Coinbase Cloud Adds Support for Solana Archival Nodes – crypto.news

Coinbase Cloud, a blockchain infrastructure protocol, has announced the launch of Solana archival nodes, a tool to facilitate the building of products and services on the Solana (SOL) network.

Building Array of Solana Infrastructures

With the launch of the Solana Archival Nodes, Solana builders will be able to examine historical address balances, run complex queries, and simulate the blockchain state at any given point in the chain’s history. Coinbase Cloud recently launched secure, dedicated Solana infrastructure nodes via Query & Transact, allowing builders to access and verify data and transaction information from the Solana blockchain. Coinbase Cloud is now significantly increasing that offering with the launch of Solana Archival Nodes.

The Solana blockchain infrastructure is expanding at an impressive rate as this partnership comes after a similar move by QuickNode and Jump Crypto’s validator client last month.

While it is difficult to manage the archival nodes in a scalable manner, (Solana’s high throughput design (~2–3 blocks/sec) and large data footprint of ~100TB for all historical data) Coinbase Cloud is stoked about the launch as it brings the benefit of allowing the developers to access and verify data along with the transaction information from the Solana blockchain.

Coinbase Cloud is one of the largest infrastructure platforms to offer cloud services, the platform’s multi-cloud, multi-region infrastructure is architected to minimize downtime risk, and let users access data without “skipping a beat.” Coinbase Cloud’s infrastructure is “built to meet or exceed the security needs of highly regulated institutions.”

The Query & Transact read/write nodes are built on multi-region cloud infrastructure, with a 99.9% uptime guarantee and developers can manage their node infrastructure seamlessly from a single dashboard.

Solana blockchain is highly efficient and stable and is one of the fastest blockchains in the world. Solana is open source, high-performance, and permissionless. Solana is currently able to process more than 50,000 transactions per second.

Like other innovative crypto protocols, Solana has had its fair share of challenges, the biggest one being hacks and security breaches. The Solana blockchain has suffered more than 12 attacks in 2022. The downturns were the principal element that triggered the sharp decline of its naive token SOL by more than 78 percent. More recently, On June 1, 2022, an instant, the outage shut down the network for four hours and ten minutes resulting in a peak potential of 975 million transactions to be declined.

 Coinbase itself is not immune to bugs and breaches, earlier today, it was reported that Coinbase users in Georgia were able to exploit an erroneous foreign exchange rate on crypto pairs denominated in the Georgian Lari (GEL). It was caused by a snafu at a third-party provider that led to an outsized exchange rate.

At the time of writing, the price of SOL, the native cryptocurrency of the Solana ecosystem is trading at around $32.01, with a market cap of $11.24 billion, making it the 9th-largest crypto on the market.