Daily Crypto NewsEDITION #453, 02 May 2022

Ape + Chain = APECHAIN

Hey Moni Maker 🦍

Today is Teacher's Day in Iran. We are, of course, our own teachers - we'll find information, read it, and piss on each other in chats because of misunderstandings... in short, a century of living, a century of learning - a century of crypto. 

Let's go! 

The interesting Twitter thread we found here. Yuga Labs, aka the creators of Bored Apes Yacht Club and Otherside, was lamenting a little. They had mint, but Ethereum failed again and f@cked up. So we have to launch our own chain. Quote: 

We're sorry for turning off the lights on Ethereum for a while. It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale. We'd like to encourage the DAO to start thinking in this direction.

On Saturday, the Solana network lay down for seven hours due to the fault of NFT's mint toolkit. Candy Machine, which is the name of the problem, generated 4.000.000 transaction requests and 100 gigabits of data per second, and somehow it knocked out the validators.

Validators though quickly self-organized in Discord and started thinking about implementing code that would block transactions from Candy Machine and I whether such a thing is even acceptable, however it was Saturday night  and 2/3 consensus of course would not be gained.

Eventuall, the Ether Killer rate went down, but then went back up again, as well as the network functionality, and Solana developers will have to work hard to figure out how it could have happened.

Well, there's been a lot of hype around Coinbase's launch of its own NFT trading platform, and here the guys presented us with a beta version on April 20. Let's see what the results are.

In that time, users traded 100 ETH or about $300,000. In comparison, Opensea on Thursday had a trading volume of $94,000,000. On the other hand, they say that only about 600 well-to-do mates are trading, with approximately 4,000,000 users waiting in line.

And you...buy Bitcoin! (it's a good time!)