This news is a major win for Terra Classic, which currently sits below 50% on the same Certik crit...
Terra Classic (LUNC) and USTC Surge on News of Do Kwon’s Release
Blockchain

Terra Classic (LUNC) and USTC Surge on News of Do Kwon’s Release

The Terra Classic (LUNC) and USTC ecosystems witnessed a significant price increase following the news of Do Kwon's release from Montenegrin custody. While Do Kwon and Terraform Labs severed ties with Terra Classic, the news sparked a surge in buying activity, leading to notable token gains. Read Also: Unleash Your Creativity & Boost Income with the Resellable Mega Digital Product Bundle! Market Reaction to Do Kwon's Release LUNC Up 20%: CoinMarketCap data shows LUNC experienced a substantial 20% price increase. While profit-taking has moderated the initial spike, LUNC currently trades at $0.000155. Trading Volume Soars: LUNC's trading volume also saw a dramatic 200% increase, settling at a still-impressive 53% gain over the last 24 hours. USTC Climbs: USTC mirrored the ...
Terra Classic (LUNC) Drops KYC Requirement for L1 Developers in Surprise Move
Blockchain

Terra Classic (LUNC) Drops KYC Requirement for L1 Developers in Surprise Move

The Terra Classic (LUNC) development community took a sharp turn on KYC (Know Your Customer) requirements for L1 developers. In a surprising move, proposal 12033, which mandated KYC, was repealed following a tweet from TerraCVita, a prominent voice in the Terra Classic community. Read Also: Terra Classic (LUNC) Shows Resilience with Surge in Holders, Price Uptick https://twitter.com/TerracVita/status/1770881735586119920 This reversal comes amidst ongoing efforts to rebuild trust and transparency within the Terra Classic ecosystem after the May 2022 collapse. The previous KYC requirement aimed to introduce accountability among developers. However, concerns arose regarding potential privacy limitations and hindered innovation. The repeal of the KYC proposal signifies a shift towa...
Do Kwon to Face Charges in South Korea After Extradition Battle
Blockchain

Do Kwon to Face Charges in South Korea After Extradition Battle

Do Kwon, the founder of TerraForm Labs, is set to be extradited to South Korea to face charges related to the 2022 collapse of the Terra ecosystem. This comes after a Montenegrin appeals court rejected Kwon's attempt to overturn a lower court decision favouring South Korea's extradition request. Read Also: Terra Luna Classic (LUNC) Burns Over 31 Million Tokens in a Single Day Dueling Extradition Requests The United States and South Korea sought Kwon's extradition following his March arrest in Montenegro. Initially, a Montenegrin court sided with the U.S. However, Kwon's lawyers successfully appealed, leading the court to name South Korea as the receiving country. South Korea argued their case was stronger due to the alleged crimes primarily occurring within their jurisdiction. Final ...