About two months after the FTX collapse, the Solana network is stronger than ever, according to Austin Federa, the head of strategy and communications at the Solana Foundation. Federa defines the recent SOL token price crash as a short-term market reaction to the perceived connection between Solana and the defunct crypto exchange FTX. While FTX founder Sam Bankman-Fried was invested in many Solana-based projects, Federa pointed out he didn't have any influence on the network’s operations and fundamentals. “The external perception was that there was a very close relationship between the Solana network and FTX, which wasn't the case," Federa …

During the frenzied bull run, transaction fees were running rampant. Over on the Ethereum blockchain, they hit eye-watering highs of $196.638 back in May — rendering the network unusable for most everyday consumers. The Bitcoin blockchain suffered from a similar issue the year before, accelerating to a record-breaking $300.331. When demand is high, it's easy for Proof-of-Work networks to get congested — prompting miners to prioritize the transactions with the highest fees. Here's the problem: high fees undercut one of crypto's most potent use cases — a decentralized way of offering peer-to-peer transfers. If sending funds from A to B …

Non-fungible token (NFT) app developers and others have balked at a decision by tech giant Apple to impose a 30% commission on NFTs sold through apps on its marketplace, effectively putting NFT purchases in the same boat as regular in-app purchases. According to a Friday report from The Information, the smartphone company is now allowing NFTs to be bought and sold through apps listed on its marketplace but imposes its standard commission on in-app purchases of 30% — similar to that imposed by Android’s app store Google Play. The commission rate has however been slammed by some for being “grotesquely …

The average transaction fees on the Bitcoin (BTC) blockchain fell below $1 for the first time in over two years, further strengthening its use case as a viable mainstream financial system. High transaction fees over blockchain networks work against the users, especially when making low-value transactions. For example, transaction fees over Ethereum (ETH) blockchain skyrocketed several times during the nonfungible token (NFT) hype, inducing stress on general users. While the Bitcoin ecosystem has also endured its fair share of high transaction fees in the past, timely upgrades — including the Lightning Network and Taproot — guarantee faster and cheaper transactions …