2024

Solana

Foundation

Fantom

Rise

The Solana Foundation has taken decisive action by removing several validator operators from its delegation program due to their participation in sandwich attacks targeting Solana users. According to a <a href="https://x.com/0xMert_/status/1799955514786234751" rel="noopener noreferrer nofollow">post</a> on X, this move aligns with the foundation’s stringent rules, which explicitly prohibit malicious activity within the network.
<h2 id="b-operators-engaged-in-sandwich-attacks-against-solana-users-b">Operators Engaged in Sandwich Attacks Against Solana Users</h2>
A sandwich attack is a form of market manipulation where an attacker places two orders around a target transaction to exploit price movements, thereby profiting at the expense of other participants. These actions undermine the trust and integrity of the blockchain ecosystem, which the Solana Foundation aims to uphold.
<blockquote class="twitter-tweet">
 I’m sure a lot of super honest people who have a perfect understanding of MEV on Solana and the Foundation Delegation program will try to misrepresent reality to feel better about their bags
 For those genuinely curious, I’ll summarize:
 – a sandwich attack is a malicious form of… <a href="https://t.co/KhfGBgGuyT" rel="noopener noreferrer nofollow">pic.twitter.com/KhfGBgGuyT</a>
 — mert | helius | hSOL (@0xMert_) <a href="https://twitter.com/0xMert_/status/1799955514786234751?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 10, 2024</a>
</blockquote>
The foundation’s decision to remove the implicated validators shows its commitment to maintaining a secure and trustworthy network. Validators play a critical role in the Solana ecosystem by validating transactions and securing the blockchain. Any breach of trust by these key participants has repercussions on the network’s reliability and user confidence.&nbsp;
As such, the Solana Foundation is committed to upholding ethical standards and safeguarding the community’s well-being by enforcing regulations against malicious behavior. Those discovered partaking in such activities will be barred from the program, and any stake from the Foundation will be promptly and irrevocably withdrawn.
<h2 id="b-solana-encountered-scalability-challenges-b">Solana Encountered Scalability Challenges</h2>
Analysts observed that although the blockchain has positioned itself as a global settlement network for cross-border payments and engaged in pilots with Visa and Shopify, it has yet to make significant inroads into mainstream consumer or business-to-business (B2B) payments.
The challenges identified include Solana’s scalability requirement which necessitated a substantial increase in transactions per second to meet demand. Meanwhile, the congestion issues that users experienced on the Solana network have led to transaction delays and dropped transactions.&nbsp;
These were primarily caused by spam transactions from bots prioritizing their activities over regular users. Despite these challenges, <a href="https://thecoinrise.com/fantom-creator-andre-cronje-voices-support-for-solana/" rel="noopener noreferrer nofollow">Fantom creator Andre Cronje maintains the performance issues</a> were technical rather than flaws in the network’s consensus mechanism.
<h2 id="b-solana-s-rise-to-dominance-b">Solana’s Rise to Dominance</h2>
The <a href="https://thecoinrise.com/solana-path-forward-insights-from-drip-haus-ceo-vibhu-norby/" rel="noopener noreferrer nofollow">first cornerstone of Solana’s future success is scalability</a>. Solana’s unique approach to scalability, using a combination of innovative technologies like Proof of History (PoH) and Tower BFT (Byzantine Fault Tolerance), sets it apart from other blockchain platforms.
Unlike many memecoins that rely primarily on hype and speculation, Solana offers a robust and scalable infrastructure to support Decentralized Applications (DApps) and facilitate high-speed transactions. This technical prowess has positioned the network as a promising contender in the competitive landscape of blockchain platforms.
Last month, <a href="https://thecoinrise.com/solana-mainnet-celebrates-four-years-in-operation/" rel="noopener noreferrer nofollow">Solana marked its fourth year of operation</a>. Over the past four years, Solana has achieved significant milestones, such as processing approximately 254 million blocks and 276 billion transactions.&nbsp;
The post <a href="https://thecoinrise.com/solana-removes-node-operators-from-delegation-program-heres-why/" rel="noopener noreferrer nofollow">Solana Removes Node Operators From Delegation Program, Here’s Why</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Solana Removes Node Operators From Delegation Program, Here’s Why

Table of Contents

TheCoinrise Media

Other articles published on Jun 10, 2024

XRP Whale Moves 30M Coins to Exchange

Fed’s Rate Cut Decision Looms as Bitcoin (BTC) Price Aims for $89,200

Shiba Inu Exec Gives Crucial Statement on SHIB Metaverse

Meta will use users’ social activities to train its AI models

SEC Affirms ProShares Ethereum ETF Filing, Initial Launch May Be Delayed

Aave's Struggle, Dogeverse's Labyrinth: Can MoonBag Coin's 88% APY Staking Shine on the Sky?

Join our free newsletter for daily crypto updates!