Welcome to the protocol, the weekly conclusion of Coindesk of the most important stories in the development of cryptocurrency technology. I am Margaux Nijkerk, Tech & Protocols de Coindesk reporter.
In this number:
- The Solana Seeker phone fixes saga defects with the update of usability
- Base says that the sequencer failure caused a 33 -minute block production arrest
- Jito de Solana proposes to enrut 100% of the block engine to Dao Treasury
- Cardano Community approves a main development budget of $ 70 million, which increases the perspectives of ADA
Network news
Solana Seeker Phone begins to send: The Solana Seeker phone is not its average smartphone, nor does it want to be. On the basis of the lessons of its predecessor, the saga, the newest device of Solana Mobile reinvents what can be a native cryptographic phone. Smaller, lighter and with a battery more durable than its predecessor, the SEEKER aims to improve the user experience while duplicating in mobile cryptographic usability first. Outside the box, it is clear to whom this device is: active solar users who regularly perform transactions in the chain in the chain, with the design focusing on all Crypto-Firs. With 150,000 pre-ordered phones from more than 50 countries and a price of $ 500, the search engine wants to bring the participants of the Solana ecosystem the ability to perform transactions on the march in seconds. If you are someone who uses solana, the search engine could feel that it was built specifically for you. However, this phone is not intended for the informal encryption user. “If you are someone who performs transactions at least once a week, frankly, then you are not possible to be full of Power user, but at least you are a fairly regular user who seeks meaning,” said Emmett Hollyer, general manager of Solana Mobile, Codendesk in an interview. Read the complete review of the Coendesk phone here. – Margaux Nijkerk Read more.
Mortem base production post at the base of the base : Block production in the Coinbase Base Network (COIN) stopped for 33 minutes early after a sequencing error that did not recover as expected, developers said in a post mortem report. The interruption began at 06:07 UTC on August 5, when the active sequencer was left behind due to the congestion of the activity in the chain. Although the base driver module, a central component of the OP stack designed to maintain activity time, correctly tried to change the leadership to a reserve sequencer, the new instance had not been completely supplied and could not produce blocks. As it could not change automatically, the production stagnated until the engineers manually solved the problem. The network was completely recovered at 06:40, according to the report. To avoid reorganization risks, that is, when a blockchain temporarily rewrites the history by replacing the blocks confirmed by the alternatives, the team stopped the driver and coordinated a controlled leadership transition. This process contributed to the duration of the interruption. The interruption highlighted a key operational risk in the accumulation networks of layer 2 that are based on centralized sequencers to order and send transactions. These systems continue to depend on rapid commutation mechanisms by error and complete supply, and a single point gap in this chain can lead to complete network stalls. – Shaurya Malwa Read more.
New Jito proposal to redirect the motor rates of the block: Jito Labs presented a new governance proposal, called JIP-24, aimed at further decentralizing the network by curling all its rates of the block assembly market (BAM) directly to Treasury Jito Dao. If approved, the DAO would assume control over the protocol income flows, addressing them to the tokens JTO owners of the network. This, in turn, would reduce Jito Labs’s influence on the network of the same name, with a Dao subgroup assuming a greater role in development. Jito Labs expects change to finally increase the value of Jito’s Token. Currently, Jito block engine rewards are divided evenly, 3% to Jito Labs and 3% for the DAO. JIP-24 would eliminate the division, sending 6% complete of the rates, along with all future income related to BAM, to the Treasury DAO permanently. “This proposal reflects the commitment of the Jito ecosystem to ensure that protocol rates are directly accumulated to tokens holders in the most optimal way possible and consolidate the DAO as fundamental for the technical and economic governance of the Jito Network,” wrote the Jito Labs team in his proposal. – Margaux Nijkerk Read more.
Cardano Core developers get a budget of $ 70 million : Cardano Central Development Team, Global Departure Entry (IAG), obtained the approval of a treasure allocation of $ 71 million to finance 12 months of network updates after a prolonged government vote that attracted concerns about transparency, responsibility and cost. The proposal was approved with 74% in favor and authorizes the disbursement of 96 million ADA, or approximately 13% of the protocol treasure, to IAG. Payments will be based on milestones and supervised by Intersect, a governance body driven by members. Intelligent contracts and an independent committee will add additional supervision, said IAG. Key deliverables include Hydra, a layer 2 scale product for faster and more cheap transactions, and Project acropolis, which aims to rear me up the cardan node for greater modularity and ease of incorporation of the developer. The equipment also plans to reduce the use of memory and improve operating costs for validators. These implementations can eventually lead to a greater activity of the developer and new cases of use in the Cardano Network, contributing to Ada’s demand, the network gas token. – Shaurya Malwa Read more.
In other news
- Large banks are making it more difficult and more expensive for consumers to use Fintech and cryptography applications, which is equivalent to what could be seen as “Operation Chokepoint 3.0”. That is according to Alex Rampell, general partner of the Risk Capital firm Andreessen Horowitz (A16Z). In the last Fintech newsletter of the firm, Rampell told traditional financial institutions to charge high rates to access the account data or move money, particularly services such as Coinbase or Robinhood, such as a movement to strangle the competition. “According to the Biden Administration, Operation Chokepoint 2.0 tried to get rid of and deposit Crypto,” Rampell said. “That time is over, but now the banks aim to implement their own Chokepoint 3.0, charging incredibly high rates to access data or move money to cryptographic and Fintech applications, and, rather, blocking cryptographic and Fintech applications they don’t like.” – Francisco Rodrigues Read more.
- When Celestia transmitted her Aunt Token to 580,000 users in 2023, it was the Plat Du Jour between merchants and investors, and the project said that the statement was aligned with a new “modular era.” However, despite meeting a discharge price of $ 20 in September 2024, since then it has collapsed to less than $ 1.65 in a difficult desperate situation stimulated by a series of mass cliffs in the token acquisition schedule. Tokenomist data show that central taxpayers and the first sponsors, in particular a series of risk capitalists, could sell tokens bought relatively economic in the first rounds for fundraising in the open market. This coincided with the precipitate of Aunt towards the inconvenience, although it is worth noting that the market capitalization of the Token, currently by $ 1.2 billion, actually increased by 50% despite the fact that the Token lost 90% of its value due to the scale to increase the offer. – Oliver Knight Read more.
Regulatory and political
- The White House is preparing an executive order that would penalize banks for cutting customers about their beliefs. The order is expected, informed by the Wall Street Journal, to be signed by President Donald Trump as soon as this week. It would lead bank regulators to investigate whether financial companies violated the Law on Equal Credit Opportunities or other Consumer Protection Laws when closing accounts. While the order could still be altered, it would bring more stability to the cryptographic sector. During the Biden administration, a coordinated effort of the federal government was launched to the de-Bancar cryptographic companies, an effort known as Operation Chokepoint 2.0. The draft of order does not name specific banks, but, according to reports, it refers to an incident that involves Bank of America and a non -profit organization in Uganda. The bank said it closed the accounts because it does not serve small businesses that operate abroad. Francisco Rodrigues Read more.
- A group of French legislators is preparing a draft law that would allow the use of excess electricity for nuclear centrals to the Bitcoin mines, according to recent public statements. The proposal would install mining hardware in facilities owned by State Utility, Electricité de France (EDF), according to Le Monde. The process would take advantage of the surplus energy generated by these nuclear plants. France is the largest nuclear energy producer in the European Union, according to data from Eurostat. It represented 338,202 hours of gigawatts, or more than half of the total exit of the 27 nations block. The heat produced by nuclear fission is used to produce electricity, but more than two thirds of it is lost, the statistics agency said. – Francesco Rodrigues Read more.
Calendar
- September 22-28: Korea Bloquchain Week, Seoul
- October 1: Token2049, Singapore
- October 13-15: Digital Asset Summit, London
- October 16-17: Blockchain European Convention, Barcelona
- November 17-22: Devconnect, Buenos Aires
- December 11-13: Solana Breakpoint, Abu Dhabi
- February 10-12, 2026: Consensus, Hong Kong
- May 5, 2026: Consensus, Miami
