Tag: Solana Labs

Krafton Partners with Solana Labs to Develop blockchain-based Games

by Blockchain News

Game developer for PC and mobile devices Krafton partners with Solana Labs to develop blockchain-based games and services in the Metaverse world.

Krafton, stylized as KRAFTON which was formerly known as Bluehole, is a South Korean company that develops and distributes video games based in Bundang-gu, Seongnam.

The South Korean gaming giant hopes to boost its position in the market by developing a Metaverse “money-making” game using blockchain technology.

The company even made its wildly popular PUBG game free last year. PUBG is ranked among the top downloaded games on Steam and routinely has close to 10 million active users.

The lead executive of Web 3.0 Roundtable at Krafton, Hyungchul Park, said in a statement that:

“As one of the best global high-performance blockchain with strength in high speed and low fees, Solana represents the best of the Web 3.0 ecosystem and its technologies. Through this cooperation, KRAFTON will acquire the insight needed to accelerate its investment in and output of blockchain-based experiences.”

According to the agreement, KRAFTON and Solana Labs will establish a long-term partnership to develop and operate blockchain and NFT-based games and services. However, Krafton has yet to say whether it will integrate blockchain technology into existing games.

Compared to Ethereum’s Solidity language when developing play-to-earn (P2E) games, the ease of use of Solana’s building language- Rust will give Solana a competitive edge.

Solana has already rolled out $400 million to enhance Web3 gaming over the last six months.

Image source: Shutterstock

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Ethereum-Challenger Solana (SOL) Launches New Peer-to-Peer Payments Feature

by Dailyhodl

Smart contract platform Solana (SOL) is launching a new peer-to-peer payments feature that lets customers directly pay merchants.

According to an announcement by Solana Labs, consumers can now deposit cryptocurrencies or fiat dollars directly into vendor accounts for less than the cost of a penny using Solana Pay, cutting out the need for expensive intermediaries and middlemen.

“Solana Pay, a new payments protocol, ushers in a new era of payments and commerce. Our team helped create the building blocks for a decentralized, open and truly peer-to-peer payment protocol.

We believe this will pave the way for a future where digital currencies are prevalent and digital money moves through the internet like data – uncensored and without intermediaries taxing every transaction.”

Solana Pay would also serve as a communication hub between buyers and sellers.

“The core premise behind Solana Pay is that the payment and underlying technology goes from being a necessary service utility to true peer-to-peer communication channel between the merchant and consumer.”

Solana Labs says that the next phase of the feature would allow merchants to send digital assets directly back to customers.

“The next phase of development of the protocol will enable merchants to send digital assets back to the consumers which will open up new capabilities in commerce not possible before…

When a customer buys something, it’s a vote of support. A merchant should reward that support with personalized offers, on-chain loyalty programs, and unique virtual goods to accompany physical purchases.”

Solana is exchanging hands at $98.12 at time of writing, a 12% increase from its seven-day high of $87.63.

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Featured Image: Shutterstock/Tithi Luadthong

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Solana hit with another network incident causing degraded performance

by Cointelegraph

The Solana blockchain has suffered a third incident in just a few months that clogged the network and caused transactions to fail, with users debating whether it was caused by another DDos attack or if it was just network issues.

The scale and nature of the incident is hard to ascertain, with Coinbase, Wu Blockchain and Redditors reporting there had been an incident causing the network to slow and transactions to fail. However Solana Labs co-founder Anatoly Yakovenko denied there had been a DDoS on this occasion.

The latest incident comes less than a month after a previous attack which saw reports the network was clogged with mass botting due to another Initial DEX offering (IDO) on Solana-based decentralized exchange platform Radium.

According to Wu Blockchain, the Solana network went down for around four hours in the early morning of Jan. 4 UTC time as a result of an apparent DDoS attack. Solana.Status shows the network has been fully operational with 100% uptime over that period.

A post on the r/CryptoCurrency group on Reddit yesterday also shared several screenshots of Solana (SOL) users reporting issues with failed SOL transactions around the time of the potential DDoS and network downtime. Coinbase also provided an incident report over the past 24 hours on the Solana network’s “degraded performance” that resulted in failed withdrawals of SOL on the crypto exchange.

“This is why you don’t use a service’s own status page to come to conclusions especially if it masquerades as a decentralized blockchain, but in reality is just a glorified database,” user u/Set1Less wrote.

But other users responding to the r/CryptoCurrency post in the r/Solana community questioned the validity of the claims, with “NiftyMufti” stating that:

“So instead of echoing random people’s opinions, why don’t you show the charts? A DDoS attack and downtime would have shown in the block explorers. I see no such signs. Prove me wrong. Which hours in which timezone was this supposed to have taken place?”

Solana Labs co-founder Yakovenko echoed as such on Twitter earlier today, noting that the network issues weren’t related to a DDoS, and were just the “pain of getting a new runtime commercialized.”

In a separate Twitter thread, Yakovenko also stated that the “cost model for compute is still a [little] wonky, real fix to deal with this is in 1.9, where TXs have to specify all the resources they use upfront.”

Related: Top crypto winners and losers of 2021

In an interview with Cointelegraph on Dec. 22, Austin Federa, head of communications at Solana Labs said that developers are currently working to address the network’s issues, specifically in relation to improving transaction metering.

“Solana’s runtime is a new design. It doesn’t use EVM [Ethereum Virtual Machine] and a ton of innovation was done to ensure that users have the cheapest fees possible, but there’s still work to be done on the runtime,” he said.