Burnt Finance, a protocol built on Solana, has raised $8 million in a funding round led by Animoca Brands. It also launched its non-fungible token (NFT) platform.The capital will go toward adding staff and exploring partnerships with artists and other Solana-based projects.Burnt Finance, known for burning a piece of artwork from street artist Banksy before selling a digitized … [Read more...] about Animoca Brands Leads $8M Fundraising Round for NFT Platform Built on Solana
Solana
Solana Could Become the ‘Visa of Digital-Asset World’: Bank of America
“Solana prioritizes scalability, but a relatively less decentralized and secure blockchain has tradeoffs, illustrated by several network performance issues since inception,” Shah said. “Ethereum prioritizes decentralization and security, but at the expense of scalability, which has led to periods of network congestion and transaction fees that are occasionally larger than the … [Read more...] about Solana Could Become the ‘Visa of Digital-Asset World’: Bank of America
Binance.US Is Building an Office in the Solana Metaverse
Crypto exchange Binance.US is building a space in Portals, a metaverse platform built on the Solana blockchain. Portals recreates a dense urban environment where users can explore buildings and interactive rooms.“Binance.US is getting a space in Portals Downtown with a focus on delivering the latest news, charts, and events virtually,” Portals head of community and partnerships … [Read more...] about Binance.US Is Building an Office in the Solana Metaverse
Solana DeFi Major Serum’s ‘Incentive Ecosystem Foundation’ Is Raising $100M
The team behind one of Solana’s largest projects is midway through a $100 million raise to expand operations. According to a press release provided to CoinDesk, the Incentive Ecosystem Foundation, the legal entity staffing the team behind the orderbook-based decentralized exchange, is raising the funds to hire and move into new product verticals, including “NFTs, gaming, … [Read more...] about Solana DeFi Major Serum’s ‘Incentive Ecosystem Foundation’ Is Raising $100M
Solana network faces degraded performance for the second time this week
The Solana blockchain has faced its second network performance degradation incident this week. According to Solana, this is happening because of a rise in high compute transactions. As a result, the network capacity, which was originally advertised to be 50,000 transactions per second (TPS), was reduced to several thousand TPS. Solana cited this as the reason why users … [Read more...] about Solana network faces degraded performance for the second time this week