Group items tagged

PayPal's PYUSD stablecoin, which previously had only been available on Ethereum, has been deployed on Solana which offers "confidential transfers" as an optional feature. When enabled, it would allow merchants to provide confidentiality for transaction amounts to their consumers while maintaining visibility for regulatory purposes. According to PayPal, it chose the Solana blockchain for its high speeds with extremely low costs. https://solana.com/news/pyusd-paypal-solana-developer https://newsroom.paypal-corp.com/2024-05-29-PayPal-USD-Stablecoin-Now-Available-on-Solana-Blockchain,-Providing-Faster,-Cheaper-Transactions-for-Consumers

Solana said that at least 7,700 wallets that held at least $5.2 million crypto-assets, including Solana tokens and USDC stablecoins, had been breached.

The Solana blockchain has become an Official Chain for USDC, continuing the expansion of USDC as an open standard and protocol for fiat digital currency on blockchains. Solana offers significant scalability and speed, delivering upwards of 50,000tps, with block production and settlement finality in 400ms, while operating with extremely low cost transaction fees at a tiny fraction of a cent.

"Solana claims that its blockchain is capable of sustaining more than 50,000 transactions per second (TPS) at peak load, which would make it arguably the fastest blockchain currently operating. To put this into perspective, this is close to 1,000 times faster than Bitcoin (max throughput ~5-7 TPS) and more than 3,000 times faster than Ethereum (max throughput ~15 TPS)."

Solana also said that the closed-source Slope wallet may be responsible for the exploit. And security firm Otter reported that the Slope wallet app sent out users' seed phrases to a centralized server. Slope hired this server from a company called Sentry. It added that seed phrases passed to Slope's server were saved in the form of readable text. Since the phrases were not encrypted, anybody with access to this specific Sentry server could potentially access users' private keys.

Unlike blockchains like Bitcoin and Ethereum that rely solely on consensus mechanisms like proof-of-work (PoW) or proof-of-stake (PoS), respectively, Solana combines PoH with PoS to achieve a high-throughput, low-latency system. This unique combination allows Solana to handle thousands of transactions per second, solving significant bottlenecks faced by other chains."

Coinbase launched Base, a layer 2 network built using Optimism's OP Stack, to attract millions of new crypto users in the coming years. Coinbase is joining Optimism as a core developer on the open-source OP Stack, a developer toolkit for the Optimism network, the firm said. However, Base will not be limited to Ethereum, it will also provide easy and secure access to layer 2 networks such as Optimism, as well as other blockchains ecosystems like Solana. See also: https://noelleacheson.substack.com/p/weekly-feb-25-2023?publication_id=1104537&post_id=105030192&isFreemail=true

"Solana is the only protocol that attempts to deal with intra-shard concurrency. How? Solana's runtime, SeaLevel, requires that transaction headers specify all the parts of the state that the transaction will touch. With this information, SeaLevel can determine which transactions may collide, and will serialize those. All non-overlapping transactions can be parallelized, and run concurrently across thousands of GPU cores in parallel."

Solana's blockchain network went down on September 14, after large increase in transaction load to 400,000 per second overwhelmed the network, creating a denial-of-service that caused the network to start forking. Shortly thereafter, Solana's validator community opted to restart the network, providing the rest of the community with instructions on how to do this via its Twitter feed and its Discord channel. The network restart was successful and supporting systems were up and running early the next day.

"This article compares some of the main features of the Internet Computer with the following layer one blockchains: Ethereum, Cardano, Solana, Binance Smart Chain, Zilliqa, Algorand, and Avalanche. Although Polkadot is a 0-layer blockchain, known as a multi-chain protocol with heterogeneous sharding, "

"An array of layer-1 protocols have emerged that aim to improve these shortcomings across different use cases. Though it can be difficult to compare blockchain protocols owing to differences in performance metrics and data, elements like transactions, scalability, nodes, and energy efficiency can help assess their relative merits. With this in mind, let's compare six blockchains - Ethereum, Cardano, Solana, Avalanche, Algorand, and Internet Computer - based on these parameters."

U.S. President Donald Trump named Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL) and Cardano (ADA) as five assets to be included in a U.S. strategic crypto reserve. The initial announcement made on Truth Social excluded BTC and ETH ("A U.S. Crypto Reserve will elevate this critical industry... which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!). However, in a later post they were added ("I also love Bitcoin and Ethereum!"). https://truthsocial.com/@realDonaldTrump/posts/114093946326587357

"Coinbase... [will be] listing tether (USDT), the world's dodgiest stablecoin. Tethers... are a stand-in for real dollars, used mainly on offshore crypto exchanges that can't get proper banking... Coinbase only supports ERC-20 USDT, a reference to the nearly 24 billion tethers that live on the Ethereum blockchain. (Another 26 billion are on Tron, with a smattering on Omni, Algorand, EOS, Liquid, SLP, and Solana.) At the moment, you can only transfer USDT onto Coinbase; you cannot move tethers off the exchange."

Tether (USDT) transactions on the Tron network have outpaced the number of USDT transfers on the Ethereum blockchain. Despite a lot more ERC20-based USDT in the wild, USDT transaction counts using the TRC20 standard have been much higher all year long, likely due to rising ETH network fees. Fees on the Tron network are near zero, whereas ETH transaction fees can exceed $5 range. However, the aggregated dollar volumes of ERC20 USDT is still 2x higher than those using TRC20. USDT is also issued on Ethereum, Tron, Bitcoin Cash, EOS, Liquid, Solana, and Algorand, among others.

The testnet for Diem reached over 50 million transactions on January 27, data from blockchain explorer inDiem shows. It operates at an average throughput of over 3 transactions per second (tps). While sounding fast, this is much slower than transactions on both Bitcoin (4.6 tps) and Ethereum (15 tps), and much slower to the speeds on upcoming networks like Solana (65,000 tps). In terms of testnet users, over 221,000 individual addresses have interacted with Diem in some capacity.

"We've spent months cataloguing and investigating every single USDT ever sent to and from Tether, across the eight blockchain and layers on which it currently exists: Omni (Bitcoin), Liquid (Bitcoin), Ethereum, Tron, Simple Ledger Protocol (Bitcoin Cash), EOS, Solana, and Algorand. Here's what we found."

Ava Labs CEO Emin Gün Sirer has dismissed allegations from CryptoLeaks that the company formed a "secret pact" with U.S. law firm Roche Freedman LLP to use the American legal system "gangster style" to "attack and harm crypto organizations [i.e., Ava Labs competitors]." Ava Labs is the firm behind Avalanche (AVAX), an Ethereum (ETH) rival in the decentralized finance (DeFi) and customized blockchain space. Roche Freedman LLP was recently involved in separate high-profile lawsuits against Solana Labs and Binance, claiming that the firms were engaging in unlawful activities.

On March 11, 2025, the U.S, Securities and Exchange Commission (SEC) postponed decisions on multiple crypto-asset exchange-traded fund (ETF) filings until May 2025. However, this is widely viewed as standard procedure that all of the currently approved crypto-asset ETFs have gone through before. Of note, as of of March 12, nine companies have filed with the SEC for XRP ETF products. Beyond dedicated XRP ETF filings, at least two asset managers have included XRP in broader crypto ETF products. See also: https://cointelegraph.com/news/xrp-etf-filings-awaiting-sec-approval

Wyoming plans launch its own U.S. dollar-backed stablecoin as soon as July 2025. The WYST token will be fully backed by US Treasuries, cash and repurchase agreements, and maintain a statutory requirement of no less than 102% capitalization. The income generated through interest income on the reserve assets will be used to fund education and infrastructure. They have been tested on Avalanche, Solana, Ethereum, Arbitrum, Optimism, Polygon, and Base testnets. in collaboration with token issuance partner LayerZero. https://content.govdelivery.com/accounts/WYGOV/bulletins/3d8d97a

On February 13, 2025 the U.S. Securities and Exchange Commission (SEC) acknowledged filings from crypto-asset manager Grayscale to list spot XRP and Dogecoin exchange-traded funds (ETFs). The SEC has 240 days following the submission of the filings to the federal register to decide whether they get the green light, which would put the deadline in mid-October 2025. In prior weeks, the SEC had also acknowledged applications for Litecoin and Solana ETFs. The decision on an XRP ETF may be complicated by the SEC's lawsuit against Ripple Labs regarding XRP's security status. Dogecoin's path to approval could be more straightforward as it adopts many facets of Bitcoin, for which the SEC has approved ETF products. https://www.sec.gov/files/rules/sro/nysearca/2025/34-102420.pdf https://www.sec.gov/files/rules/sro/nysearca/2025/34-102416.pdf