Solana Validators Complete Restart, Laos Ends Crypto Ban
Now the network has suffered intermittent stability issues which have led to calls for a restart of the entire network. That story and a lot more coming up now lets get you up to speed from asia to the world. First up crypto industry, darling solana, has had a dramatic change of fortune. The price of its native token has plunged more than 25 percent. From last weeks. All time highest technical troubles have plagued the network forecast news. Lachlan keller has the details. Solana announced it was experiencing intermittent instability on the networks mainnet beta overnight, tuesday, asia time the company later confirmed. The problem was due to a massive increase in the transaction load that peaked at over 400 000 transactions per second as well over the 65 000 transactions per. Second, the network is capable of the overload caused the network to start forking, resulting in some nodes going offline. Shortly after that happened, the validated community opted to restart the network, providing instructions on how to do so via twitter and discord. Solana, tweeted that the mainnet beta restart was successfully completed after an upgrade to 1.6.25 by wednesday afternoon asia. Time saying, daps, block explorers and supporting systems would recover restoring full functionality. Within a few hours. One expert told forecast news. Glitches are to be expected across all blockchains early on in their development, saying bitcoin experienced similar issues so theres nothing new or strange. What we should be looking at is kind of how does problem solving take place um? To what extent do we see a dependency on centralization, because that would be a kind of bad prospect for a long term protocol that is really built around kind of open network ethics and um.
You know decentralization caseland said hes. Confident solana will fix the problems and the takeaway should be that, instead of getting worried, it makes more sense to monitor how blockchain protocols handle such technical issues, while maintaining trust in their communities for forecast news im blocking keller. Meanwhile, one of asias, most impoverished nations has ended a three year ban on crypto trading and mining. The government of laos has selected six firms to take part in a pilot program that will also work in developing crypto laws for the country forecast news. Monica gauche has the details. Just last month the countrys central bank reiterated the governments 2018 ban, reminding people that trading crypto was prohibited by law. But now, according to a government notice, the ban has ended with six firms allowed to begin a trial of both mining and trading cryptocurrencies, including bitcoin, ethereum and litecoin. Alongside that, a host of government ministries have been working with the central bank and other organizations on researching rules and regulations for the use of cryptocurrency with their findings to be presented at the prime minister and deputy prime ministers meeting this week. The government says it is trying to become the battery of southeast asia by building dams on the mekong river, to boost its hydropower generation to 24 000 megawatts, with the aim of exporting 80 of that power by 2030.. That could enable the country to tap into the cryptocurrency mining industry following the exodus caused by chinas ongoing fractal for forecast news im monica bush.
Finally, today, the past couple of days have seen criticism over nfts appearing in chinese state owned media, but things look to be back on track with the release of an official 2022 asian games. Nft collection forecast news, timmy, shen reports from taipei, taiwan, the organizers say this is the first time in the history of the asian games that an nft collection has been released and it will give everyone the opportunity to become a torchbearer. How well thats, because the artwork features a 3d digital version of the torch for the games? The limited edition of twenty thousand nfts priced at thirty nine renminbi or around six us dollars goes on sale on thursday. The audi pays in app nft sales feature the 19th edition of the games, an event which is held every four years is set to begin in just under one years time, with athletes from all around the region, competing in more than 20 sports for forecast news im, Timmy shan taipei, taiwan goes to show everything still in play for the nft world and thats the daily forecast, from our vantage point right here in asia, for more visit, forecast.