Jump Crypto to revamp core part of Solana’s infrastructure
Jump Crypto, the crypto arm of high-frequency trading firm Jump Trading Group, announced on Tuesday plans to develop a new open source validator client for the Solana network to boost throughput and reliability.
See related article: Solana validators complete restart; Laos ends crypto ban
Fast facts
Jump Crypto will “propose a major upgrade to Solana’s open source core software,” its press release said.
“Jump has unparalleled experience with over 20 years of scaling networks and building highly performant software systems. Their contributions to the Solana network will improve mission-critical systems, helping the network scale to billions of users,” said executive director of Solana Foundation Dan Albert.
Solana is one of the fastest blockchain networks, but it experienced a massive wallet exploit this month for unknown reasons, and it experienced a seven-hour network outage due to heavy traffic congestion in March.
Jump Crypto-empowered Solana cross-chain bridge Wormhole was exploited for US$320 million in February, and Jump Crypto said it made up for the loss out of its own pocket.
Jump Crypto also extended Wormhole to the Terra blockchain last October; however Terra’s UST stablecoin decoupled dramatically a few months later and prompted users to flee the network.
See related article: Aptos raises US$150 mln from FTX Ventures, Jump Crypto