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Solana validators play delay games — Toly wants them punished

Solana co-founder Anatoly “Toly” Yakovenko has called for Solana (SOL) validators who delay slots, steal rewards, and slow down the network to be punished. Yakovenko called for the punishments after becoming frustrated at validators using sophisticated delay tactics to gobble up extra fees and high-value transactions. Purposefully delayed slot times have become such an annoyance that one validator created a dashboard to illustrate the problem. Since August 5 — Solana epoch 829 — average slot time has increased 2.5%. “It’s the SOL price that should be rising — not the block time,” someone complained. One observer asked whether the delays could cascade into a “2.0” repeat performance of intentional leader reward boost (ILRB). ILRB is a timing tactic used by validators who want to deliberately delay block production. Extending slot times beyond Solana’s intended 400ms intentionally delays latency and allows them to unfairly pack more trans...

Ethereum Faces Critical Test: Will $3,000 Hold or Break?

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The Ethereum (ETH) network has been on the edge. Several assets over the past couple of months were seen recording new peaks, but ETH was still struggling to reclaim its current all-time high. Amidst this, the Ethereum Foundation continued to sell more tokens. As the community watched the drama unravel in the network, the largest altcoin was slipping down to $3,000. Also Read: OpenAI Faces Major Copyright Battle: Adani (NDTV) & Ambani (Network18) Join Lawsuit Ethereum’s Balancing Act Source: GameSpace According to recent data from CoinMarketCap, ETH had taken a huge hit over the past 24 hours. During the time of writing, the second largest cryptocurrency was trading at $3,113 with a 6% daily drop. Earlier today, Ethereum was priced at a high of $3,343.15 before plummeting to a low of $3,024.09. Source: CoinMarketCap The last drop caused chaos in the market. The total number of long liquidations over the last 24 hours surged to a high of $110.25 million. In addition, $11.27 short p...

Ethereum network fees hit 2023 lows, on-chain activities rise

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Ethereum network fees are currently at their lowest point in 2023. The Ethereum (ETH) blockchain witnessed a significant reduction in network fees, with users paying a mere $1.15 per transaction, Santiment data shows. The current decline in Ethereum’s transaction fees carries with it a historical pattern that bodes well for the network’s utility.  As transaction fees drop, Ethereum becomes a cheaper choice for users to interact with its versatile platform. This development holds the promise of boosting Ethereum’s overall market value. Lately, there has been a notable rise in the level of on -chain transactions within the Ethereum network . The figure, totaling 1,089,893 user active wallets (UAW), marks the second-highest activity level in Ethereum’s history. Blockchain analysts at Santiment noted that such spikes in on -chain activity could be a signal for potential price rebounds. You might also like: Ethereum unveils new testnet called ...

Crypto Biz: Mastercard opens network to USDC, OKX departs Canada, Bitcoin climbs

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Despite global bank turmoil and regulatory crackdowns, traditional and decentralized finance (DeFi) are continuing to blend. Take, for example, the recent issues that Circle-issued USD Coin (USDC) faced when it depegged from the U.S. dollar following Silicon Valley Bank’s collapse. Two weeks later, Mastercard boldly integrated the stablecoin into its infrastructure in the Asia-Pacific region, allowing users to spend USDC through its network. It’s happening, folks! And let’s not forget about Bitcoin (BTC) — that digital gold is still on the rise and decoupling from Wall Street, once again proving its value proposition and prompting calls for a hedge against equity markets in the long run. This week’s Crypto Biz documents the latest developments on worldwide crypto adoption, and how banking system fears impact the crypto space. Banks turmoil and regulatory crackdowns happening worldwide have not slowed down the ongoing blending of traditional and decentralized finance (DeFi). The on-ram...