Solana has rolled out an essential improvement to deal with the current traffic jam on its network. The initial upgrade, labeled as version 1.17.31, marks the beginning of a sequence of anticipated updates.
Recently, Solana has experienced significant congestion problems due to the relentless trend of meme coins leading to increased user activity and heightened network usage.
Solana Releases Crucial Update
Solana recently unveiled a new software update via its official X account, advising mainnet validators to install it for regular usage. Validators are essential network participants who manage nodes or software, validate transactions, and ensure network security. To maintain optimal network performance, validators must frequently upgrade their nodes to accommodate the latest releases and address potential issues. The update, as reported by Solana developers, incorporates several improvements aimed at mitigating congestion on the Solana network.
Validators on the MainnetBeta network now suggest using the v1.17.31 release in regular operations due to its new features aimed at easing the persistent traffic congestion on the Solana Network.
Based on information from Rex St John, who leads developer relations at Anza, update 1.17.31 marks the beginning of a sequence of intended releases aimed at easing Solana’s traffic issues.
“This announcement brings the initial round of congestion improvements on Solana’s mainnet from @anza_xyz that many have anticipated. More updates are on the way. Please keep in mind that this is not yet version 1.18, which will include additional enhancements.”
With the recent update, there’s a distinction between packets that have been staked versus those that are not when it comes to how they’re transmitted or restricted in terms of speed.
Solana’s Congestion Issues
In recent months, Solana has experienced congestion problems due to a meme coin craze causing an increase in user activity. This surge resulted in unprecedented transaction volumes, reaching up to $4 billion in March – a significant jump from the typical daily volume of around $500 million in 2023. The excessive bot usage, as reported by Solana developer 0xMert, was responsible for numerous failed transactions on the network.
Based on 0xMert’s explanation, in the revised edition, transactions by legitimate or substantial stakeholders take precedence. This preference grants superior treatment to validators possessing larger stakes and impedes insignificant validators from overwhelming the network with excessive transactions. Solana users anticipate a smoother operation post-upgrade.
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2024-04-16 12:12