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Solana Network Experiences Slowdown in Block Production Following Upgrade

After an update to the validator software on February 25, the Solana network saw a decrease in the rate at which blocks were produced. Transactions were disrupted as a consequence of the event, which prompted validators to downgrade the software in an effort to restore network speed.

At around 6:00 AM (UTC), a technical problem began, which prompted validators to downgrade to version 1.13 in an attempt to get transactions back up throughout the network. However, the downgrade was not sufficient to return Solana to regular operations, and as a result, the decision had to be made to restart the network on version v1.13.6.

“A considerable delay in block production was reported by the network about the same time as an upgrade to the validator software was being implemented. The engineers are currently investigating the underlying reason of the problem “Noting Solana’s webpage for the compass

The problem is related to the upgrading from version 1.13 to version 1.14, which slowed down the process of finalizing blocks. The Solana network is in the process of being restarted, and in order for activities to continue, it is essential to have 80 percent of active stake online:

“As additional validators finish their restart, this number will climb in accordance with the amount of stake they have delegated: this implies that bigger validators such as CEX have a disproportionately high influence on restart timeframes.”

Within the first few hours after the issue was reported, Solana’s validators got together and brainstormed potential solutions to the problem. Infrastructure provider Chorus One pointed out in a Tweeter that the event “demonstrated how really decentralized the network is.” The first chorus continued: “If we didn’t have to spend so much time debating, we could get back up in an hour. However, every step along the route is up to controversy, including whether or not to downgrade, whether or not to restart, and whether to transition from an approach of downgrading to one of restarting. Voting occurs. In the end, it takes us between 8 and 10 hours to recuperate, rather than only 1.”

This is a developing story, and further information will be posted as it becomes available. Please check back for updates.

Uniswap V3 Protocol License Expires, Allowing Developers to Fork Code

Uniswap, the biggest automated market maker in the decentralized finance (DeFi) space, has opened up its code for developers to fork after the expiration of its Business Source License (BSL) on April 1, according to the protocol’s documentation. The two-year BSL license was created to protect the author’s right to profit from their creations, preventing the code from being used for commercial purposes. The expiration of the BSL license now allows developers to deploy their own decentralized exchange (DEX) using the Uniswap V3 protocol.

Uniswap V3’s new license, the “General Public License,” now applies to the protocol. Developers who want to fork the code will need to use an “Additional Use Grant,” which is a production exemption that is meant to accommodate the needs of both open-source and commercial developers.

Uniswap is widely used by traders, token creators, and liquidity providers in the DeFi space for swapping tokens. Its native token, UNI, is popular among investors looking to gain exposure to the DeFi market. Earlier this month, Uniswap officially went live on the BNB Chain, Binance’s smart contract blockchain, after over 55 million UNI tokenholders voted in favor of a governance proposal by 0x Plasma Labs to deploy the protocol on the BNB Chain. This move allows Uniswap users to access BNB Chain’s ecosystem for trading and swapping tokens, as well as tap into a liquidity pool with BNB Chain’s DeFi developer community.

Uniswap’s decision to make its code available for forking is significant for the DeFi ecosystem, as it allows developers to create new and innovative DEXs that can integrate with the Uniswap V3 protocol. This move is expected to result in a proliferation of DEXs, each with its own unique features, contributing to the growth and maturity of the DeFi space.

While the expiration of the BSL license is a welcome development for developers, it also underscores the need for blockchain projects to carefully consider the licenses they choose to use. The BSL license has been criticized by some in the open-source community for its restrictive nature, and it remains to be seen whether other projects will follow Uniswap’s lead in using the license. Nonetheless, the expiration of the BSL license is a positive development for the Uniswap community, as it opens up new avenues for innovation and growth.

BRC-20 Token Standard Creator Opposes UniSat Wallet's Proposed Fork

A significant disagreement has arisen concerning the BRC-20 token standard on the Bitcoin blockchain. Domo, the creator of the Bitcoin BRC-20 token standard, has publicly expressed opposition to an upcoming fork proposed by UniSat Wallet. This disagreement highlights a crucial debate in the crypto world about the balance between innovation and stability.

On January 2, Domo, known for his role in the creation of the Bitcoin BRC-20 token standard, took to X platform (formerly Twitter) to voice his concerns. He stated that rushing these updates in BRC20 is reckless and could potentially harm the broader community of BRC20 users. His opposition stems from the belief that UniSat Wallet’s proposed updates are being implemented too hastily, without proper consideration of the potential repercussions.

The BRC-20 token standard is an experimental fungible token standard on Bitcoin. Inspired by Ethereum’s ERC-20 standard, BRC-20 allows the creation of fungible tokens using Bitcoin’s Ordinals protocol. It represents a significant innovation in the realm of cryptocurrency, enabling new forms of tokenization on the Bitcoin blockchain.

UniSat Wallet, on the other hand, has announced its intention to follow the Ordinals Jubilee upgrade and ensure the continued operation of the BRC-20 protocol on Ordinals. This move by UniSat Wallet is described as a ‘split’ rather than a ‘fork’, adapting to the Ordinals Jubilee upgrade, a significant change in the Bitcoin blockchain’s handling of tokenized assets.

The crux of the issue lies in the method and pace of implementing these changes. Domo’s concerns reflect a broader sentiment in the crypto community, where rapid advancements often clash with the need for stability and thorough vetting. The proposed changes by UniSat Wallet, while innovative, might be perceived as destabilizing by some members of the community, especially those heavily invested in the current BRC-20 standard.

This development is crucial as it underscores the dynamic and often contentious nature of blockchain technology and cryptocurrency standards. As the technology evolves, differing opinions on the direction of such advancements are inevitable. The debate between Domo and UniSat Wallet is indicative of the larger conversations happening in the crypto space about how to balance progress with stability.

In conclusion, the opposition from Domo against UniSat Wallet’s proposed fork of the BRC-20 protocol represents a significant moment in the cryptocurrency sector. It highlights the challenges of innovating within a rapidly evolving technological landscape, where every change can have far-reaching implications for an entire community.