The Solana network faced its seventh outage on Saturday, resulting in a downtime of over seven hours. The developer team has released an outage report, along with three key mitigation steps to make the network more stable. The network outage on Solana was caused by a significant surge in the number of transactions due to nonfungible token (NFT) minting bots. The bots used Candy Machine, a popular application used by Solana NFT projects to launch collections. The transaction volume reached six million per second, overflowing individual nodes with 100 Gbps data. As a result, validators ran out of data memory, …

The Solana network suffered a seven-hour outage overnight between Saturday and Sunday due to a large number of transactions from the nonfungible token (NFT) minting bots. A record-breaking four million transactions, or 100 gigabits of data per second, congested the network causing validators to be knocked out of consensus resulting in Solana going dark at roughly 8:00 pm UTC on Saturday. It wasn’t until seven hours later on Sunday, 3:00 am UTC that validators were able to successfully restart the main network. Validator operators successfully completed a cluster restart of Mainnet Beta at 3:00 AM UTC, following a roughly 7 …

Despite often producing results higher than the traditional market, trading cryptocurrency is not all butterflies and rainbows. Higher rewards are the direct result of a more complicated market, one lacking in the fundamentals. To compare, consider the process of purchasing a stock. Before engaging in a trade, investors have access to quarterly earnings and sales reports, among other metrics for success. The cryptocurrency market, in contrast, lacks these same proof points, requiring traders to look at in-depth technical analysis for verification instead. Since the technical analysis process is complex, new investors often find themselves discouraged from entering the market or …

It's a hard rock life for one crypto user. A clumsy keystroke and the actions of a sniper bot caused a million-dollar mistake on March 10. A rock valued at 444 ether (ETH), or $1.2 million, sold for 444 Wei ($0.0012) to a bot as the seller, DinoDealer confused WEI and ETH. In a tweet, the seller said “in one click my entire net worth of ~$1 million dollars, gone.” How's your week? Mine? I just erroneously listed @etherrock #44 for 444 wei instead of 444 eth‍♂️ Bot sniped it in the same block and trying to flip for 234 …

“Hodling” really is the way when it comes to accumulating Bitcoin (BTC). At least, that’s the conclusion made by an AI trading bot coded up by a Portuguese software developer. Bitcoiner Tiago Vasconcelos is the man behind the trading experiment. Vasconcelos built an AI trading bot that would help him accumulate more Bitcoin and test his coding skills. Almost inconceivably, instead of trading, the bot quickly concluded that the best way to trade Bitcoin is to buy and hold onto it. Vasconcelos is the lead founder of Aceita Bitcoin, a Portuguese organization promoting the adoption, education and sharing of information …

While a bullish backdrop emerges in February, spare a thought for the traders trying to time the market. One savvy trader by the name of Samjhill on Reddit has built a trading tool that outperforms dollar-cost-averaging (DCA) for buying Bitcoin (BTC). DCA is the strategy in which investors buy a small amount regularly regardless of price fluctuations. It works in contrast to traders keen to get the lowest entry, timing the dip to perfection and avoiding “catching a falling knife.” The aptly named “Buy the Dip Bot” aims to “get the best price for a given asset by using a …

How to apply automated trading in times of correction? Investors looking to leverage automated trading must first select a platform, determine their strategy and begin implementation. With the rising of automated trading platforms, users now have a greater selection than ever before, each of which is designed to simplify the process for new and experienced investors alike. TradeSanta is a cryptocurrency trading bot used across the cryptocurrency industry, allowing users to take advantage of automated trading strategies. The trades are executed per market movements based on pre-programmed instructions with access to DCA and grid strategies, in addition to more advanced …

There are many advantages to automating one's trading tactics instead of pointing and clicking with a mouse. For starters, bots can execute trading decisions free of emotion, are lighting fast, and have far fewer margins of error. According to CNBC estimates, crypto trading bots account for 70% to 80% of the overall trading volume. TokenBot is an automated copy-trading platform designed for social trading groups and communities within messaging apps such as Discord, Telegram, and Slack. Once added to a social media group, TokenBot monitors the admin's account on an exchange and automatically notifies members of their trading activity details …

The Solana blockchain has suffered a third incident in just a few months that clogged the network and caused transactions to fail, with users debating whether it was caused by another DDos attack or if it was just network issues. The scale and nature of the incident is hard to ascertain, with Coinbase, Wu Blockchain and Redditors reporting there had been an incident causing the network to slow and transactions to fail. However Solana Labs co-founder Anatoly Yakovenko denied there had been a DDoS on this occasion. The latest incident comes less than a month after a previous attack which …

Founded in 2017, OKEx is a centralized cryptocurrency exchange based in Seychelles. According to CoinGecko, OKEx is the world's third-largest cryptocurrency brokerage, with nearly $12 billion in trading volume within the past 24 hours. The exchange lists 312 coins and 518 cryptocurrency trading pairs. It's often difficult for new cryptocurrency enthusiasts to navigate the complex world of trading and finance. OKEx seeks to bring such sophisticated trading methods to everyday users' disposal by building simple user interface. During an exclusive ask me anything, or AMA, session with Cointelegraph Markets Pro Users, OKEx staff discussed trading tools, financial regulation, the OKExChain …

Identity verification tech firm Civic Technologies has launched a free tool to combat botting activity in Solana (SOL)-based NFT drops. According to a Nov. 8 announcement, Civic’s new tool “Ignite Pass” will filter out bots by requiring buyers to complete a liveness verification before being approved to make NFT purchases. Civic’s website notes that users will be required to take a video selfie in order to verify, with an Ignite Pass then being issued to their wallet address upon completion. The pass also remains active for 24 hours to “limit the options of malicious botters verifying multiple wallets. ” The …

The growth of layer-two protocols has been one of the major stories of 2021 as the rising popularity of decentralized finance (DeFi) and nonfungible tokens (NFT) have driven transaction costs higher on the Ethereum (ETH) network effectively pricing out many participants. Earlier this year the Polygon network, formerly known as MATIC, emerged as one of the top contenders in the race for an effective Ethereum layer-2 scaling solution, and the project's QuickSwap DeFi platform was also one of the more successful Uniswap clones. The platform was quite popular initially but as other platforms like Arbitrum and Optimism popped up, discussions …