Jump Crypto is trying to revamp a core part of Solana’s infrastructure, seeking to boost the throughput and reliability of a network that’s been plagued by frequent outages and slowdowns.
The cryptocurrency arm of Chicago-based TradFi giant Jump Trading Group is building a new validator client, which is software that helps secure a blockchain. Additionally, Jump Crypto will “propose significant upgrades to Solana’s open-source core software,” according to a statement released Tuesday.
For Wall Street and other conventional finance firms like Jump, Solana turned into a key focus last year given that – unlike Ethereum and other blockchains used in decentralized finance (DeFi) – it was viewed as being able to keep pace of the incredibly fast pace of trading in older markets like stocks and derivatives. But the hype wasn’t always realized, with Solana breaking down in several high-profile incidents. Meanwhile, newer blockchains threaten Solana’s market share.
“Jump has unparalleled...
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