1. The Solana network congestion problem has intensified, causing delays in the launch of multiple projects on the network
According to Cointelegraph, intermittent congestion on the Solana blockchain has forced multiple crypto projects to postpone their releases. Solana developers previously said they were aiming to complete fixes by April 15. Users of the Solana blockchain have reported increasing issues with network congestion and transaction errors over the weeks. New projects, especially those planning to issue tokens, have decided to postpone until technical difficulties are resolved. Some of the Solana projects awaiting congestion solutions include NFT project Suit up, altcoin project DuckCoin, and Solana staking rewards platform Surge Finance. So far, users have reported delays in sending Solana (SOL) tokens on the crypto exchange Coinbase. According to the incident report, Solana has been investigating the issue for more than 8 hours, but these issues will not affect trading and fiat currency deposit and withdrawal functions.
2. Saga announces mainnet launch
Saga, a modular blockchain platform, has announced the launch of its mainnet on the X platform. Earlier today, Saga announced that its mainnet will enter the first phase. This phase will launch Saga's security chain, which is the foundation of the platform's operations and aims to provide a secure infrastructure for activities such as staking, mining, and airdrops, and create a safe environment for developers and users to participate in the platform. Saga adopts a progressive multi-stage mainnet launch strategy. In the subsequent second to sixth phases, the platform chain, shared security, external validators, and slashing mechanisms will be gradually introduced.
3.Vitalik: EIP-4844 lays the foundation for future expansion through DAS, and DAS can accommodate 128 blobs in the future
Ethereum founder Vitalik Buterin delivered a keynote speech titled "Building on Ethereum in the 2020s" at the 2024 Hong Kong Web3 Carnival. Vitalik Buterin said that EIP-4844 laid the foundation for future expansion through DAS (Data Availability Sampling). Currently, DAS can accommodate 3 blobs (about 375 kB), and the next stage of PeerDAS will be 8-16 blobs (about 1-2MB), and the final complete DAS can accommodate 128 blobs (about 16MB).
4. Tether's net profit in 2023 will reach $6.2 billion
Bitwise President Teddy Fusaro cited Maelstrom data and said that the net profit of stablecoin issuer Tether in 2023 will be about $6.2 billion, which is 78% of Goldman Sachs ($7.9 billion) and 72% of Morgan Stanley ($8.5 billion). However, Tether has about 100 employees, while Goldman Sachs and Morgan Stanley have 49,000 and 82,000 employees respectively.
5. Grayscale ETH Trust’s negative premium rate is 22.47%
According to Coinglass data, the Grayscale Bitcoin Trust Fund ETF (GBTC) has a premium rate of 0.16%. The negative premium rate of the Grayscale ETH Trust is 22.47%, and the negative premium rate of the ETC Trust is 35.02%. In addition, the Grayscale BCH Trust premium rate is 229.69%, the LTC Trust premium rate is 428.09%, the SOL Trust premium rate is 511.22%, the MANA Trust premium rate is 632.70%, the LINK Trust premium rate is 712.91%, and the FIL Trust premium rate is 2106.92%.
6. EthStorage: Will provide long-term DA solutions for Manta Network
EthStorage, the Ethereum Layer2 network data storage solution project, announced on the X platform that EthStorage will provide a long-term modular data acquisition (DA) solution for the zero-knowledge proof project Manta Network, with underlying technical support from Celestia. It is reported that in this integration, Celestia's modular DA provides high-performance data publishing, and EthStorage serves as a permanent data storage solution for DA blobs to permanently extend the availability time of DA. This is supported by key technologies invented by EthStorage, including data availability sampling (DAS) over time and on-chain verification through SNARK proofs.
7.Vitalik Buterin: ZK-SNARKs and other technologies are inefficient, and Ethereum aims to achieve real-time proof
Ethereum founder Vitalik Buterin delivered a keynote speech titled "Reaching the Limits of Protocol Design" at the 2024 Hong Kong Web3 Carnival. Vitalik Buterin said that technologies such as ZK-SNARKs, MPC, and FHE have efficiency and security issues. The Ethereum Slot block time is 12 seconds, the ordinary block verification time is about 400 milliseconds, and the ZK-SNARK proof time is about 20 minutes. Ethereum's goal is to achieve real-time proof. Regarding the current inefficiency problem, Vitalik said that the solution is "Parallelization + aggregation trees", using SNARK algos and hashing to improve efficiency, and using ASIC for ZK hardware acceleration.
8. US SEC postpones decision on Bitwise and Grayscale Bitcoin spot ETF options trading application
According to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) has postponed its decision on whether to allow the New York Stock Exchange to offer options trading on a Bitcoin spot ETF. According to the April 8 filing, the SEC's postponement will affect options trading on the Bitwise Bitcoin ETF (BITB), Grayscale Bitcoin Trust (GBTC), and other trusts holding Bitcoin listed on the New York Stock Exchange. The securities regulator said: "The Commission believes it is necessary to specify a longer period to act on this proposed rule change so that there is sufficient time to consider the proposed rule change." It is reported that the next deadline for the U.S. Securities and Exchange Commission (SEC) to approve the proposed rule change for the New York Stock Exchange is May 29, when a decision to approve, reject or postpone will be made.
