Crypto Market Overview September 5th | Dex-Trade

Crypto Market Overview September 5th | Dex-Trade

65 million SOL transactions per day: Anatoly Yakovenko to Real Vision

In an interview with Real Vision published on August 2, the co-founder and CEO of Solana Labs, Anatoly Yakovenko, said that the SOL coin blockchain can currently be considered the most productive among all existing ones, since about 30 million transactions occur daily in it. The record, according to SEO, was the day when the ecosystem withstood a load of 65 million transactions. Yakovenko said that the daily volume of transactions on the Binance Smartchain is 1/10 of that, while the crypto-silver (ETH) blockchain faces only 1/30 of that load. In fact, the data presented by him suggests that more transactions take place on the Solana blockchain every day than on all other chains combined. “I think some people have seen 10 million packets per second being submitted to a validator. And if there’s a bug in any one of those validators where memory grows really, really quickly or something we didn’t do well for that load, that validator could shut down, it could break, it could run out of memory, for whatever reason. If a third of them do that, then the network is basically stalled until some manual intervention brings it back up. That has happened a couple of times.” — Yakovenko said. In fact, Solana differs from BTC and ETH just in its speed. According to the co-founder of the company, the coin system is designed to mine a new block every 400 milliseconds. If a new block is not mined for 2 hours, the network can be considered “dead.” Therefore, the Bitcoin and Ethereum blockchains are more stable, but much less productive. In this regard, we honestly give away gold in the Ethereum Killer nomination to Solana, which can crumble at any moment…


Hackers Hacked Minister V. Senthil Balaji's Twitter

A group of hackers hacked into the account of the Minister of Energy of the Tamil Nadu Indian state, V. Senthil Balaji, and published three tweets in the middle of the night calling for the use of cryptocurrency. The first tweet states that one of India's two main parties, DMK, has set up its own cryptocurrency wallet and has secured support from party supporters and investors. The second tweet was an announcement of sorts, with the hackers announcing a $1 million fundraiser to help people affected by the COVID-19 pandemic. The latest tweet was that Balaji and like-minded people allegedly opened a cryptocurrency wallet to contribute money to the Help India fund. The politician's account was restored on Sunday afternoon. Regarding the hack, the Minister of Energy spoke in a new tweet on his page: “Dear All, My Twitter account is now recovered and restored. Thanks for your concern and kind support. Many thanks to the state cyber crime wing,  twitter officials and all other Technical Brains.” As expected, the position of the hackers was not even taken into account by the minister.


Michael Saylor Announces Enterprise Application Development with Lightning

At the Baltic Honeybadger conference in Latvian Riga, the co-founder and executive chairman of Nasdaq-listed business intelligence firm MicroStrategy Inc. talked about what exactly his team is going to do to accelerate the corporate implementation of the Bitcoin Lightning Network. According to Saylor, MicroStrategy now has several R&D projects in which the company's specialists are working on the development of enterprise applications using Lightning technology. We are talking about a corporate Lightning wallet, corporate servers for working with crypto, and new methods of authentication using technology. “The advantage of Lightning is not just that you could scale up bitcoin for billions of people, or drive the transaction cost to nearly nothing, but also, the ethos of bitcoin is to go very carefully and not move fast on the base layer without the universal consensus, but in Lightning, you can move much more aggressively developing functionality and take more risks with the applications than you can with the underlying bitcoin layer.“ — Sailor said. Perhaps it was for such a risky position that the businessman was transferred from the position of CEO to the position of executive chairman of MicroStrategy. However, the company is still the largest BTC holder in the world, so he will have to “get out” at least until the end of the “crypto winter.”