Tuesday, February 7

Tag: Solana News

Binance Owned Trust Wallet Announces Its Support For Solana dApps
Blockchain

Binance Owned Trust Wallet Announces Its Support For Solana dApps

Binance’s Trust wallet recently announced that it has added its support for the Solana dApps. The new development was also brought to Twitter by the Trust -  Crypto Wallet. https://twitter.com/TrustWallet/status/1569672369714728964 As stated on its official website on the Tuesday announcement; “You can now connect your Trust Wallet to the top Solana dApps straight through your dApp browser on iOS and Android, or by using the Wallet Connect protocol on your desktop,” Read Also: VALR, A South Africa-Based Exchange To Add Support For Shiba Inu On Sept 13th Following the announcement, Trust wallet disclosed the particular Solana dApps it currently has connection point access to in this initial phase. The list stated by the Trust Wallet contains seven out of the Solana dApps...
Burn NFT is Launching On Phantom To Fight Unwanted Wallet Spam
Blockchain

Burn NFT is Launching On Phantom To Fight Unwanted Wallet Spam

Phantom, the top Solana-based wallet provider introduced an amazing feature in Phantom across all devices. The update was revealed on its official Twitter handle, that the Burn NFT feature has been included in Phantom across all devices to fight the unwanted wallet spam. https://twitter.com/phantom/status/1559944963651211268 The rate at which the bad actors are stealing users’ funds is appalling especially as the crypto ecosystem grows and the fast growth in NFT fame has resulted in the rise of a prevalent avenue of attack for Scammers, Spam NFTs. Read Also: Rep. Tom Emmer Slams The US Treasury Department On The Current Sanctioning Of Tornado Cash The scammers are growing sophisticated every day.  Scammers claim to give users a gift/NFT, once the users click on the l...
Solana’s Exploit Was Isolated To One Wallet On Solana, And Hardware Wallets Used By Slope Remain Secure
Blockchain

Solana’s Exploit Was Isolated To One Wallet On Solana, And Hardware Wallets Used By Slope Remain Secure

Since the attack that occurred in the Solana block on 3rd August, the developers have been on a serious investigation alongside the ecosystem teams and security auditors. As previously reported by Cryptolifedigital on the 3rd of August, The exploit reportedly happened before 5 am and as of 5 am UTC approximately 7,767 Solana wallets have been affected. Read Also: SEC Disagrees With The Ripple's Request To Serve Two Non-Parties Subpoenas To Authenticate Seven Copies Of Video Recordings Of SEC Officials’ Public Remarks Read Also: Shiba-Inu-themed blockchain-based restaurant, Welly Is Now The Most Eaten Fast-food On The UBER EATS With immediate effect, Solana teams, the Engineers from multiple ecosystems, with the help of several security companies investigated the rained wallets...
The New Solana Space Opened To Bring Thousands Of People Per Month To The Solana Ecosystem
Blockchain

The New Solana Space Opened To Bring Thousands Of People Per Month To The Solana Ecosystem

Talking about the new Solana Space opened in the swanky Hudson Yards New York on Thursday, the CEO of Solana Spaces, Vibhu Norby stated that it will introduce up to 100k people every month to the Solana ecosystem which also revealed his intention of opening a virtual storefront in the future. “I don’t think people realize this but we’re going to bring 50 to 100,000 people into Solana every month through these stores — and that’s just this year.” The CEO also said in the course of engaging the community in an impromptu Twitter AMA on launch day that the store is built to teach the new users about how to go about the decentralized applications, dApps. Norby said Solana is home to over a thousand DApps which range from trading platforms, gaming and NFTs down to Social media. htt...
Solana Investors Filed Lawsuit Against Project Insiders For Misleading Statements.
Blockchain

Solana Investors Filed Lawsuit Against Project Insiders For Misleading Statements.

The plaintiff, Mark young, has filed a class-action lawsuit on behalf of Solana investors against the Solana Foundation, Solana CEO, Anatoly Yakovenko, crypto investment firm Multicoin Capital and its co-founder Kyle Samani as well as a trading platform in the Northern District of California, is represented by law firms Roche Freedman and Schneider Wallace.  The lawsuit filed was on July 1st and was a result of Solana labs allegedly making misleading statements and profiting from trading unregistered securities to retailed customers. Read Also: Canada-Based Crypto Payments Platform FCF Pay Has Listed The Complete Shiba Inu Tokens. The plaintiff said the defendants made confusing statements concerning the supply of SOL and its decentralized nature and said company insiders go...
Solana Is Considered Ideal For Athens DAO Because Of Its Cheap Cost And Fast Transaction.
Blockchain

Solana Is Considered Ideal For Athens DAO Because Of Its Cheap Cost And Fast Transaction.

The idealness of Solana for DAO was made known at the Hacker House event organized by Grape, a decentralized social-networking protocol, developers after which a core contributor to Grape, Dean Pappas, said “To experiment in governance and think about all these new ideas, these wacky things, you need very cheap transactions, they need to happen fast, and you need a very good user experience.” Read Also: Cardano's On-Chain Transactions Hit Over 44 Million As It Spiked 5.44% The developers revealed that investment-focused DAO, Athens DAO, considers Solana ideal for Governance and cheap transactions. Compare to the second-largest cryptocurrency, Ethereum, the transaction costs on Solana are low and this has massively supported the high NFT transactions on its network. More also, one...
Solana Mobile, A Subsidiary of Solana Labs, Has Launched Solana Mobile Stack.
Cryptocurrency

Solana Mobile, A Subsidiary of Solana Labs, Has Launched Solana Mobile Stack.

Solana Mobile, a subsidiary of Solana Labs, has launched Solana Mobile Stack. Solana Mobile Stack is an open-source software toolkit for Android allowing the native Android web3 apps on Solana with the seed Vault secure custody protocol that aids immediate signing of transactions while keeping private keys partitioned from wallets, apps, and the  Android operating system. Read Also: Despite The Downsides, Vitalik, Ethereum Co-founder is optimistic About The Ethereum Blockchain. https://twitter.com/solana/status/1540032336594718720 Solana  says, “Solana ecosystem developers have a hunger for constant improvement.” The developer was delayed for too long from creating truly decentralized mobile apps because the existing gatekeeper model apps just don’t work anymore a...
Solana’s 30% Weekly Growth Adds $3 Billion To Its Capitalization And Also Put Cardano And Ripple Under Pressure
Cryptocurrency

Solana’s 30% Weekly Growth Adds $3 Billion To Its Capitalization And Also Put Cardano And Ripple Under Pressure

According to CoinMarketCap, Solana takes 9th position in the total market cap giving up to Cardano, Ripple, BNB Chain, Ethereum, and of course, Bitcoin as the coin gained up to 30% in 7 days. This performance added $3 billion to its capitalization.  Read Also: Lotus, The Iconic British Performance Car Brand To Launch Its NFT In Partner With Ripple A little addition to Solana's price Whenever SOL adds another  $10 to its price per token, Solana will see itself in seventh place, with both Cardano and Ripple behind it. Rising of SOL price by another 35% may be worth what someone bid on, considering the pace at which SOL is rising and the performance of its closest rival in the market cap. Although according to CoinMarketCap, the impressive growth of the SOL price ...
Solana-based DeFi lending protocol Solend has Initiated another governance vote to refute the recently-approved Proposal To Takeover Whale’s Wallets.
Blockchain

Solana-based DeFi lending protocol Solend has Initiated another governance vote to refute the recently-approved Proposal To Takeover Whale’s Wallets.

Solana-based decentralized finance lending protocol Solend has fabricated another governance vote to refute the lately-approved suggestion that allows Solend Labs  “emergency powers” to access a whale’s wallet to avoid liquidation.  Read Also: Shytoshi Kusama, SHIB's lead developer Says Revenue from outside the space "is a good idea." As Talks On The Importance Of Partnership For Shiba Inu Governance vote was created on Sunday by crypto leading platform and titled “SLND1: Mitigate Risk From Whale.” To allow; Solends to reduce the risk that the whale’s liquidation poses to the market by letting the lending the platform access the whale’s walletAnd allow the liquidations to happen over-the-counter (OTC) The reason behind this is; As stated by Solend, if the Solana d...
QUIC Protocol Will Be Implemented on the Solana Network To Eradicate Performance Declination
Blockchain

QUIC Protocol Will Be Implemented on the Solana Network To Eradicate Performance Declination

In the last 10 months, Solana has suffered performance declination on three different occasions; which range from how Solana went down for nearly 17 hours the last September due to the overwhelming traffic emanation from DeFi token launch, to the same downtime that happen recently in April that took 7 good hours and the most recent one in June 1st that claimed hours. The problem was traced to the performance bugs in the blockchain, specifically in the transaction processing unit (TPU). During those times when the system was down, the number of transactions processed per second dropped from thousands to just tens. Read Also: Dogecoin Welcomes Community Feedback On The preview Of The New Dogecoin website. Because of this, Solana developers came together to think of how to eradicate...