Latest news with #DouglasColkitt
Crypto Insight
5 days ago
- Business
- Crypto Insight
Firedancer will speed up Solana, but it won't reach full potential
Solana's next-generation validator client, Firedancer, may not reach full speed on the network it was built for as technical limits push developers to test it elsewhere. One of those developers is Douglas Colkitt, a former high-frequency trader who's testing a hybrid validator setup called Frankendancer on Fogo, a Solana-compatible chain built to remove the constraints that currently prevent Firedancer from reaching its full potential on Solana. Colkitt, a founding contributor at Fogo, said the new blockchain isn't trying to replace Solana but does discard some of Solana's core assumptions, such as globally distributed validator sets, to showcase how far Firedancer can go when speed takes priority over decentralization. The push to run Firedancer outside Solana highlights a deeper split in blockchain infrastructure: the tension between decentralization and speed. These two have long been trade-offs, but more builders are now choosing to prioritize speed. Why Firedancer can't go full speed on Solana yet Jump Trading developed Firedancer, a high-performance validator client aimed at boosting Solana's throughput and reducing latency. But according to Colkitt, Solana's architecture includes technical constraints that limit how fast Firedancer can operate in practice. 'If you have two clients running on the same network, you can only go as fast as the slowest client because otherwise the network risks halting,' he told Cointelegraph. 'It's like driving a Ferrari in city traffic — no matter how fast the car is, you're limited by the speed of the other vehicles around you.' Solana currently supports two main validator client implementations: Agave and Firedancer. Agave is running on about 90% of validators as of Friday. Meanwhile, Firedancer is still in a transitional phase as Frankendancer, a hybrid combining Agave and Firedancer. It accounts for about 10% of validators, up from 7% in April. Frankendancer's hybrid approach allows for a gradual adoption of Firedancer's improvements without risking network stability. Solana's network relies on a globally distributed set of validators. This geographic decentralization strengthens security by preventing any single party or region from gaining excessive control. It also enhances censorship resistance and resilience against localized outages or attacks. This also means that decentralization comes with performance trade-offs. Data and consensus messages must travel long distances, resulting in unavoidable network latency. Even with optimized software like Frankendancer and the fastest hardware, Solana's block time remains around 400 milliseconds. 'Trading firms absolutely need something faster than 400 milliseconds. If you have events like a [Federal Reserve] announcement or nonfarm payrolls, you want to be closer to that data to trade off of it,' Colkitt said. Solana is also working to reduce latency. On Thursday, the Solana Foundation unveiled a roadmap aiming to establish the 'Internet Capital Market' by 2027, targeting millisecond-level control over transaction ordering in smart contracts. Firedancer's real-world test outside Solana Colkitt traces his entry into crypto back to 'DeFi Summer.' He was working on an automated market maker project on Ethereum and its emerging rollups. 'The Ethereum chains weren't sufficient for what we wanted to do,' Colkitt said, explaining why he left the Ethereum ecosystem in search of alternatives better suited for high-frequency trading. 'We spent a lot more time playing politics — which L2 do we go to? How do we get L2 support? — that kind of distracted from building the core products.' This fragmentation held back innovation compared to the simplicity and unified liquidity of early Ethereum, Colkitt said, which was more apparent in Solana. However, Solana is still relatively young. It produced its first block in March 2020. Traditional financial institutions are slower in embracing newer blockchain platforms like Solana, Colkitt said, adding that banks still remain comfortable primarily within Ethereum-compatible ecosystems. On the demand side, Colkitt pointed to projects like Hyperliquid, which push the limits of current blockchain infrastructure. 'Hyperliquid owns 90% plus of the market in decentralized perpetuals trading,' he noted. 'But that kind of ultra-low latency, high-throughput trading experience just doesn't reliably work on Solana today because of block times and network stability.' Fogo, which launched its testnet on Tuesday, uses Solana-based technology to compete with chains like Hyperliquid. Built on the Solana Virtual Machine, it is compatible with projects currently running on Solana. Fogo currently runs on Frankendancer, with plans to transition fully to Firedancer when ready, unlocking the validator client's full potential. When asked about the timeline, Colkitt gave a 'very rough guess' of the end of this year. Fogo is targeting its mainnet launch in September. Firedancer's true potential outside Solana Next-generation low-latency networks like Fogo and Hyperliquid are pushing the boundaries to match the speed demands of modern trading. Projects like MegaETH also promise near-instant transactions, targeting emerging sectors such as decentralized physical infrastructure nextworks that require real-time execution. What unites these chains is a willingness to make trade-offs, dialing back decentralization to scale. Fogo intentionally reduces the geographic distribution of validators to gain this speed advantage. 'What we're doing with Fogo is spinning up validator nodes in a few key global locations — Tokyo, London and New York — to reduce latency between them,' he said. 'By co-locating validators closer together geographically, we can push Firedancer to achieve much faster block times than Solana's globally distributed validator set allows.' This trade-off sets the stage for an important experiment. Firedancer's true potential will likely never be fully unlocked on Solana itself, a network that remains constrained by its global validator set and commitment to decentralization. Instead, the testbed for what ultra-fast, high-performance blockchain infrastructure can truly achieve comes at the cost of decentralization. However, Solana is not standing still. Its recently unveiled 2027 roadmap aims to bring the blockchain closer to traditional finance standards. Source:
Associated Press
22-07-2025
- Business
- Associated Press
Fogo Launches Public Testnet: Fastest Layer 1 Blockchain Sets New Bar for Onchain Trading
Former TradFi executives from Jump, JP Morgan, Citadel, and Morgan Stanley launch the fastest Layer 1 blockchain to date CAYMAN ISLANDS, July 22, 2025 (Bitwire) -- Today, Fogo, an L1 blockchain enabling the greatest onchain trading experience with unprecedented speed, near-instant finality, and scalability, officially announced the launch of its public Testnet, introducing the fastest Layer 1 chain to date. Created for traders by a team of veteran traders from Citadel, JP Morgan, Morgan Stanley, and Jump, Fogo is the first Solana Virtual Machine (SVM) chain to feature native multi-local consensus and enshrined dApps built directly into the protocol, and will become the first live implementation of the Firedancer validator client in its purest form. 'With the launch of this Testnet, we're officially rewriting the standard for what DeFi has to offer,' said Douglas Colkitt, Initial Fogo Contributor and formerly at Citadel. 'We've rebuilt the trading stack from the ground up to build upon what Hyperliquid has made possible and bring it to the SVM ecosystem. With vertical integration, real-time latency, and fee-free execution, Fogo gives top traders and builders a new performance frontier that's fully onchain and fully prepared to deliver the next generation of performance-first blockchains.' Unlike most blockchain projects chasing speed with compromise, Fogo was engineered from the ground up to deliver institutional-grade execution without sacrificing decentralization or composability. This, combined with native infrastructure and vertical integration, positions Fogo as the first true performance-focused alternative to Hyperliquid. Key features and differentiators of Fogo include: 'Fogo represents a new wave of performance-maximized infrastructure,' said Kain Warwick, founder of Infinex and Fogo partner. 'For traders who care about execution, latency, and fairness, this is a major milestone and the evolution that DeFi desperately needs.' Fogo's public Testnet launch comes on the heels of a community-first funding round via Echo in January 2025, where the protocol raised $8M in just under two hours. Crypto investor Cobie called it 'a first' for Echo deals, praising Fogo's token distribution that favors the community over insiders. A private Testnet launched on March 31, 2025, following a Devnet rollout in January. The Fogo Testnet is an open invitation for developers, traders, and protocol builders to start experimenting with its vertically integrated architecture. The network is built to handle institutional-scale throughput with unmatched responsiveness, merging the speed and determinism of TradFi with the open, decentralized ethos of crypto. The Fogo Testnet is now live. Learn more about Fogo, access Testnet, and get signed up for future updates at About Fogo Fogo is the fastest L1 blockchain designed to deliver the greatest onchain trading experience. With its unique architecture and Firedancer implementation, the chain offers low latency, near-instant finality, and unparalleled scalability. As a purpose-built blockchain, Fogo incorporates a carefully constructed, vertically integrated tech stack. This includes a curated validator set, native price feeds, an enshrined DEX, and multi-local consensus validators to create a truly differentiated trading environment. Backed by a team of trading and engineering experts and driven by a vision to redefine what's possible, Fogo is setting the standard for high-performance blockchain infrastructure, perfectly balancing the decentralization vs performance tradeoff whilst maximizing performance and maintaining global censorship resistance. ### Media Contact: Melrose PR [email protected]
New York Post
28-06-2025
- Business
- New York Post
How to find the best altcoins for the best bull run
The New York Post may receive revenue from affiliate/advertising partnerships for sharing this content and/or if you click or make a purchase. As investors prepare for what many believe will be the next major crypto bull run, altcoins — cryptocurrencies that aren't Bitcoin — are once again in focus. Tools like Best Wallet are making it easier to track, research, and invest in promising projects with a feature-rich experience built for both newcomers and seasoned traders. The non-custodial app offers multi-chain support, no KYC onboarding, in-app token discovery, access to exclusive presales, staking integrations, and real-time portfolio management — all designed with a strong emphasis on user security and privacy. Best Wallet also includes curated market insights, a Web3 launchpad, and social tools that help users follow top-performing wallets and trending tokens. With everything from token swapping to asset tracking in one sleek interface, it's becoming a go-to platform for anyone looking to get an edge in the altcoin space. Still, picking winners remains as much art as science. We asked leading figures across the blockchain ecosystem how to spot the best altcoins, which tokens they're watching, and how newcomers can gain an edge. Find the Best Altcoins Best Wallet How to start crypto trading today Download the Best Wallet app on iOS or Android. on iOS or Android. Create your own wallet — no KYC needed. Tap 'Upcoming Tokens' to find altcoins and presales. Buy and trade instantly with a card or crypto. Track and manage your portfolio easily in-app. LEARN MORE Identifying promising altcoins starts with looking beyond hype and understanding real-world use. 'The best formula always will be finding the confluence of teams with a proven history of execution building in a vertical that has strong growth tailwinds,' Douglas Colkitt, contributor to Initial Fogo, a high-performance blockchain, told The Post. Ethereum is a decentralized blockchain platform that enables smart contracts and decentralized applications (dApps), serving as the foundation for much of the Web3 ecosystem. Alvaro – That emphasis on proven execution is echoed by others in the space — with a growing focus on real-world application and long-term utility. 'When it comes to investing in Altcoins, I'm always going to be thinking about real usability,' said Mike Cahill, CEO of Douro Labs and a core contributor to the Pyth Network. 'The ones that stand out have true use cases, growing user adoption, sustainable tokenomics, and are powering new financial infrastructure.' Mike Marshall, head of research at analytics firm Amberdata, echoed that view, telling The Post: 'Try to look beyond hype to spot altcoins with a clear utility, credible teams and a healthy balance of community support and institutional interest — real substance beats speculation every time.' Musa Hakim Jr., CEO and co-founder of added that network infrastructure matters more than noise. 'For everyone else, the best way to identify valuable altcoins is developer community and organization or network infrastructure strength,' Hakim told The Post. 'Those two things drive utility which define value. Buy coins that you want to buy, not your friends.' Not every expert is ready to offer a list of 10 altcoins, but many shared their highest-conviction picks. Hakim added that his top picks were Solana, Ethereum, XRP, Dogecoin and USD Coin — with the last two interchangeable depending on market sentiment. Rounding out Hakim's list are Cardano, Tether, Binance Coin, Bitcoin Cash and Uniswap. 'These 10 all have strong organizational credibility and heavy developer support,' said Hakim. Solana is a high-performance blockchain designed for fast, low-cost transactions and scalable decentralized applications, often used in DeFi, NFTs and gaming. – Marshall, who prioritizes foundational blockchain infrastructure, highlighted ten altcoins he believes are well-positioned both technically and commercially. His picks include Ethereum, noted for its 'ecosystem dominance'; Solana, praised for its 'speed and adoption'; Arbitrum, a leader in 'Layer 2 scaling'; Optimism, which experiencing 'fast ecosystem growth'; Chainlink, known for its 'oracle infrastructure'; Uniswap, a 'DeFi cornerstone'; Aave, trusted for 'lending'; MakerDAO, advancing 'real-world asset adoption'; Ondo Finance, a 'RWA yield pioneer'; and gaining traction for its 'AI integration momentum.' Cahill favored projects with clear usage and ecosystem momentum. The list he provided to The Post includes: 'Hype, Pyth, Kamino, Drift, Raydium, Jito, Pendle, Helium, Jupiter, and Pumpfun (when it launches).' Colkitt preferred to keep his list lean. He told The Post that he prefers Hype 'just because it's a runaway category winner and expanding into a full fledged ecosystem.' Colkitt said his second choice was Berachain, especially at its current price. His third-best option is Jito, which is 'basically essential to Solana continuing to function and not much of the market has realized it yet.' What makes an altcoin worth buying now? Many experts say real usage is more important than speculative buzz. 'Altcoins with proven usage are the best value in my mind,' Cahill noted. Hakim recommended watching changes in who is leading major projects and which cryptocurrencies are gaining attention. He told The Post that some of his top picks for the next rally include XRP and Solana — noting that some investors now see Solana as a smarter bet than Ethereum, especially since former Blockchain Association head Kristin Smith recently took over at the Solana Foundation. USD Coin (USDC) is a stablecoin — a type of cryptocurrency that is pegged 1:1 to the U.S. dollar — and is backed by fully reserved assets, making it a popular choice for sending, storing or trading digital dollars on the blockchain. Rafael Henrique – He also pointed to Dogecoin as a meme-driven coin worth watching, saying, 'There's something there, very good or very bad.' Colkitt emphasized risk management. He told The Post that since Bitcoin 'won't 10X overnight,' the best course of action would be to adopt 'a barbell strategy' of Bitcoin and altcoins 'further out on the risk curve.' For serious investors, research is key. 'It's still hard to beat DefiLlama and Dune dashboards for data driven exploration,' said Colkitt. 'And of course, stay active on Crypto Twitter. Coins will get talked about there before they blow up.' 'You can find new altcoins by following new projects and tracking their testnet launches,' added Cahill. 'Most of these launches can be found on crypto-native news sites like The Block, Coindesk, and Cointelegraph.' Hakim said that it would be best to compare top tens on exchanges as well as 'observing the community on the social platforms you frequent. 'Don't buy a coin who's founder you can't quote,' Hakim advised. Spotting the next big thing requires watching early traction and developer momentum. 'Finding promising altcoins early requires staying at the forefront of reliable data and analytics,' said Marshall. Uniswap is a decentralized exchange (DEX) built on the Ethereum blockchain that allows users to trade cryptocurrencies directly with one another using automated liquidity pools instead of traditional order books. vladim_ka – 'I personally use Amberdata to track on-chain metrics, liquidity trends, and unusual transaction activity.' Cahill stressed the value of developer signals and ecosystem growth. 'It's important to watch for early community traction and smart developer activity over time to try and gauge the success of the project,' Cahill told The Post. Hakim said Layer 2s (L2s), which help blockchains grow by handling more transactions quickly and cheaply, and regulatory clarity are key indicators. 'Follow the money,' said Hakim. He cited Polygon, a blockchain scaling solution designed to make transactions on Ethereum faster and cheaper, as an L2 that people should keep an eye on. 'The American coins are probably the best to start digging,' he added. 'Recent SEC guidance makes all of these projects that are compliant hot commodities globally.' Bitcoin and Ethereum still dominate market cap — but that doesn't mean altcoins can't outperform. 'Bitcoin is still a great benchmark, especially for new investors,' said Cahill. 'But I believe that the next wave of meaningful growth will come from altcoins that power financial infrastructure and help drive institutional capital.' 'BTC and ETH still anchor the market and deserve core holdings,' added Marshall, 'but select altcoins offer compelling upside, especially in sectors like tokenized real-world assets, AI, and L2 scaling.' Dogecoin, a cryptocurrency originally created as a joke based on an internet meme, has gained widespread popularity for its low fees, fast transactions and active online community. charnsitr – 'Altcoins have much higher upside,' said Colkitt. 'BTC won't 10X overnight.' As momentum builds toward the next bull market, experts agree that finding the right altcoins involves a blend of research, real-world usage and community strength. With platforms like Best Wallet making access easier, and data tools from DefiLlama to Amberdata offering deeper insights, investors now have more tools than ever to make informed decisions — and avoid chasing hype. New York Post Approved 60+ Chains. Total Control. Best Wallet The Best Wallet app puts security first with biometric logins, two-factor authentication, and full non-custodial control — so you hold your keys, not just your coins. With support for thousands of altcoins across 60+ blockchains, it pairs top-tier security with powerful, user-friendly tools — making it the safest, most innovative way to HODL, swap, and manage your crypto. Learn More 108M+ Users Worldwide Coinbase Coinbase is building a more inclusive financial future for over a billion people, enabling them to trade, stake, spend, and transfer crypto on a secure and trusted platform. It powers the on-chain economy with essential infrastructure, global access, and a commitment to fair, responsible innovation. Learn More 114.9% BTC Reserve Ratio Kraken Kraken takes crypto security seriously, with FIDO2-compliant Passkey logins, encrypted communications, and customizable API permissions that keep your account firmly in your control. With no phone-based recovery, time-locked global settings, and real-time threat monitoring, it's built to protect your assets at every layer. Learn More $232B Platform Assets Robinhood Robinhood Crypto offers a user-friendly platform for trading and transferring digital assets, including the ability to securely and easily send and receive crypto to and from external wallets. With its self-custody Robinhood Wallet, it manages crypto holdings across multiple blockchains, including Ethereum, Bitcoin, and Solana. Learn More 20% of Global Crypto Secured Ledger Ledger is a leading provider of secure hardware wallets, offering devices like the Ledger Nano X and Ledger Stax that protect private keys offline using industry-leading Secure Element chips and a proprietary operating system. Paired with the Ledger Live app, manage over 5,500 digital assets, including cryptocurrencies and NFTs. Learn More 100M+ Users & Growing lets you buy, sell and trade over 400 cryptocurrencies, including Bitcoin and Ethereum, with zero-fee USD deposits, wire, and Apple/Google Pay. With a user base exceeding 140 million, the platform gives advanced trading options, a self-custodial wallet through Onchain, and industry-leading security certifications. Learn More $53T+ in Transactions Uphold Uphold is a multi-asset trading platform that enables users to buy, sell, and swap over 360 cryptocurrencies, 27 fiat currencies, and four precious metals, all in a single step. With features like assisted self-custody via the Uphold Vault, staking rewards up to 16.8%, and real-time reserve transparency, it offers a secure and versatile experience for both beginners and seasoned investors. Learn More The New York Post may receive revenue from affiliate/advertising partnerships for sharing this content and/or if you click or make a purchase.
