Author Archives: SOLANA NEWS REPORT

Solana’s NFT Ecosystem Faces Challenges but Introduces Affordable Minting with State Compression Technology Solana’s NFT ecosystem has experienced setbacks with the departure of two popular NFT collections, y00ts and DeGods, in 2023. While y00ts is in the process of migrating to the Polygon (MATIC) chain, DeGods is also moving to Ethereum (ETH) at press time.[Read more…]

Solana’s Head of Finance Falls Victim to $50 Crypto Scam Reports have surfaced revealing that Nivan Bhuta, the head of finance at Solana network, was scammed for approximately $50 USDC. This incident shines a spotlight on the growing problem of scams within the blockchain community, which can even affect high-ranking individuals like Bhuta. Impersonator Pretending[Read more…]

A Social Layer Solution for Bridge Security: Solana’s Yakovenko and Ethereum’s Buterin in Debate After what seemed like an eternity, Anatoly Yakovenko, co-founder of Solana Labs, and Vitalik Buterin, co-founder of Ethereum, have resumed their discussion on bridge security. In late May 2022, blockchain activists engaged in a dialogue on detecting and preventing fraudulent attempts[Read more…]

Solana’s NFT Landscape: Analyzing y00ts’ Migration and Impacts Solana’s NFT ecosystem recently experienced a significant event with the migration of one of its popular collections, y00ts, to Polygon. This move raised questions about the impact on Solana’s NFT space, but data suggests otherwise. Was Solana’s NFT Space Affected? Contrary to concerns, DappRadar data revealed that[Read more…]

The Solana Foundation Introduces Innovative Technology to Lower NFT Minting Costs The Solana Foundation Introduces Innovative Technology to Lower NFT Minting Costs The Solana Foundation has recently unveiled a groundbreaking technology that significantly reduces the cost of minting 1 million NFTs on the Solana blockchain. This new technology leverages state compression through Merkel trees, a[Read more…]

Solana Unveils State Compression: Revolutionizing On-Chain Storage Costs Layer-1 blockchain Solana has introduced a groundbreaking solution called state compression, aimed at significantly reducing the cost of on-chain storage. This technology has the potential to bring down the cost of minting 1 million nonfungible tokens (NFTs) on the Solana network to nearly $110, making it a[Read more…]

Solana [SOL] Consolidates Within $20 – $22 Range Amidst Bullish Sentiment Solana [SOL] has been closely following the movements of Bitcoin [BTC], as it continues to consolidate within the $20 – $22 range, while BTC trades within the $26.8K – $28.8K range in recent days. Despite this consolidation, there is a prevailing bullish sentiment as[Read more…]

Injective Unveils Cascade: The First Interchain Solana SVM Rollup Injective, a decentralized exchange and layer-2 protocol, has announced the release of Cascade, the first-ever Solana Sealevel Virtual Machine (SVM) rollup for the inter-Blockchain Communication (IBC) ecosystem supported by Cosmos. This new integration will bring the SVM into the broader Cosmos ecosystem, a decentralized network of[Read more…]

The Rise and Fall of Solana’s Price: Overcoming FTX Fiasco The price of Solana (SOL) took a hit in 2022, falling nearly 95% partly due to its association with the tainted reputation of crypto entrepreneur Sam Bankman-Fried and his collapsed ventures, FTX and Alameda Research. However, in 2023, SOL’s price has rebounded, making impressive gains[Read more…]

DeGods NFT Migration to Ethereum: Impact on NFT Trading Volume DeGods NFT, a popular NFT project, has officially migrated from Solana to Ethereum on April 1, 2023. This migration has not been without controversy, as it faced challenges from Dust Labs. In the last 24 hours since the migration, the impact on Ethereum NFT trading[Read more…]