Hey Degens, here is TL;DR for today:

  • Solana Validators to make Second Restart Attempt as Transaction Freeze Drags On
  • $XRP Ledger Developers Unveil Proposal That Could ‘Significantly Expand’ Its Use Cases
  • Sudoswap: Cumulative trading volume crosses $100m milestone, but user activity has declined consistently

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Solana’s second Restart Attempt

The Solana network’s deep freeze continued Saturday as validators were preparing a second restart attempt that they hoped would restore service to users of the blockchain.

A first attempt was abandoned when validators realized they picked the wrong point at which to restart.

Solana Out Of Order

The chain’s block production has ceased and transactions aren’t processing or being validated. At press time validators, working in conjunction with developers at Solana Labs, were again attempting to restart the chain and had gotten some 70% of total stake behind the move. The network needs an 80% supermajority to proceed.

Source: Coindesk

$XRP Ledger Developers unveil proposal that could ‘Significantly Expand’ its Use Cases

Xrp Coin

The proposal was published by Ripple software engineer Mayukha Vadari on GitHub and was subsequently shared on Twitter. It outlines the potential creation of a blockchain bridge.

Late last year Ripple’s chief technology officer David Schwartz said that the XRP Ledger supports “native NFTs” thanks to the XLS-20 standard.

Source: Crypto Globe

Sudoswap: Cumulative trading volume crosses new ATH, but user activity has declined consistently

The cumulative trading volume on the decentralized NFT marketplace has crossed the $100 million milestone. While this remains notable, it is noteworthy to point out that daily trading volume on Sudoswap peaked at $2.3 million on 17 August 2022 and has since been on a downward trend.

Trading Volume On Decentralized Nft Marketplace

Per data from Dune Analytics, the NFT swapping platform has seen a steady fall in the count of new users since August 2022. Similarly, the count of recurring users on the platform has since dipped. The reduced user activity on Sudoswap has led to a corresponding decrease in the number of daily transactions and the count of traded NFTs.

Daily Transactions And The Count Of Traded Nfts

Furthermore, Sudoswap currently registers a steady decline in protocol revenue. The downward trend in transaction volume means there have been fewer users on the platform, resulting in a loss of fees for Sudoswap.

Source: AMB Crypto

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