{"id":32393,"date":"2022-10-18T13:46:42","date_gmt":"2022-10-18T13:46:42","guid":{"rendered":"http:\/\/egrowonline.com\/?p=32393"},"modified":"2022-10-18T13:46:42","modified_gmt":"2022-10-18T13:46:42","slug":"solana-killer-a-radical-new-2-billion-facebook-spinoff-cryptocurrency-is-coming-despite-the-huge-bitcoin-ethereum-and-crypto-price-crash","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=32393","title":{"rendered":"\u2018Solana Killer\u2019\u2014A Radical New $2 Billion \u2018Facebook Spinoff\u2019 Cryptocurrency Is Coming Despite The Huge Bitcoin, Ethereum And Crypto Price Crash"},"content":{"rendered":"


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Bitcoin
\n BTC<\/a>
\n and cryptocurrencies are currently snowed in as a bitter crypto winter shows no sign of thawing<\/a> any time soon (though some think they’ve spotted a $28 trillion opportunity<\/a>).<\/p>\n

Subscribe<\/em><\/strong> <\/em>now to <\/em><\/strong>Forbes’ CryptoAsset & Blockchain Advisor <\/em>and successfully navigate the $2 trillion bitcoin and crypto market crash<\/em><\/strong><\/a><\/p>\n

The bitcoin price is stuck under the psycological $20,000 per bitcoin level after plummeting more than 70% from its all-time high of almost $70,000 while ethereum and other top ten cryptocurrencies such as solana are down even worse<\/a>. <\/p>\n

Now, despite fears growing market “panic” could send markets down by another 20%, a new<\/a>, highly-anticipated cryptocurrency project that’s been branded<\/a> a “solana killer” and valued at $2 billion by its top venture capital backers has launched to much fanfare but has recieved a mixed response.<\/p>\n

It’s in a brutal bear market that you need up-to-date information the most! <\/strong>Sign up now for the free CryptoCodex<\/em><\/strong><\/a>\u2014A daily newsletter for traders, investors and the crypto-curious that will keep you ahead of the market<\/strong><\/p>\n

MORE FROM FORBES<\/span>Coinbase CEO Reveals Sale Bombshell Following $2 Trillion Bitcoin, Ethereum And Crypto Price Crash<\/span>By Billy Bambrough<\/span><\/small><\/span><\/span><\/a><\/p>\n

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The bitcoin and crypto industry has continued to attract investor attention despite its huge $2 … [+]<\/span> trillion price crash. <\/span><\/p>\n

AFP via Getty Images<\/small><\/figcaption><\/figure>\n

Aptos, a new blockchain and cryptocurrency created by former Meta employees Mo Shaikh and Avery Ching who worked on the Facebook parent’s failed libra-turned-diem bitcoin-inspired digital currency, was launched this week by Aptos Labs\u2014with support from crypto exchanges Binance, FTX and OKX coming as soon as this week. <\/p>\n

“We are proud to arrive here together, for the people,” Aptos developers wrote in a blog post<\/a>. “This is step one in a long journey to create universal and fair access to decentralized applications for billions of people through a safe, scalable, and upgradable blockchain.”<\/p>\n

Aptos, using the same programming language as Facebook’s failed crypto project that’s designed to lower transaction costs and increase speeds, is aiming to become the home for the decentralized web3. Developer claim it will be able to host non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs) and decentralized finance (DeFi) better than the likes of ethereum, solana and other rival blockchains.<\/p>\n

Ethereum
\n ETH<\/a>
\n , which has recently undergone a long-awaited upgrade to proof-of-stake from bitcoin’s proof-of-work, is continuing to struggle with high cost and slow transaction times while solana has suffered a number of network outages.<\/p>\n

Sign up now for <\/strong><\/a>CryptoCodex<\/em><\/strong><\/a>\u2014A free, daily newsletter for the crypto-curious<\/strong><\/p>\n

MORE FROM FORBES<\/span>It ‘Really Is The Answer’-Kanye West, JPMorgan And PayPal Reveal The ‘Case For Bitcoin’<\/span>By Billy Bambrough<\/span><\/small><\/span><\/span><\/a><\/p>\n

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The solana price has fallen even harder than bitcoin and ethereum over the last year, dragging down … [+]<\/span> by outages. <\/span><\/p>\n

Forbes Digital Assets<\/small><\/figcaption><\/figure>\n

Developers have also claimed Aptos, a proof-of-stake blockchain, will be able to process 160,000 transactions per second (TPS). Solana
\n SOL<\/a>
\n , for comparison, has an advertised TPS of 65,000 while ethereum has a mere 30 TPS. However, according to Aptos\u2019 blockchain explorer, the network was yesterday seeing just 4 TPS, it was reported<\/a> by Cointelegraph<\/em>, with some users saying they’re unable to send transactions.<\/p>\n

“The Aptos network has been performing as expected and will see increased activity as ecosystem projects onboard and get going,” the project’s official Twitter account posted<\/a> in a “day one update.”<\/p>\n

“Those 4 TPS are system transactions and don\u2019t include any user transactions yet,” Aptos Labs added. “We expect user transactions to begin starting tomorrow. Hold tight!”<\/p>\n

The project attracted a head-turning $1 billion valuation following a $200 million funding round in March led by Andreessen Horowitz (a16z), with major investors including Tiger Global, Katie Haun, Multicoin Capital, FTX Ventures, Coinbase Ventures, Binance Labs and PayPal Ventures. Then in July Aptos closed a $150 million Series A round led by FTX Ventures and Jump Crypto, with participation from Binance Labs, giving it a reported<\/a> valuation of $2 billion.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin BTC and cryptocurrencies are currently snowed in as a bitter crypto winter shows no sign of thawing any time soon (though some think they’ve spotted a $28 trillion opportunity). Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and successfully navigate the $2 trillion bitcoin and crypto market crash The bitcoin price is stuck under […]<\/p>\n","protected":false},"author":1,"featured_media":24934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[36],"tags":[1065,50,135,1000,62,52,158,65,640,11838,195,636,84,7722],"class_list":["post-32393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-billion","tag-bitcoin","tag-coming","tag-crash","tag-crypto","tag-cryptocurrency","tag-ethereum","tag-facebook","tag-huge","tag-killera","tag-price","tag-radical","tag-solana","tag-spinoff"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/08\/0x0.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32393"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32393\/revisions"}],"predecessor-version":[{"id":32394,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32393\/revisions\/32394"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/24934"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32393"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}