Robert Steinadler, 4 months ago
It has been silent around Cardano for quite some time. Most investors were distracted from the bear market and didn’t notice that further refinements came in and IOG as well as the community kept building in the background. It was yesterday when that silence was broken and a wave of confusion rolled all over the Cardano community.
Why did more than half of all Cardano nodes go down, and can this situation be avoided in the future?
Yesterday, the Cardano network had to face an outage that was quickly resolved within minutes. The more interesting part is that there was no reason found why about 60% of all block-producing nodes went down at the same time.
The good news is that a restart of the affected nodes resolved the problem and that a network-wide restart wasn’t necessary. This is a situation that Solana had to face several times in its short history and because of this, critics claim that the high-speed blockchain is unreliable. It is safe to say that Cardano dodged a bullet because critics would have been unforgiving.
Charles Hoskinson didn’t comment on the event at the time of writing. Hoskinson said that he might be interested in acquiring Coindesk. Since he is one of the most outspoken people, it is not unlikely that he will personally address the incident and answers some of the most pressing questions.
Even though the outage is a little bit scary since it is fundamentally important that a blockchain and its network runs undisturbed, there is also good news. The ADA price wasn’t impacted by the event, and it seems that the market is still busy with the current rally.
ADA has recovered a little bit more than 50% since the beginning of this year and should the recovery indicate at some point that the overall trend is changing, then ADA is already sitting in a good spot. Cardano is currently the eighth biggest cryptocurrency according to its market cap. It even ranks fifth when not taking stablecoins into account.
It remains to be seen if the outage was a one-time event and how other blockchains will do in the near future. This and the potential partnerships Cardano is building will decide if it is going to defend that place. Solana, Polygon, and Polkadot are following closely behind and are competing in the same fields as Cardano. It is not an easy task to stay competitive in such an environment.
May 22, 2023
On Saturday, Tornado Cash's DAO was taken over by an attacker, or group of attackers. It's another backlash for the plagued coin mixer which makes privacy for Ethereum holders possible. In an interesting turn of events, a day later the attacker proposed to undo his attack. Never a boring day in crypto!
May 17, 2023
Ripple has been fighting against the SEC in court since December 2020. Some analysts believe that the case could conclude this year, while others argue that each party could try to appeal the court’s decision. Whether the subject is finally settled, all believe the first verdict will provide essential guidance in the US judicial system. Should the SEC lose, then many other crypto projects could be strengthened. Winning the case could mean the SEC could go after many other cryptos.
May 16, 2023
Apple's WWDC 2023 event will kick off on June 5. Rumors that Apple will present a first look at its AR/VR headset are doing the rounds. Supposedly looking like a pair of ski goggles, the headset will only arrive on the market at the end of this year. Being crypto investors, let's talk a bit about the potential implications of this for metaverse coins.
May 15, 2023
Today the Bitcoin Cash network will go through a voluntary hard fork to implement an upgrade. One particular part of that upgrade is highly interesting since it introduces tokens on the Bitcoin Cash blockchain. Tokenization has been a topic for several years and it seems that Bitcoin Cash is late for the party. However, Ordinals have proven on Bitcoin that even a late arrival can still unleash a storm and create a billion-dollar market.
Sign up to stay informed via our email updates