An update addressing network congestion problems was released on Solana’s mainnet beta. Previous network issues led to transaction delays or failures for approximately 75%, affecting prices and sentiment within the Solana ecosystem.
Solana Releases Mainnet Update for Congestion Issues
On their blog post dated April 15, Solana Status announced the availability of version 1.17.31 for the Solana network’s mainnet upgrade. It is mandatory for validators in the Mainnet Beta phase to implement this update to help alleviate ongoing congestion problems within the Solana network.
This version of the release is steady and ideal for deployment on Solana’s Mainnet Beta. It brings along improvements aimed at easing the current network traffic congestion on Solana.
Anza, a Solana-focused devshop, recently released version 1.18.11 on their devnet to tackle recurring congestion issues in the Solana network. They attributed these problems primarily to a QUIC implementation glitch and unusual behavior from the Agave validator client.)
The price of SOL climbed approximately 15% from its 24-hour low of $133.79 to a peak of $155.04, boosted by recent developments. Following last week’s crypto market downturn, Solana has managed to regain nearly 35% of its value, rising from $116.
Moreover, the total open interest for Solana futures has significantly increased by over 6% within the past 4 hours and an additional 3% in just one hour. This substantial growth suggests active buying from derivatives traders.
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2024-04-15 10:01