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- Jump Crypto, is working to rebuild the core part of Solana infrastructure.
- The rebuild on Solana will remove the slowdowns on the network and increase efficiency and network resilience.
The crypto trading firm, Jump Crypto, is on its way to rebuild the infrastructure of Solana. The Solana network has the issue with several slowdowns and outages, hence the following upgrade on its network will sort these issues.
Jump Crypto Upgrade on Solana Blockchain Network
The Jump Trading Group is working with a new validator client to secure the Solana blockchain network. It will be basically a Software upgrade. As per Jump Crypto recent statement, it will “propose significant upgrades to Solana’s open-source core software.” The following statement was released on Tuesday by Jump Crypto.
Additionally, the executive director of Solana Foundation, Dan Albert, stated that, “Jump has unparalleled experience with over 20 years of scaling networks and building highly performant software systems. Their contributions to the Solana Network will improve mission-critical systems, helping the network scale to billions of users.”
Furthermore, the co-founder of Solana, Anatoly Yakovenko said about the Solana upgradation that, “I’m excited for Jump’s engineers to bring a new perspective to the network and help improve network resiliency and efficiency.”
Jump Crypto Initiative- Firedancer
Jump Crypto named its initiative, Firedancer, which will be supervised by the chief science officer at Jump Crypto, Kevin Bowers. It will build the validator client by using C++ programming language, which has a long history in the quantitative trading circle. About the initiative, Jump Crypto stated that it is an “important step in the network’s continued decentralisation.”
Jump Crypto shared its experience with the danger of the project depending on a single company. That also turns towards a cross-blockchain bridge, Wormhole, which was hacked earlier this year. Whereas Jump Crypto accumulated money to cover the losses from the $320 million exploit.
In addition, Jump Crypto further expanded Wormhole to the Terra blockchain network last October. But, the involvement of Jump Crypto on Solana is quite unexpected at this time. While Solana noted a major drop by around 12% in June and around $5 million hacking of thousands of user wallets got affected earlier in August.
The performance of Solana this year was approximately down with 75%. While at present it is performing at a price of $42.87 USD in down 2.98% from the last 24 hours.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
