Solana announced in a statement and on Twitter on Sunday the discontinuation of durable transaction nonces, which caused a network outage last Wednesday.

At the origin of Wednesday’s outage

Durable transaction nonces are mechanisms employed by Solana to circumvent the short duration of blockhashes. These are, in broad strokes, block reference numbers on the blockchain.

In its press release, Solana points to this practice as being the cause of last Wednesday’s bug which caused a breakdown of more than four hours. This error resulted in double-commit transactions that caused the network to fail. The company therefore undertook to deactivate these nonces in order to allow its network to be restored.

How to avoid this type of incident in the future?

Now, durable nonce transactions have been disabled on v1.9.28 and v1.10.23 to prevent other bugs from occurring in the future. Solana nevertheless indicated that these will be reintegrated in a future update.

This deletion will have no impact on the execution of the various operations on the Solana blockchain. Users will therefore be able to continue to operate the network and trade tokens as before.

Despite this, the occurrence of Wednesday’s outage did not fail to worry the cryptosphere, which believed it to be a sign of a deep failure of the blockchain. Therefore, the Solana (SOL) unscrewed by nearly 22% last week . Since then, a correction has been observed and it does not seem that this incident could have lasting repercussions for the token. So, if you want to buy SOL, we recommend that you proceed on a reliable platform such as Capital.com .

The Solana teams demonstrated their mobilization and their efficiency in dealing with the bug that occurred. On the contrary, the Solana blockchain could benefit from this resilience test and the changes implemented to ensure its sustainability.

Binance Labs, the exchange leader’s investment fund, has just announced that it is investing in PancakeSwap, one of the main DEXs on the market.

Binance Labs: the strong arm of Binance in terms of investments

Binance Labs is the venture capital firm owned by Binance, the world’s largest cryptocurrency exchange. Its role is to identify and invest in various high-potential startups, projects or companies that are carriers of the Web 3 ecosystem. Binance Labs’ mission is to contribute to the mass adoption of crypto-currencies on a global scale . world.

The fund has been in existence for more than 3 years now and has supported more than 170 projects around the world . We can cite the Kava, Moonbeam and Axie Infinity blockchains among the projects supported by Binance’s investment arm.

Binance Labs in support of PancakeSwap

PancakeSwap is one of the most popular decentralized exchanges (DEXs) in the blockchain ecosystem. Launched in September 2020 and hosted on the Binance blockchain, it is in the top 10 protocols with the most assets of locked assets and has nearly 400,000 active users . It allows in particular the exchange of crypto-currencies in a few seconds or to access the interesting returns of the different liquidity pools.

Through this investment, the amount of which has not yet been revealed, Binance wishes to provide assistance for the technological development as well as the marketing of the platform.

PancakeSwap’s native token, CAKE reacted positively to Binance Labs’ announcement with a near 10% breakout on Monday . However, the token is still more than 36% below its price a month ago. Similarly, since its ATH, it has experienced an impressive drop, in particular due to the more than degraded market conditions in recent weeks. Some also wonder about the future of the project, in the increasingly competitive context of DeFi.

This news and this investment could also benefit the various cryptos and projects listed on the DEX. We can for example cite Lucky Block or the DeFi Coin which could benefit from this announcement from Binance Labs.

Through its venture capital fund, Binance wants to gain a foothold in the opportunity-rich universe of decentralized finance. It is therefore logical that the exchange giant has chosen one of the pioneers and recognized players in the sector, PancakeSwap. We will see in the coming months the scope of this investment and the developments for one of the benchmark DEXs on the market.

The leading exchange platform announced on Monday in a press release that it will sponsor The Weeknd’s “After hours til dawn” tour, which will give pride of place to web3 technologies.

A world first

The announcement did not fail to delight the fans! The Weeknd’s long-awaited tour kicks off July 8 in Toronto . For the occasion, the singer, notably known for his hit “I feel it coming”, will benefit from the support of Binance , official sponsor.

On the program, an integration of web3 technologies in a show that already promises to be unique. Binance has surrounded itself with the teams of Hxouse, a think tank and creative incubator, to launch an exclusive collection of NFTs on the occasion of this tour. In addition, participants’ tickets may allow them to have exclusive access to other non-fungible tokens commemorating the event.

A technological and humanitarian project

Ambassador of the United Nations World Food Programme, The Weeknd launched the XO Humanitarian Fund at the beginning of the year to support the institution in its efforts to fight famine in the world. As part of this partnership and to mark the launch of this tour, Binance has announced a donation of $2 million to this charity .

In addition, Binance and The Weeknd will launch a collection of NFTs designed in honor of this association which will be donated 5% of the sale of these.

In addition to NFTs, other derivative products will soon be presented. Binance co-founder Yi He said:

“We’re thrilled to be an exclusive crypto partner on The Weeknd’s Tour, giving fans and people the chance to engage with crypto in a new avenue. Crypto is community-centric and we believe this partnership embodies that, including empowering local artists and giving back, through a mainstream platform .”

In the crypto markets, the past few weeks have reeked of panic. After the Terra trauma, the multiple problems encountered by the Solana blockchain, it is the Elrond ecosystem that seems to be subject to the law of series . In question, a potential attack on its Maiar exchange on the night of Sunday to Monday.

Maiar, victim of a bearish attack?

During the night from Sunday to Monday, the Maiar exchange seems to have been the victim of a coordinated attack on the EGLD token . Indeed, during the night, several massive sales took place almost simultaneously. Sales involving a total of several million dollars in EGLD. Two of these sales even exceeded 5 million dollars, thus blowing a wind of panic on the Elrond ecosystem.

On Twitter, the news quickly fueled fear. The sales screenshots follow one another and some then see the Terra episode relive and the inexorable fall to 0 of a stronghold of the crypto industry. In just a few minutes, the Twittersphere goes wild, prompting the Elrond team to react quickly. Through Benjamin Mincu, co-founder of the blockchain, Elrond reacts. Also on Twitter:

“We are investigating a series of suspicious activity on the DEX Maiar. Everyone is there, on deck. We will make updates as soon as the analysis is clear. “

Twitter is also investigating the attack!

For now, the nature of the attack remains unclear. Attempt at market manipulation, attack on smart-contracts? The hypotheses are still wide open . Be that as it may, the intention to harm the protocol seems very real.

To dig operations, some twittos have also actively investigated. And it would seem that three separate wallets have been specially created for the occasion. Fueled by funds from the Binance platform , these 3 wallets sold a large amount of EGLD with the aim of driving down the price of the token to buy it back at a much cheaper rate. As reported by the lightnings.eth Twitter account, which wanted to trace the transactions:

“These 3 wallets are the ones that sold a huge amount of EGLD. They were created at the same time and received funds from Binance, then they deployed a smart contract, with a method called “deploy”.”

What impact on the price of the EGLD token?

These massive sales had a considerable impact on the price of the EGLD token . But not on all platforms. Thus, on the Maiar exchange, the token simply collapsed. Going from 75 to less than 5 dollars in just a few minutes. But the contagion was avoided . On the Binance platform, the token lost only 5% of its value from 75 to 71 dollars. The contagion was therefore avoided, following the cessation of trading on the Maiar exchange.

As the chart below, offered by the Coinmarketcap platform, illustrates, the worst seems to have been avoided:

As of this writing, the EGLD token appears to be one of the few tokens in the top 100 to show an increase over the past 24 hours . If the increase is tiny (+0.11%), it is notable in a market context at half mast on Tuesday: – 5.58% over the same horizon.

This Tuesday evening, the Maiar exchange is still not accessible. Rumors are also swelling on social networks about the attack and the follow-up given to it. Because if Benjamin Mincu affirms that the funds could be recovered, the manipulation of the market could have allowed the payment of a bonus of bug to the opportunists having taken advantage of the fault.