“When Smart Contracts Aren’t So Smart: Solana’s Yakovenko Puts Foot Down 🦶”
Oh, what a pickle! Solana (SOL) devs are sweating over the possibility of tweaking those “immutable” programs, aka smart contracts. But fear not, folks, because the blockchain’s cofounder, Anatoly Yakovenko, has assured us that no naughty updates will sneak through, even with new rules. Phew! 🙌
Solana (SOL) Upgrade Drama: Yakovenko Clears the Air
Enter stage left, the mysterious crypto engineer @blockiosaurus, a core developer of Solana’s Metaplex toolkit. He’s got some concerns about a recent proposal by Ansa and Solana Labs. According to his thread, if we make “immutable” token programs changeable, Solana (SOL) could be in a bit of a pickle. 🥒
Recently, @anza_xyz and @solana proposed a network hard fork to update an immutable program on Solana—specifically, the Token Program.
They present it as an optimization but this proposal has raised questions about the significance of marking programs as immutable.…
— 🪷Blockiosaurus🪷🦾 (@blockiosaurus) January 27, 2025
If the proposal goes through, critical programs like token mint standards might get a makeover. This throws a wrench in the “immutability” concept in Solana’s (SOL) tech design. But wait, there’s more!
Yakovenko rides in on his white horse (or maybe it’s a unicorn 🦄) and explains that this change won’t rock the boat. If a single node doesn’t like the potentially malicious hardfork, it can restart the legit chain. It’s all about using your noodle, folks.
Let’s say there was a feature flag to steal all of the usdc. Circles node would refuse to take the upgrade and activate that flag. That single node can provide a replica to restart the whole chain without the flag. It’s up to social consensus ultimately to follow the “right” one (…) Any validator feature flags depend on 1/N honest participants to detect that the upgrade is malicious. That’s the difference. Use your brain.
But hold on, Yakovenko admits that this change might be a bit too spicy for some, considering its potential impact—a mere 20% performance boost. Yawn! 🐱
To avoid any drama, he suggests running two independent formal verifications or keeping both programs (old and new) side by side for six months. That should give everyone a good chuckle. 😂
Solana (SOL) TVL Aims for the Stars at Over $12 Billion
Now, let’s talk about something exciting! Solana (SOL) is the cool kid on the block when it comes to smart contract platforms. Its core crypto, SOL, is sitting pretty as the fifth-largest crypto, boasting a $115 billion market cap. Impressive, right?
And guess what? It’s also the biggest altcoin that’s setting new all-time highs in this bull market. In January 2025, its total value locked across all DeFi apps (TVL) hit a record-breaking $12 billion. Cha-ching! 💰
Raydium (RAY) and Jupiter (JUP) DeFis, the two leading liquidity machines on Solana (SOL), are responsible for over half of this massive SOL liquidity amount. They’re the real MVPs here. 🏆
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2025-01-28 16:49