Welcome to the protocol, the weekly conclusion of Coindesk of the most important stories of the technological development of cryptocurrencies. I am Margaux Nijkerk, reporter Tech & Coindesk Protocols.
In this issue:
- Solana’s Seeker phone fixes the saga defects with upgrading of usability
- The base says that the failure of the sequencer caused the production of blocks of 33 minutes
- The Jito de Solana offers to drive 100% of the engine costs in block in Dao Treasury
- The Cardano community approves the Core Dev budget of $ 70 million, increasing Ada’s prospects
Network news
The Solana Seeker phone begins the shipment: The Solana Seeker phone is not your average smartphone, and it doesn’t want to be. Drawing on the lessons of its predecessor, the saga, the last device of Solana Mobile, reinstalls what a crypto-native phone can be. Smaller, lighter and boasting of a more durable battery than its predecessor, the researcher aims to improve the user experience while overtaking its conviviality by cryptocurrency. Outside the box, it is clear to who serves this device: Active Solana users who regularly translate the chain, with the design focused on everything that is cryptocurrency. With 150,000 pre -ordered phones from more than 50 countries and at a price of $ 500, the researcher wants to bring participants to the Solana ecosystem the ability to transform into a few seconds. If you are someone who frequently uses Solana, the researcher may have the impression of having been built specifically for you. However, this phone is not intended for the user of occasional cryptography. “If you are someone who makes transactions at least once a week, frankly, then you may not be a complete power user, but you are at least a sufficiently regular user that the researcher makes sense,” Emmett Hollyer, the director general of Solana Mobile, told Coindesk in an interview. Read the complete Coindesk criticism on the phone here. – Margaux Nijkerk Learn more.
Post mortem on the production of base blocks. : The production of blocks on the basic network of Coinbase (corner) stopped for 33 minutes early Tuesday after a sequencer switch which did not recover as expected, the developers said in a post-mortem report. The breakdown started at 06:07 UTC on August 5, when the active sequencer was late due to the congestion of chain activity. While the basic driver module – a central component of the OP battery designed to maintain availability – has correctly tried to move leadership to a rescue sequencer, the new instance had not been fully provisionable and could not produce blocks. Since it could not change automatically, production is dead until the engineers manually summarize the problem. The network was completely recovered at 06:40, depending on the report. To avoid the risks of reorganization, that is to say when a blockchain temporarily rewrites the story by replacing the blocks confirmed by alternative blocks-the team made a conductor break and coordinated a controlled leadership transition. This process has contributed to the duration of the breakdown. The breakdown has highlighted an operational key risk in layer 2 rollers that rely on centralized sequencers to order and submit transactions. These systems remain dependent on the rapid tilting mechanisms and full supply, and a single point difference in this chain can cause complete network stands. – Shaurya Malwa Learn more.
New Jito proposal to re -block the engine costs in blocks: Jito Labs presented a new governance proposal, called JIP-24, aimed at decentralizing the network more by buying all of its engine and assembly costs in block (BAM) directly from the Jito Dao Treasury. If it is approved, the DAO would suppose control of the protocol income sources, by directing them to the holders of JTO tokens of the network. This, in turn, would reduce the influence of Jito Labs on the network of the same name, a DAO subgroup playing a greater role in development. Jito Labs hopes that change will ultimately increase the value of the Jito token. Currently, Jito’s block rewards are divided uniformly – 3% at Jito Labs and 3% in the DAO. JIP-24 would eliminate the split, sending 6% of the costs, as well as all future income linked to the BAM, to the Dao Treasury permanently. “This proposal reflects the commitment of the Jito ecosystem to ensure that the protocol costs accumulate directly to the holders of tokens as optimally as possible and cement the DAO as the central of the technical and economic governance of the Jito network,” wrote the Jito Labs team in their proposal. – Margaux Nijkerk Learn more.
Cardano Core of developers obtain a budget of $ 70 million : The basic development team of Cardano, Etar Output Global (IOG), obtained the approval of a cash allowance of $ 71 million to finance 12 months of network upgrades following a developed governance vote which aroused concerns concerning transparency, responsibility and cost. The proposal was adopted with 74% in favor and authorizes the disbursement of 96 million ADA, or approximately 13% of the Protocol Treasury, at IOG. Payments will be based on a milestone and supervised by Intersect, a membership -oriented governance organization. Intelligent contracts and an independent committee will add additional monitoring, said Iog. The key deliverables include Hydra, a layer 2 layout product for faster and cheaper transactions, and Project Acropolis, which aims to re -chite the Cardano node for greater modularity and ease of integration of the developer. The team also plans to reduce the use of memory and improve the operational costs of the validators. Such implementations may possibly lead to an increase in developers’ activity and new use cases on the Cardano network, contributing to the request of ADA, the gas token. – Shaurya Malwa Learn more.
In other news
- Large banks make it more difficult and more expensive for consumers to use Fintech and Crypto applications, which is equivalent to what could be considered “Operation Chokepoint 3.0”. It is according to Alex Rampell, general partner of the venture capital company Andreessen Horowitz (A16Z). In the latest Newsletter Fintech of the company, Rampell stressed that traditional financial institutions invoiced high costs to access account data or move money, in particular to services such as Coinbase or Robinhood, as a movement to strangle competition. “Under the Biden administration, the ChokePoint 2.0 operation tried to uncheck and move the crypto,” said Rampell. “This era is over, but now banks aim to implement their own gokepoint 3.0 – Billing incredibly high costs to access data or move money to Crypto and Fintech applications – and, more specifically, block the Crypto and Fintech applications they don’t like.” – Francisco Rodrigues Learn more.
- When Celestia broadcast her TIA token at 580,000 users in 2023, it was the dish of the day among merchants and investors, the project claiming that the release was aligned with a new “modular era”. However, despite the rally at a dizzying price of $ 20 in September 2024, he has since dropped to less than $ 1.65 in a desperate spell stimulated by a series of massive cliffs in the token acquisition calendar. Tokenomist data show that the basic contributors and the first donors, in particular a multitude of venture capital, could sell tokens purchased relatively at a lower cost in the first round of fundraising on the free market. This coincided with the rushed passage of TIa downwards, although it should be noted that the market capitalization of the token, currently at 1.2 billion dollars, in fact increased by 50% despite the loss of 90% of its value due to the supply scale. – Oliver Knight Learn more.
Regulation and Policy
- The White House is preparing a decree that would penalize banks to cut customers on their beliefs. The order, reported by the Wall Street Journal, is expected to be signed by President Donald Trump this week. He would order banking regulators to investigate whether financial companies violated the equal opportunities for credit or other consumer protection laws when closing the accounts. Although the order can still be modified, it would bring additional stability to the cryptography sector. During the Biden administration, a coordinated effort of the federal government was launched in Crypto-Banc companies, an effort known as the Operation Chokepoint 2.0. The draft prescription does not appoint specific banks, but would have referred to an incident involving Bank of America and a Christian non -profit organization in Uganda. The bank said it has closed the accounts because it does not serve small businesses operating abroad. Francisco Rodrigues Learn more.
- A group of French legislators is preparing a bill which would allow the use of excess electricity of nuclear power plants to exploit Bitcoin, according to recent public declarations. The proposal would install mining equipment in installations belonging to the state of the state, elected from France (EDF), according to Le Monde. The process would benefit from the excess energy generated by these nuclear power plants. France is the largest nuclear energy producer in the European Union, according to 2023 Eurostat data. He represented 338,202 hours of Gigawatt, more than half of the total production of the block in 27 countries. The heat produced by nuclear fission is used to produce electricity, but more than two thirds are lost, said the statistics agency. – Francesco Rodrigues Learn more.
Calendar
- September 22-28: Korea Blockchain Week, Seoul
- October 1-22: Token2049, Singapore
- October 13-15: Digital Asset Summit, London
- October 16-17: Blockchain European Convention, Barcelona
- November 17-22: DevConnect, Buenos Aires
- December 11-13: Solana Breakpoint, Abu Dhabi
- February 10-12, 2026: consensus, Hong Kong
- May 5-7, 2026: consensus, Miami
