Monday, September 26, 2022

Jump Crypto announced their intention to create a new validator client for the Solana network. It will be written in C++.

The project team currently consists of Kevin Bowers, a former researcher at University of California, Berkeley

Jump Cryptocurrency is a company that has been assembled by people who have been involved in Solana, a company that was scandalizing by an $8 million hack. Jump Crypto has more than 100 employees, including the people involved in Wormhole.

What the project hopes to achieve

A new validator is being developed in C++ and will be used on the bitcoin network

To become a validator, SOL tokens must be blocked or “placed for stacking. But transaction validation only pays a small amount in rewards. On the other hand, bigger holders can join Coinbase Cloud or Jump Crypto to get higher rewards and compensation.

Solana uses Proof-of-History, a cryptographic way of tracking time by creating timestamps in the blockchain. Unlike Ethereum, Solana’s timestamp is decentralized and therefore better suited to a distributed system. On Solana’s blockchain, information is available about exactly when a transaction took place.

Some critics of the project believe that the network gives up decentralization for speed. Jump has a large investment into Solana which is not in line with its ideals as a decentralized platform.

Jump CEO Kanav Kariya announced that a number of their technical and marketing people will take part in the initial testnet, which should not be seen as contradicting Solana’s role. This new validator will coexist with an already functioning version of the blockchain, but it will be tailored to the needs of Drago.Solana is focused on First-2-Market more than anything. This project aims to accelerate their adoption, not just in the crypto space, but also make sure their implementation benefits further technical improvements and network decentralization.

The project will leverage Jump’s experience

Jump Crypto, with its parent company Jump Trading, has experience in crypto-market-making.

Jump Crypto, a decentralized cryptocurrency trading platform, invested in the failed TerraUSD token project. They are trying to get into the new market for algorithmic stackablecoins by backing some of these currencies.

For two years, talent recruitment staff worked around the clock to recruit talented people for the Jump cryptocurrency project.The company wanted to use blockchain to build a meta-universe. At their bootcamp in Chicago, the trainees decided to create a project on SOL.

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