Schlagwort: blockchain markets

The temporary disabling of the durable nonce transactions allowed for block production to resume after last Wednesday’s network four and half hour outage.

Solana has disabled the durable nonce transaction feature on its network to prevent future outages similar to what happened last week when it halted for over four hours.

What caused the latest outage?

According to Solana Labs, a runtime bug triggered a situation where failed durable nonce transactions were processed twice, leading to nondeterminism. In this case, validators counted the transaction at two different block heights, with 33% of the validators reportedly accepting the subsequent block to effectively halt the network.

The durable nonce transactions feature was disabled in the v1.9.28/v1.10.23 releases as part of the restart after the 1 June block production halt on the Mainnet Beta.

This, according to the team, will help ensure the network does not suffer a similar stall in consensus if in case of a bug.

“Durable nonce transactions will not process until the mitigation has been applied, and the feature re-activated in a forthcoming release,” the platform wrote in a blog post.

Solana is currently the ninth largest cryptocurrency platform with a market cap of over $14.5 billion. The native SOL coin trades around $42.55, more than 6% up in the past 24 hours.

The post Solana disables transaction feature to prevent future network outage appeared first on CoinJournal.

• USSD is the first over-collateralized decentralized stablecoin, with guaranteed minimum collateral ratio of 130%.

• The current collateral ratio is over 200% with nearly $1.4 billion worth of assets in the Tron DAO reserve account.

TRON-based decentralized stablecoin USDD has hit another milestone as it becomes the first overcollateralized decentralized stablecoin (OCDS) in the crypto industry.

A month since its launch on 5 May, USDD has experienced great organic growth as part of its Stablecoin 3.0 development, and this latest upgrade brings to users not only fast transactions, but also the highest collateral ratio within the market. 

This follows an upgrade that allows TRON DAO Reserve members to both mint USDD by burning TRX as well as consolidate the stablecoin’s stability and credibility via a mechanism that makes it possible to over-collateralize assets in the TRON DAO Reserve (TDR).

200% over-collateralized, nearly $1.4 billion in assets

Over-collateralized assets include Bitcoin (BTC), Tron (TRX), and top stablecoins such as Tether (USDT), USD Coin (USDC), TrueUSD (TUSD) and USDJ.

According to data on the Tron blockchain explorer TRONSCAN, USDD’s total circulating supply currently is just above 667 million. The guaranteed minimum collateral ratio for the tokens is at least 130%, putting it above the 120% for the DAI. 

The 130% minimum ratio means that every USDD token is backed by $1.3 worth of the above assets. Currently, the ratio is at over 200%, with more than $1.37 billion worth of different assets backing the USDD.

The reserve account holds 10,500 BTC, 240 million USDT, and 1.9 billion TRX. Other than that, a total of 8.29 billion TRX have been sent to the burning contract. 

The public can access the real-time collateral ratio for the stablecoin 24/7 on the TRON DAO Reserve’s website.

USDD growth after TerraUSD collapse

USDD is quickly gaining ground as the leading decentralized stablecoin, with circulation on the TRON network, Ethereum, and BNB Chain. The stablecoin is also used across several platforms including exchanges Poloniex, KuCoin, Huobi Global and Bybit. 

It’s also available on SUN.io, PancakeSwap, Uniswap, and Curve among decentralized finance (DeFi) platforms.

However, the market’s confidence in algorithmic stablecoins wavered following the dramatic collapse of TerraUSD (USD). The stablecoin, which was backed by over 80,000 BTC among other assets, tanked and crashed the LUNA price along with it. 

But TRON founder Justin Sun says USDD is designed to be better than UST and that it is “spearheading the Stablecoin 3.0 era.” According to him, the upgrade adds features that underpin the stablecoin’s stability.

He added”

“The $10 billion reserves pledged by the TDR will enable USDD to become the most reliable decentralized stablecoin with the highest collateral ratio in blockchain history. Currently, the 200%+ collateral ratio offers USDD a very strong safety net.”

The post TRON upgrades USDD in the aftermath of TerraUSD collapse appeared first on CoinJournal.

The crypto market is in full swing with most top 100 coins in the green at the time of writing. 

Top cryptos

Major cryptos had a strong day with Cardano gaining more than 13%, Avalanche adding more than 9%, Solana up more than 8%, followed by Ethereum which jumped more than 4%. 

Bitcoin was trading above $31,000 at time of writing, up around 5% over the past 24 hours. Cardano is rising as the Vasil Hard Fork Upgrade approaches. It is expected to improve the blockchain’s scalability and performance significantly. 

Top movers

Outside the top 20, the bullish tendency was also in effect, with most coins adding up to 7% to their value. 

Notable standouts include Tezos and eCash, each up 12%, Theta Network and Helium with gains of 13%, THORChain and PancakeSwap with gains of 10%, and Neo, up 11%.   

Theta is likely rising on news of Metapass, the first permissionless, decentralized NFT ticketing platform it is powering. Helium announced that community voting for HIP 51 closes tomorrow, June 7. People can vote for or against evolving the blockchain to “a network of networks in time.” 

Tezos announced free tickets to the Tezos x WeAreDevs World Congress 2022. The biggest winner of the week is Waves, up 55% in the last 7 days. 

No top 100 coins are in the red today, but there have been some losers this week. STEPN leads this category with losses of 14%, followed by Convex Finance with 13% and XDC Network with 12%. STEPN’s GMT token is still reeling from its China ban.  

Trending

The biggest winner today is Bee Inu (BEEINU), a community driven project with a real use case running on Binance Smart Chain. This case involves programming with a myriad of free videos for those who want to learn it. 

Bee Inu is a community coding education site, targeting younger people. They claim to have tools that make programming fun and easy. Today, BEEINU is up 679%.  

The post Highlights June 6: Cryptos in the green, Cardano soars appeared first on CoinJournal.

The price of the EGLD token, which is the native token of Elrond Network is on the decline and has dropped by more than 6% today after an announcement that the Elrond team had started investing malicious activity on its main decentralized exchange (DEX), Maiar.

At the time of writing, EGLD was trading at $72.39, down 6.01% after dropping from a daily high of $77.48.

Malicious activity investigation

Elrond Founder and CEO, Beniamin Mincu, tweeted that his team was investigating “suspicious activity” on Maiar adding that his team will be providing the update “soon.”

Investigating a set of suspicious activities on the Maiar DEX.

We are here, all hands on deck.

Will update as soon as analysis is clear.

— Beniamin Mincu 🔥🌓 (@beniaminmincu) June 5, 2022

In a later tweet Mincu said:

“Identified the potential issue, and working on an emergency fix.”

Almost 7am here.

Team still focused on deck.

Identified the potential issue, and working on an emergency fix.

Will update again once fix is deployed.

P.S. Remarkable support from the Elrond community 🙌 https://t.co/98PpvlssGS

— Beniamin Mincu 🔥🌓 (@beniaminmincu) June 6, 2022

According to the reports, the Elrond Network went offline by a way of a “scheduled maintenance” with a message on its site noting that “operations will resume shortly.” However, the exchange has been offline for more than 7 hours.

Now, the rumors are spreading fast with some Elrond supporters saying that the network might have been compromised. 

Elrond blockchain has not gone down there has been an attempted exploit on the Dex. This was stopped. Do not spread fud

— PlanZ⚡️herotag @cryptotaptor (@BoomerRang54) June 6, 2022

Elrond has assured its users that they will be updating them once they fix their systems.

Following the incident, both EGLD and MEX, the native token of the Maiar DEX is also down with MEX failing to recover from its significant price drop where it lost almost 90% of its value late Sunday evening.

Maiar, launched late last year, had announced a $1.29 billion liquidity incentive program to improve the activities on the new exchange platform as well as push decentralized finance (DeFi) adoption beyond the crypto space into the mainstream.

At the time of the launch, the smart contracts installed on Elrond and the ones built for Maiar were advertised as having gone through a “rigorous auditing and formal verification.”

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Cryptocurrencies went in different directions over the past 24 hours, however, most top 10 cryptos were in the green, or showed price movements of less than 1%. 

Top cryptos

Bitcoin was up more than 2% this morning, holding above the $30,000 at time of writing. Leading the top 10 were Cardano and Solana, each rising more than 5% since yesterday. Most cryptos outside the top 10 gained 1-3%.  

Top movers

Most coins were flat, gaining or losing up to 5% of their value today. The biggest winner in the top 100 is Internet Computer Protocol (ICP), up 12%. 

It may be rising on successes of Sonic DEX and OGY, because Binance is delisting ICP/USDT futures (they will be settled on June 10), and/or due to the most recent Solana outage.  

Other gainers include Stellar Lumens, Bitcoin SV (a 2018 hard fork of Bitcoin Cash), IOTA, and Moonbeam at #100. Each added around 7% to their value. On the losing end, Kava and Maker each shed 4%.   

Trending

The biggest winner today is Metacyber (METAC), up 627% in the last 24 hours. MetaCyber is a metaverse located in space, which allows its members to play, explore, interact, and trade with other players. 

The post Highlights June 3: Cryptos mixed, ICP rises after Binance delists futures pair appeared first on CoinJournal.