Over the past few months, Solana has gained significant attention and become a popular subject for debate. With the arrival of numerous meme coins on its network, some believe that Solana could potentially surpass Ethereum as a preferred choice.
The explanations are straightforward – Solana outperforms in terms of speed and affordability. Transactions on Ethereum can reach as high as $100 during periods of heavy network usage, while the equivalent swap on Solana typically costs only a fraction of a cent.
But it doesn’t come without its issues.
Solana’s Network Outages and Congestion
Supporters of Solana tout its advantages such as faster transaction speeds, higher capacity, and lower fees. However, critics argue that it is more centralized and less secure compared to Ethereum.
Solana experienced some downtimes in the past. For instance, in early February, the system faced an outage that lasted for hours, but the engineering team eventually managed to restore it.
Over the last several months, some have expressed frustration over the difficulty of completing transactions due to the network’s heavy congestion at times.
Now, developers have pushed a Mainnet update that’s designed specifically to resolve these issues.
Solana Mainnet Update Goes Live to Resolve Network Congestion
Mainnet update v1.17.31 went live earlier to specifically combat network congestion.
Among the changelog are points like:
- Show staked vs. nonstaked packets sent down/throttled
- Quic: use smallvec to aggregate chunks, save 1 alloc per packet
- BankingStage Forwarding Filter
- Treat super low staked as unstaked in streamer QOS
- Tighten the minimal streams per 100ms for staked node
Anzza, who is a developer on the Solana platform, proposes that validators should install the newest update only when the amount of unpaid stakes is below 5%.
Solana Price Bounces off Recent Lows
Over the weekend, the wider cryptocurrency market experienced a crash, causing Solana’s price to dip below $130 as early as April 14th.
The price has recovered and now hovers around $154, representing a 7.5% increase over the previous 24-hour period.
The wider cryptocurrency market is rebounding, with Bitcoin reaching over $66,000 and Ethereum exceeding $3,200. It’s intriguing to observe whether this trend will continue or if it’s just a temporary recovery before another downturn.
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2024-04-15 13:56