Solana users faced network issues following the recent memecoin launches by US President-elect Donald Trump and his wife, Melania, ahead of the official presidential inauguration on Jan. 20.
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Solana users faced network issues following the recent memecoin launches by US President-elect Donald Trump and his wife, Melania, ahead of the official presidential inauguration on Jan. 20.
Trump's advisory team introduced the Official Trump (TRUMP) memecoin on Jan. 18 and the Official Melania (MELANIA) token on Jan. 19 on the Solana network, preceding Trump's presidential inauguration on Jan. 20.
The memecoin launches led to significant trading volume on Solana, reportedly causing network congestion. Solana's blockchain explorer had not shown any new transactions in the 30 minutes leading up to 9:43 pm UTC on Jan. 19, wrote pseudonymous crypto trader Dave in an X post.
The Solana blockchain's resilience, along with the debate between monolithic and modular blockchain scalability, was reignited by a major Solana outage in February 2024, which forced validators to restart the network after block production halted.
Despite the reported congestion issues and some transaction failures, Solana has maintained 100% uptime in the past 90 days, with no outages since Feb. 6, 2024, according to data from Status.Solana.
The Hashgraph Association, a nonprofit dedicated to developing ecosystems with Hedera Hashgraph's decentralized ledger technology, has teamed up with digital asset infrastructure provider Taurus.
This partnership aims to facilitate secure custody, staking, and tokenization of Hedera's HBAR cryptocurrency and other assets for financial institutions, thereby making the ecosystem more accessible to banks and enterprises worldwide.
Kamal Youssefi, president of the Hashgraph Association, informed Cointelegraph that digital assets are flourishing in Europe, Asia, the Middle East, and Africa.
''Europe has taken the lead with MiCA offering clear guidelines for digital assets in the region, removing any regulatory uncertainties that may exist in markets like the US,'' he stated.