There have been significant developments for the popular altcoins Solana (SOL), Cardano (ADA), Alchemy Pay (ACX) and LidoDAO (LDO). Here are the details…
An explanation was made for the problem in the SOL network
The Solana Foundation has released a report on hours of network slowdown and technical issues starting Saturday, as we reported on Cryptokoin.com. Blockchain, which has experienced another outage, has caused great concern in the community, as a major problem occurred during the upgrade from 1.13 to 1.14. Solana Status announced the Solana Mainnet Beta Outage Report in a tweet on Feb. 27 to provide details of the reasons behind the Feb. 25 outage.
According to the report, SOL Mainnet Beta suffered a significant performance drop on February 25. The validators took charge and restarted the chain with the previous upgrade, returning to normal network functions at night on Sunday. Solana has stalled for more than 20 hours without a single successful transaction. Verifier nodes automatically entered vote-only mode, a “safe mode” designed to help recover the network in the event that data is not available.
After Solana (SOL), Cardano announces major update for Hydra
The Cardano (ADA) protocol released its latest update last week in which it recorded another milestone in on-chain activities. According to the update, a total of 117 projects have been launched in Cardano to date, and a total of 1,205 projects are currently being built on the protocol. The growth of Cardano Blockchain was also demonstrated in the total number of token policies reaching 70,039. Cardano started the year off on a good note, thanks in part to the active development work done by the developers. An important update regarding the Hydra Protocol was also shared in the weekly update. According to the terms of the update, the new path discovered will always extend the deadline and facilitate the selection of competition periods depending on the network.
Lido DAO puts limit on staking rate
Liquid staking protocol Lido Finance has activated a protocol security feature called “staking rate limit” after more than 150,000 Ether has been staked with the protocol in a single day. Lido is a liquid staking solution for crypto assets and allows users to stake Ether without having to lock their tokens. When a user deposits Ether, Lido gives them a liquid variant of ETH known as staked Ether (stETH), giving users staking rewards for each day the tokens are held in their wallet.
According to the February 25 tweet of the liquid staking protocol, the “dynamic mechanism” came into play after the daily Ether staking limit of 150,000 was reached. In a related guide, Lido explained that the “safety valve” aims to limit the amount of staked Ether that can be minted during high inflows, aimed at addressing potentially negative effects such as reward dilution. “This means that it is possible to send this much Ether to Lido staking contracts in just a 24-hour timeframe,” he explained.
Alchemy Pay licensed in Indonesia
Alchemy Pay, in collaboration with local fintech firm Berkah Digital Pembayaran, has obtained a license to conduct remittances and fund transfers from Indonesia’s central bank. Announcing the news on February 27, Alchemy Pay noted that the Central Bank of Indonesia has jointly licensed Alchemy Pay and Berkah Digital’s platform BDPay, enabling companies to offer better payment methods and reduce associated operating costs.
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