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New Altcoin Built on Solana Is Surging After Receiving Support From Crypto Exchange Binance
"A new altcoin built on the Solana (SOL) network is surging after being listed on the global cryptocurrency exchange Binance.
"Launched in December of last year, the Bonfida (FIDA) product suite was built with three main objectives targeting the future of decentralized finance (DeFi) within the Solana realm.
According to the Binance announcement,
- “Bonfida is an ecosystem built on Solana and consists of products including:
- An on-chain perpetual swap.
- Solana name service for auctioning and transacting readable Solana addresses.
- Bonfida Bots which allow users to automate trading strategies and do copy-trading on Serum DEX.' ”
https://dailyhodl.com/2021/09/30/new-altcoin-built-on-solana-is-surging-after-receiving-support-from-crypto-exchange-binance/
Chainlink Awards Grant to the Blockchain for Social Impact Coalition (BSIC)
"The combination of blockchains, oracles, and APIs offers society a new hybrid smart contract infrastructure, capable of hosting tamper-proof digital agreements that are fully integrated with legacy systems and reliably enforced without a central administrator. While hybrid smart contracts can improve efficiency and limit the counterparty risk of existing business processes, they can also support new technological solutions for social good that go beyond material gains. This is why the Chainlink Community Grant Program has launched a Social Impact Initiative centered around creating a more economically fair world using hybrid smart contracts, both to stimulate major technological leaps in emerging markets and drastically reduce systemic risk in developed markets.
In support of fostering social impact through hybrid smart contracts, we’re excited to award a social impact grant to the Blockchain for Social Impact Coalition (BSIC) and sponsor teams in its Decentralized Impact Incubator. As part of the grant, Chainlink will join BSIC as a coalition member, enabling us to support, mentor, and lend expertise to BSIC and the many development teams in its Decentralized Impact Incubator program using Chainlink to build blockchain-based solutions. Most notably, Chainlink can accelerate the overall education process for how to utilize oracle solutions in hybrid smart contract applications across social impact verticals."
https://blog.chain.link/chainlink-awards-grant-to-the-blockchain-for-social-impact-coalition-bsic/
Ethereum killers Solana and Cardano battle for higher DeFi share amidst market meltdown
o Cardano lost its spot as the third-largest cryptocurrency during sell-off in the overall crypto market.
o Analysts expect Solana to finish the month higher than it started, SOL has posted over 37% gains in September.
Solana has offered the second-highest risk-adjusted returns in the past 30 days, Cardano and Ethereum lag behind.
https://www.fxstreet.com/cryptocurrencies/news/ethereum-killers-solana-and-cardano-battle-for-higher-defi-share-amidst-market-meltdown-202109291525
Chainlink price attempts breakout, but LINK is capped at $30
CRYPTOS | 9/29/2021 8:55:14 PM GMT
"Chainlink price gets massive support against the $22.25 value area.
Bulls push for a close above the Tenkan-Sen at $23.60.
A flash spike in price higher could generate Chainlink bulls a +36% gain from the Wednesday open – but intense resistance would prevent any further increase.
Chainlink could pull off an extreme bullish close today if it remains above $23.02. A close at or above $23.02 would confirm a bullish engulfing candlestick as well as a close above the daily Tenkan-Sen, granting bulls some reprieve."
https://www.fxstreet.com/cryptocurrencies/news/chainlink-price-attempts-breakout-but-link-is-capped-at-30-202109292055
Chainlink Whales Add ‘A Ton’ of LINK After Weak Hands Jump Ship: Crypto Insights Firm Santiment
"Crypto insights firm Santiment says that Chainlink whales have just added a huge amount of LINK to their wallets over the past week.
Santiment tells its 96,000 followers that while the decentralized oracle network’s price action has been modest of late, Chainlink whales abruptly scooped up nearly 3.5% of the total supply of LINK."
Chainlink Whales Add ‘A Ton’ of LINK After Weak Hands Jump Ship: Crypto Insights Firm Santiment
We just have to wait for investors to sober up and understand that blockchain's future doesn't depend on China. This is obvious to some of us, but still.....look at the prices of crypto because of China.
Crypto will recover from China’s latest ban, says report
"Cryptocurrency will recover from China’s latest ban. This is according to a report on CoinTelegraph that chronicled the last 12 years of China’s clampdown on cryptocurrency."
https://punchng.com/crypto-will-recover-from-chinas-latest-ban-says-report/
Are Bitcoin and Crypto Prices Totally Dependent on China?
https://www.investopedia.com/news/price-cryptocurrencies-totally-dependent-china/
‘Solcial’ Raises $2.9M to Build Censorship-Free Social Media on Solana
https://www.coindesk.com/business/2021/09/27/solcial-raises-29m-to-build-censorship-free-social-media-on-solana/
Related Story:
Nader Al-Naji (Formerly Known as ‘Diamondhands’) Unveils Long-Term Plan for BitClout Blockchain
https://www.coindesk.com/business/2021/09/21/nader-al-naji-fka-diamondhands-unveils-new-blockchain-long-term-plan-for-bitclout/
"Solana is poised to be one of the best performers this cycle as he believes it is following the footsteps of Ethereum’s 2017 bull cycle".
https://dailyhodl.com/2021/09/26/solana-adoption-speed-is-ridiculous-crypto-asset-is-likely-the-ethereum-of-this-cycle-macro-guru-raoul-pal/
DeFi gaming: A catalyst to mainstream adoption of decentralized finance
"The past few months have seen decentralized finance (DeFi) platforms gain a cult-like following on the backdrop of a bullish cryptocurrency market. That revolution of digital money is now moving into the gaming industry, creating an intersection between DeFi and the gaming experience that experts now predict will play a huge role in the next generation of games.
DeFi-focused tokens such as Polkadot (DOT), Solana (SOL) and Chainlink (INK), to mention a few, have had euphoric moments in the markets, gaining major traction as major developments continue."
https://cointelegraph.com/news/defi-gaming-a-catalyst-to-mainstream-adoption-of-decentralized-finance
DeFi gaming: A catalyst to mainstream adoption of decentralized finance
"The past few months have seen decentralized finance (DeFi) platforms gain a cult-like following on the backdrop of a bullish cryptocurrency market. That revolution of digital money is now moving into the gaming industry, creating an intersection between DeFi and the gaming experience that experts now predict will play a huge role in the next generation of games.
DeFi-focused tokens such as Polkadot (DOT), Solana (SOL) and Chainlink (INK), to mention a few, have had euphoric moments in the markets, gaining major traction as major developments continue."
https://cointelegraph.com/news/defi-gaming-a-catalyst-to-mainstream-adoption-of-decentralized-finance
Brave Browser lives up to its name, picks one more fight with Google
They're going to try to make a video chat platform
https://www.androidpolice.com/2021/09/22/brave-browser-thinks-were-looking-for-yet-another-video-conferencing-platform/
Sommelier partners with Mysten Labs to launch Cosmos smart contracts
https://cointelegraph.com/news/sommelier-partners-with-mysten-labs-to-launch-cosmos-smart-contracts
Altcoins surge as Evergrande crisis cools off, with avalanche, cosmos and polkadot leading the charge
https://markets.businessinsider.com/news/currencies/altocins-avalanche-cosmos-polkadot-dot-solana-sol-surge-evergrande-crisis-2021-9
If you had invested $1000 in Solana Jan. 1, 2021:
"Investing $1,000: On Jan. 1, 2021, Solana had a high trading price of $1.86. An investor who put $1,000 into Solana on the first day of 2021 could have purchased 537.63 SOL.
That $1,000 investment on Jan. 1, 2021 would be worth $84,596.29 today based on a current price of $158.02 for Solana at the time of writing."
https://finance.yahoo.com/news/invested-1-000-solana-jan-193858960.html
-----
Don't wait until you read "If you had invested $2000 in Solana Sep. 20.. 2021 you would have $xx,xxx today.
Oh great.....now some crypto investors think there's a direct correlation between the volatility of the stock market and the crypto market.
Yet another crypto crash for now reason.
Wormhole overview link:
https://wormholenetwork.com/en/
After the bottleneck in testing, the anxious investors that jumped out of Solana don't seem to understand the purpose of testing the crypto platform.....i.e. test network, not live, for transactions per second that can be handled safely; where Solana tests were held.
This is also used for discovery of bugs in the platform which at least one was discovered.
Solana is doing exactly what testing is designed to do.....getting the bugs out BEFORE you go live....evidently this is a new concept to some panicky investors.
This also proves that 50,000 TPS can be handled without risk. The number Solana has touted. When the bug is fixed, that number should dramatically increase...driving Solana even higher.
Wormhole Network Launches Ethereum Solana Bridge, Solana AMM Saber Surpasses $4 Billion TVL
On September 17, 2021, Solana protocol fans were introduced to the launch of the Wormhole Network’s ethereum – solana bridge, which means assets between each chain can be intermingled. The launch announcement notes that Saber, the Solana-fueled protocol with more than $4 billion total-value locked (TVL), will support migration from Wormhole V1 to V2
"Today we’re incredibly excited to announce the launch of our Wormhole Token Bridge starting with Ethereum and Solana,” the Wormhole Network’s Twitter account said. “First up – migration of assets from the soon to be unsupported Wormhole V1 to Wormhole V2 will be available. V1 users will be able to simply exchange their assets for V2 assets at a 1-to-1 rate on wormholebridge.com"
https://news.bitcoin.com/wormhole-network-launches-ethereum-solana-bridge-solana-amm-saber-surpasses-4-billion-tvl/
Cosmos: The Vision (good video, 2:37 min.)
https://v1.cosmos.network/
"Solana Status explained that a large increase in transaction load to 400,000 per second had overwhelmed the network, created a denial-of-service, and caused the network to start forking".
"The team attributes the downtime to a 'bug causing the sequencer to get stuck' after a very large batch of transactions were submitted to the Arbitrum sequencer over a short period of time."
Solana has only claimed it can handle up to 50,000 TPS. That still holds true without incident.
(Ethereum's limitation is 30 TPS while BTS's is 5 TPS).
https://cointelegraph.com/news/solana-and-arbitrum-knocked-offline-while-ethereum-evades-attack
Coin Bureau's excellent video on ATOM.
(19 min. but you'll only need to see the first 5 or 6 minutes to want to buy more).
https://www.coinbureau.com/videos/cosmos-atoms-strong-value-price-potential/
Smashing crypto adoption barrier? Solana aims to do its own ‘thing’
the average cost of a network transaction is $0.00025, according to the Solana website. On Thursday, Sept. 16, it was reporting about 2,000 live transactions per second. It claims to be “the fastest blockchain in the world.” (Ethereum, for example, carries out about 30 TPS, and Visa about 24,000 TPS).
https://cointelegraph.com/news/smashing-crypto-adoption-barrier-solana-aims-to-do-its-own-thing
“On current iterations of the Solana Testnet, a network of 200 physically distinct nodes supports a sustained throughput of more than 50,000 transactions per second when running with GPUs,”
https://www.forbes.com/sites/cbovaird/2021/09/09/why-solana-prices-have-skyrocketed-more-than-13000-year-to-date/?sh=5cab9d6746fd
SkyBridge raises $100M for Algorand fund and files for crypto company ETF
"Speaking to CNBC, SkyBridge founder and former White House Communications Director Anthony Scaramucci said the firm had raised more than $100 million toward the newly announced Algorand fund. He added that the firm currently holds roughly $700 million worth of crypto assets."
https://cointelegraph.com/news/skybridge-raises-100m-for-algorand-fund-and-files-for-crypto-company-etf
Solana is BACK! September 15, 2021
(3:40 excellent video).
You should keep an eye on Brave browser's daily active users.(DAU)
https://bravebat.info/brave_browser_active_users
Why?
"Metcalfe's Law. Simply put, it says that the value of a communications network is proportional to the square of the number of its (active) users.
The law is said to be true for any type of communications network, whether it involves telephones, computers, or users of the World Wide Web.
While the notion of “value” is inevitably somewhat vague, the idea is that a network is more valuable the more people you can call or write to or the more Web pages you can link to."
Basic Metcalfe's law, modified by Serge Bloch then says as active users of a "web browser" linearly. the value of that service goes up exponentially; n log(n)
https://spectrum.ieee.org/metcalfes-law-is-wrong
Brave Passes 36 Million Monthly Active Users
https://brave.com/36m-mau/
I think that article's title should have updated to "was falling". (Published a few days late maybe)?
It had some good points about the proposed changes to the tax code though.
Solana experiences transaction stoppage as developers report ‘intermittent instability’
"UPDATE (9/14 3:15 p.m. EST): In a new statement, the Solana Foundation explained that "Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking."
"This forking led to excessive memory consumption, causing some nodes to go offline. Engineers across the ecosystem attempted to stabilize the network, but were unsuccessful," the group continued. "The validator community elected to coordinate a restart of the network – the community is preparing a new release, and instructions will be posted in Discord."'
https://www.theblockcrypto.com/linked/117624/solana-experiences-transaction-stoppage-as-developers-report-intermittent-instability