According to a report by the Solana Foundation, Solana (SOL), a Layer-1 blockchain network, has shown significant improvement in terms of reliability and uptime since the beginning of the year. The network, which experienced only one interruption in the first half of the year, ha...
According to a report by the Solana Foundation, Solana (SOL), a Layer-1 blockchain network, has shown significant improvement in terms of reliability and uptime since the beginning of the year. The network, which experienced only one interruption in the first half of the year, has made notable progress compared to previous years when it faced multiple issues.
The report published by the Solana Foundation emphasizes that Solana has achieved 100% uptime since February 25th and has experienced an uninterrupted quarter. Anatoly Yakovenko, the co-founder of the network, attributed the previous reliability issues to the high transaction volume and low-cost transactions on the platform.
The ratio of voting transactions to non-voting transactions also improved during this period. Voting transactions occur when validators confirm information blocks, while non-voting transactions arise from user activities on the blockchain network. Additionally, block times, which measure the speed of adding new blocks to the chain, have become more consistent, except for a sudden increase in February during the interruption.
The performance and efficiency of the network, measured in transactions per second (TPS), have significantly increased for Solana since January, thanks to network updates performed on a daily basis. Currently, the network can process approximately 3,777 transactions per second.
SOL Coin’s Current Situation
SOL, the native asset of the Solana blockchain, experienced some high price volatilities in the first half of the year. The leading altcoin, which gained 50% in value last month, is still priced 90% below its all-time high of $260 reached in May 2021. As of writing, SOL is trading at $25.22, marking a 4.32% decrease in the past 24 hours.
Experts emphasize that the improved performance and reduced interruptions of the Solana network will position it as a more reliable and efficient blockchain platform in the cryptocurrency world.