A South African underwriter has joined forces with a UK-based cybersecurity specialist to introduce cryptocurrency insurance services locally. The UK company at the center of this initiative is <a href="https://www.digimune.com/">Digimune</a>, which has partnered with <a href="https://revolute.co.za/">Revolute Underwriting Agency</a> to launch a crypto insurance product aimed at safeguarding individual investors and cryptocurrency exchanges.



Known as <a href="https://www.digimune.com/product/cryptoshield/">CryptoShield</a>, this insurance offering provides comprehensive coverage for individuals against the loss of funds resulting from hacks or illicit activities specifically targeting approved cryptocurrency exchanges or wallets. Digimune has clarified that the policy extends its coverage to encompass the top 20 major cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin, Solana, and Polygon. Additionally, CryptoShield comes with a maximum coverage limit of $100,000. For cold or hard wallets, the maximum coverage limit can be set as high as $500,000, according to Digimune.



In a press release, Digimune stated, &#8220;Premiums are very affordable and include Digimune’s risk mitigation tools. As an entry-level solution, the insured will pay approximately $25 per month for $5,000 in coverage.&#8221;



Simon Campbell-Young, VP of Global Sales and co-founder of Digimune, emphasized the significance of CryptoShield, saying, &#8220;CryptoShield addresses the specific risks and needs of crypto-investors and fills a significant gap in the insurance market. We use proactive measures to lower the chances of individuals being defrauded and closely monitor the dark web for any activities related to our customers’ digital identities, ensuring their online security. In the event of losses suffered, our insurance policy offers coverage to safeguard our customers’ financial interests.&#8221;



Considering the volatility and complexity associated with cryptocurrency investments, the availability of insurance tailored specifically for digital currencies represents a sensible and much-needed development.

South Africa and UK Firms Collaborate to Provide Local Crypto Insurance

The Solana network had been halted because of a bug that interrupted the network’s operations. The outage, which Coinbase announced first on Twitter, affected the Solana mainnet. The &#8220;Ethereum killer&#8221; which is the current outage, appears to have been a series of recurring outages. An outage had last happened in early May of this year when the network remained down for around seven hours before being successfully restarted.



Solana gave an update explaining how the outage happened and what caused it minutes after it occurred.



<blockquote class="wp-block-quote">“Earlier today a bug in the durable nonce transactions feature led to nondeterminism when nodes generated different results for the same block, which prevented the network from advancing.”</blockquote>



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<blockquote class="twitter-tweet" data-width="550" data-dnt="true">Block production on Solana Mainnet Beta has halted. Validator operators should prepare for a restart in mb-validators on Discord. <a href="https://t.co/gRJJRqEMPn">https://t.co/gRJJRqEMPn</a>&mdash; Solana Status (@SolanaStatus) <a href="https://twitter.com/SolanaStatus/status/1532043450107015168?ref_src=twsrc%5Etfw">June 1, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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A developer from Solana also added on Twitter, “Chain splits occur when two parts of the network compute a different state given the same transactions for any reason. They are a class of bugs that are hard to prevent entirely, even with large test coverage, and affect any chain.”



He also stated that using many nodes to protect against chain-split vulnerabilities is a good idea. The developer further clarified that this restart is only a workaround for the situation, not a permanent repair.



At the moment, the system has been stabilized after 4 hours of the outage.



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<blockquote class="twitter-tweet" data-width="550" data-dnt="true">Mainnet Beta Validators: Please follow the restart instructions linked below, and upgrade 1.9.x to 1.9.28 – If you are on 1.10.x please upgrade to 1.10.23<a href="https://t.co/gBAOPrpnNe">https://t.co/gBAOPrpnNe</a>&mdash; Solana Status (@SolanaStatus) <a href="https://twitter.com/SolanaStatus/status/1532082272316293121?ref_src=twsrc%5Etfw">June 1, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Solana Suffers Outage, Network Halted Globally

<a href="https://solana.com/">Solana</a> ($SOL) was one of the hottest blockchains in 2021 due to its incredible speed and extremely cheap transaction cost. Since its token rose from $2 (7,000Ugx) in August 2020 to almost $240 (848,400Ugx) by the end of 2021, Solana outperformed other blockchain networks and is now ranked among the top five most valuable blockchains in terms of market valuation. But what exactly is Solana? Let us find out!



Solana is a third-generation blockchain platform built exclusively for decentralized applications (Dapps) like DeFi and NFT. Proof-of-History (PoH) consensus is used by the Solana blockchain, which is an open-source initiative.



Solana claimed a throughput of 50,000 TPS (Transactions Per Second) with an incredibly low transaction fee thanks to an ideal network of blockchain validators. This speed outperforms all other blockchain platforms, including Cardano, Ethereum, and Ethereum layer-2 solutions, among others.



History of Solana



Since releasing the Solana whitepaper in 2017, Anatoly Yakovenko has been the company&#8217;s creator, describing a new consensus called Proof-of-History (PoH). The Ethereum and Bitcoin challenges were overcome by consensus.



The Solana project was developed by Solana Labs in the United States and is led by the Solana Foundation in Geneva, Switzerland.



In March 2020, Solana introduced the Mainnet Beta, which lets users conduct simple transactions and use smart contracts on the Solana blockchain. The Solana team held a public auction to raise $1.7 million.



Developers can now use the Solana blockchain to test their ideas since the smart contract was launched. Hundreds of new projects are being launched on the Solana blockchain all the time, making it one of the crypto world&#8217;s fastest-growing blockchain ecosystems.



How does Solana blockchain work?



The node leader takes the transaction, gives it to a hash code, and sends it to the Solana blockchain once a user provides it to the blockchain. The transaction is validated by other nodes (validators), which then send it back to the leader. This entire operation takes 400 milliseconds and results in a block on the Solana blockchain.



Solana&#8217;s eight core blockchain technology are as follows:



<ul><li>Proof-of-History (PoH): A clock for blockchain. A sequence of computation that is responsible for cryptographically verifying the passage of time between two events.</li><li>Tower BFT: Solana’s Custom High-Performance Implementation of PBFT. This enhances the PoH to reduce communication time and network latency.</li><li>Turbine: A block propagation protocol. The message will be divided into smaller packages which are sent to network validators to process. This solves the problem of the distributed system that has to propagate all data to a large number of separate nodes.</li><li>Gulf Stream: Mempool-less transaction forwarding protocol. The next network-validating leaders will be selected based on their SOL stakes. Data of transactions can be processed in those leader nodes, reducing the validating time and improving the memory optimization for validators.</li><li>Sealevel: Parallel smart contract run-time. This supports parallel transaction execution in a single shard.</li><li>Pipelining: A Transaction Processing Unit (TPU) for validation optimization. This optimizes the CPU and GPU of the validators to make sure that the hardware components of validators are working properly.</li><li>Cloudbreak: Horizontally-Scaled Accounts Database. This optimizes the flow of data on storage disks.</li><li>Archivers: Distributed ledger store. This means data of Solana is stored on a network of nodes called Archivers not on validators’ nodes. Those Archivers don’t take part in the consensus process. The data is divided into pieces distributed to those Archiver nodes.</li></ul>

What is Solana (SOL)?

From running the basketball court to now running the digital currency world, Micheal Jordan aka “The GOAT” can do it all. With the help form Solana, he is channeling his greatness to NFTs



Jordan&#8217;s oldest son, Jeffrey, co-founded a holding company called &#8220;Heir Inc,&#8221; which will be in charge of the new endeavor. Heir Inc is a &#8220;consumer-facing community platform for athletes to communicate with fans,&#8221; according to the company&#8217;s website. It also intends to construct an entertainment studio and market consumer goods.



How is Solana involved with Heir Inc?



To get the initiative off the ground, Heir collected $10 million in preliminary finance. Thrive Capital, a New York-based venture capital firm, led the round, which included Chicago Bulls guard Lonzo Ball, Reddit co-founder Alexis Ohanian, Michael Jordan, and Solana Ventures, among others.



Solana Ventures is the Solana platform&#8217;s strategic investment arm. They just announced $150 million in funding to promote Web3 game developers and NFT initiatives who are working to develop for the Solana ecosystem.



George and Smith announced in a joint statement that Heir will use technology to establish the future of athlete branding. At the same time, it would help fans by allowing them to get closer to their favorite sportsmen.



“We envision HEIR becoming the platform that will help cultivate the future of athlete meta-brands. Dedicated supporters are at the heart of the platform. They will benefit from early adoption ownership and unmatched access to their favorite athletes.” They said, in a statement explaining how HEIR will work.



The Future…



Jeffrey Jordan explained how it might function by saying that athletes would sell a limited number of &#8220;seats&#8221; to supporters. Fans receive digital assets and NFT drops in exchange for their support. All of this is supported by the Heir token, which is based on the Solana blockchain.



Fans will also be able to purchase one-time digital assets or join their favorite athletes&#8217; &#8220;huddle&#8221; for exclusive drops, interactive experiences, and other perks as part of their seat membership.



“The Heir platform reimagines the creator-fan experience, to empower athletes to engage with their fans.” &#8211; Jeffrey Jordan



Fans could profit from buying limited tokens of a player early in their career and selling them once the player becomes more popular, similar to how teams profit from selling a player who has improved. This is especially true for college and pre-college players who are preparing for the draft.



Jeffrey Jordan has remained tight-lipped on which players have signed up for Heir. He did note, though, that Heir is targeting tier-1 NBA and WNBA players as well as NCAA up-and-comers.

NBA legend Michael Jordan teams up with Solana for the “Heir” community platform

Public blockchain network poses several advantages but one of them is that anyone may build on it—but such an open approach also implies that creators and initiatives may bring with them controversy or infamy.



Melania Trump, the former First Lady of the United States, debuted her first NFT collection on the network on Thursday, 16th December 2021, and Solana&#8217;s producers may be feeling the heat. Melania Trump announced her plans this morning, and shortly after, a representative from Solana Labs contacted the Decrypt blog to stress that the company is not responsible for the project&#8217;s arrival on its network.



“I wanted to inform you, to avoid any confusion, that her choice to use the Solana blockchain was completely organic, and this project is not part of any Solana-led initiative,” the representative told the blog in a statement.



Solana Labs represents the blockchain ecosystem&#8217;s core crew, including the platform&#8217;s original founders. In the meantime, the Solana Foundation was established in June 2020, with Solana Labs transferring all IP and a significant quantity of SOL coin to the foundation in order to promote its long-term development.



Melania&#8217;s NFT, a painting by artist Marc-Antoine Coulon titled &#8220;Melania&#8217;s Vision,&#8221; will be available for purchase on her website from December 16th to December 31st, 2021, for 1 SOL (about $185)



She intends to produce more NFT items in the future, as well as hold an auction on January 11, 2022, featuring both digital and physical artwork, as well as an undefined &#8220;physical one-of-a-kind accessory.&#8221; An NFT functions as a blockchain-backed receipt for a one-of-a-kind digital object, such as photographs, video files, or video game goods.



The former first lady&#8217;s NFT platform is &#8220;driven by Parler,&#8221; a social networking service popular among far-right conservatives and extremists, according to a statement released by her. Following the January 6th insurgency at the US Capitol, Parler was pulled from a number of app shops and marketplaces. Trump&#8217;s NFT platform uses MoonPay to process credit card payments.



The NFT project will help Melania Trump&#8217;s Be Best public awareness campaign, and she will give an undefined part of earnings from the NFT sale to &#8220;assist youngsters aging out of the foster care system,&#8221; according to her.

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