https://t.me/Solana_Updates

2022-10-08 05:50:04 Solana's latest downtime caused by code bug and malfunctioning node

The Solana blockchain downtime on Sept. 30 was caused by a bug in the blockchain's code and trigged by a malfunctioning hot-spare node that resulted in duplicate blocks. A hot-spare node is when a validator runs a second node that's online and designed to be used as a backup if the main one fails.

Yet the spare node became active and was running as well as the main one, according to an update from the Solana Foundation. This led to the two nodes submitting different blocks to the network, resulting in parallel blocks. This was handled well for the first 24 hours, as the blockchain ended up choosing between the two alternate blocks, like it would with any small fork in the network. Yet at one point.

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2022-10-07 14:55:04 Solana price has crashed by 75% in 2022

Solana price is having a difficult year as concerns about the network remain. SOL has crashed by more than 70% this year, making it one of the worst-performing big-cap cryptocurrencies in the world. Its market cap has dropped to $12 billion. Solana is one of the biggest blockchain projects in the world. It is a smart contract project that makes it possible for developers to build quality decentralized applications (dApps).

Some of the most popular dApps created in Solana are Solend, StepN, Audius, Brave, and Magic Eden among others. Recently, however, there are challenges in its ecosystem. For example, the total value locked (TVL) in Solana’s ecosystem has dropped from more than $15 billion to the current $1.3 billion. This decline has happened across chains, including Ethereum and Avalanche. Therefore, there are concerns about whether new developers will continue moving to the network.

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2022-10-06 13:35:02 ‘Solana Is Deceptively Designed to Falsely Inflate Usage,’ Alleges Crypto Researcher

CyberCapital Founder and CIO Justin Bons criticized Solana heavily on Twitter, detailing its bad track record of downtime, failures, hacks, and scandals. Founder and CIO of CyberCapital Justin Bons made some stark remarks on the Solana network and its native cryptocurrency (SOL) in a lengthy Twitter post published on Oct. 3.

The crypto researcher said that there was “blatant fraud” involved at the birth of SOL and discussed how there were false statements made with regard to the circulating supply of the cryptocurrency. Bons stated that the team said there was a circulating supply of 8.2 million SOL in April 2020 but that there was actually over 20 million SOL. He also referred to a third party that found an unlocked SOL wallet that had more than 13 million coins. The SOL team responded by saying that these were loaned to a market maker.

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2022-10-05 18:01:39 Solana NFT Ecosystem’s September Growth Rivals Ethereum

Solana kicked off October with an hours-long service interruption — the blockchain’s 12th such outage in 2022 — an especially sour note, especially after a month of surging NFT mints and daily volumes rivaling Ethereum. Solana’s market share of the total trading volume rose from 7% to 24% in the last six weeks, according to Delphi Digital.

Solana in September posted higher daily trades volumes than Ethereum. The number of unique buyers increased by 34% month over month, according to data from Dune Analytics. Ethereum NFT volume may have decreased since April, but the newly-converted proof-of-stake blockchain is still the top dog when it comes to NFT sales. It houses — by far — the most blue-chip collections, including Bored Ape Yacht Club and Crypto Punks. Solana’s less-than-$200 trades and lower gas fees have enabled “more interaction and participation” than the Ethereum network, analytics platform Nansen reported.

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2022-10-05 17:07:02 Solana NFT Ecosystem’s September Growth Rivals Ethereum

Solana kicked off October with an hours-long service interruption — the blockchain’s 12th such outage in 2022 — an especially sour note, especially after a month of surging NFT mints and daily volumes rivaling Ethereum. Solana’s market share of the total trading volume rose from 7% to 24% in the last six weeks, according to Delphi Digital.

Solana in September posted higher daily trades volumes than Ethereum. The number of unique buyers increased by 34% month over month, according to data from Dune Analytics. Ethereum NFT volume may have decreased since April, but the newly-converted proof-of-stake blockchain is still the top dog when it comes to NFT sales. It houses — by far — the most blue-chip collections, including Bored Ape Yacht Club and Crypto Punks. Solana’s less-than-$200 trades and lower gas fees have enabled “more interaction and participation” than the Ethereum network, analytics platform Nansen reported.

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2022-10-04 16:31:52 Solana Updates pinned a photo Open / Comment

2022-10-04 16:31:49 @Solana_Updates your daily news feed about Solana and the whole ecosystem

What is Solana?
Solana is a decentralized blockchain built to enable scalable, user-friendly apps for the world.

Low cost
Solana's scalability ensures transactions remain less than $0.01.

Fast
Solana is all about speed, with 400 millisecond block times.

Decentralized
The network will remain open for applications to run freely and transactions will never be stopped.

Contact for cooperations: @JakeManager Open / Comment

2022-10-04 14:13:02 Solana Says Successfully Completed Cluster Restart After Outage

Solana, a decentralized blockchain built to enable scalable, user-friendly apps, announced on Saturday that its network is back online following an outage on Friday night caused by a misconfigured node that stopped the blockchain from processing transactions. A single misconfigured node took down the entire network – the glitch caused the outage for several hours.

A validator appeared running a duplicate validator instance, which caused the blockchain to fork because validators couldn’t agree on which one was correct. The fork caused an obscure code path that left validators unable to switch back to the main fork. The software and blockchain company Stakewiz, which operates a validator node on Solana, explained the matter online via Twitter social media. Stakewiz suggested the Solana network’s failure to rectify the situation was due to a failed node failover setup.

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2022-10-03 10:55:04 September NFT data wrap: Minting on Solana hits new high

Solana's NFT space saw a surge in minting this month despite NFT market volumes showing little improvement following the crash earlier this year. SudoAMM has conducted $50 million in trading since its launch, proving there's a market for royalty-free NFT trading despite the controversy they generate.

The number of NFTs minted on Solana hit a high of 312,000 on Sept. 7, up from 39,000 just three days earlier. On Sept. 6, Solana-based NFT market volume his $11.5 million, the highest level since May. The surge was likely influenced by the excitement surrounding the y00ts mint. The 15,000-strong NFT collection is a new release from Dust Labs, the team behind the DeGods NFT collection. Solana also saw some increase this month.

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