DeFi News Daily Official TheBitTimes.com

Any casual observer of blockchain dashboards might have been impressed with Solana last week as its 355 million transactions seemingly outpaced all other blockchains across that seven-day period. Supporting the view that Solana needs extra capacity to accommodate demand, engineers implemented SIMD-0207 to increase the blockchain’s block size by 4%.  However, the headline that its transactions surpassed all other blockchains drastically overstates Solana’s meaningful usage . In contrast to Solana’s mostly computational, non-financial transactions, transactions on other blockchains are predominantly authorizations to move actual money.  For example, in contrast to the Bitcoin blockchain, where the overwhelming majority of transactions involve the movement of funds, Solana’s blockchain is mostly filled with “program interactions.” These non-financial voting actions among proof-of-stake participants are tantamount to computers sending commands to one another.  ...

Crypto sleuth ZachXBT has called out a crypto wallet firm Vultisig for crowing about $200,000 it generated in revenue that is largely made up of crypto stolen from Bybit and laundered by North Korea. THORChain founder John-Paul Thorbjornsen claimed the $200,000 in revenue was made through swaps via his multi-chain crypto wallet firm Vultisig. However, ZachXBT noted, “a good chunk of that revenue is being generated from the Bybit hack.” He said, “DPRK has been doing BTC -> BNB or AVAX TC swaps via Vultisig for the past few days in size.” JP I hope you realize a good chunk of that revenue is being generated from the Bybit hack. DPRK has been doing BTC -> BNB or AVAX TC swaps via Vultisig for the past few days in size. pic.twitter.com/yy9S4JRdIm — ZachXBT (@zachxbt) March 20, 2025 ZachXBT’s screenshots show BTC increments worth between $50,000 and $200,000 being swapped with Vultisig.   Read more: FBI confirms North Korean ‘TraderTraitor’ to blame for $...

To check an Ethereum transaction, use a blockchain explorer and enter the transaction hash to view details such as sender/receiver addresses and gas fees. A transaction on the Ethereum blockchain is technically initiated by an external account owner (not a contract). For example, if User A sends 1 Ether (ETH) to User B, the action of debiting from one account and crediting to another changes the blockchain’s state. The change specifically takes place on the Ethereum Virtual Machine (EVM). Ethereum transactions need to be broadcast to the entire network, and any node can broadcast a request for the execution of a transaction on the EVM. After broadcasting the request, a validator can then execute the transaction and propagate the state change to the whole network. Transaction fees are incurred during the process of validation, and each transaction must be included in a validated block. There are different types of transactions on the Ethereum network: Regular transactions: transactions...