In an exciting development, Solana’s devshop Anza initiated a new update, version 1.18.11, for the devnet after encountering network congestion caused a significant issue for Solana. The initial attempt to upgrade devnet failed, so Anza tried again today to alleviate the ongoing network issues. According to a post by Solana core developer ‘starry,’ the second attempt was successful. This news generated considerable interest in Solana as investors continue to have faith in its future projects despite recent criticism within the crypto community due to network congestion concerns.
At the same time that version 1.18.11 was successfully launched on the development network, Solana’s native token, SOL, experienced volatile price fluctuations.
Devshop Anza’s v1.18.11 Update: A Closer Look
Significantly, Anza, a development workshop specializing in Solana, previously implemented version 1.18.11 of the upgrade on devnet with the objective of addressing traffic jams on the Solana blockchain. After this update’s deployment, validators on the testnet upgraded accordingly to examine the influence of the proposed congestion solutions.
Yesterday, the core developer brought up that the upgrade encountered problems unique to devnet, leading it to crash. Yet, they managed to restart it today, as previously noted, representing an important advancement for the Solana community.
At the same time, it’s important to mention that Solana has made another major improvement on its mainnet beta to address persistent network congestion problems. On April 15, Solana announced that it would not be releasing v1.17.31 for the update of its mainnet, generating excitement about the company’s commitment to resolving complex cryptographic issues. However, the price of Solana’s native token SOL seems to be declining recently.
Solana (SOL) Price Tumbles
Currently, the price of Solana’s token has decreased by 1.88% in the last 24 hours and is now priced at $142.61. The token’s market graph shows a very unstable pattern, bouncing between positive and negative territories during this time frame. This price instability is mainly due to the ongoing efforts to improve the Solana blockchain network and reduce congestion.
In the meantime, the price trend of SOL suggests a significant drop caused by the crypto community’s decreased trust in the network’s performance. However, with the successful restart of the v1.18.11 update on devnet and the release of v1.17.31 for the Solana mainnet update, there is optimism among cryptocurrency fans that SOL’s price will rebound soon.
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2024-04-20 12:45