Solana

Memecoin

April

Status

In response to recent woes on its network, Solana, a popular blockchain platform, has released a new software update aimed at tackling congestion issues brought on by an increase in meme coin trading activity and a rapid influx of users.
<h2 id="solana-introduces-update-to-address-network-congestion-issues">Solana Introduces Update to Address Network Congestion Issues</h2>
According to the developers, the latest update, labeled v1.17.31, is now recommended for general use by mainnet validators, as noted in a recent post on X.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The v1.17.31 release is now recommended for general use by MainnetBeta validators. This release contains enhancements which will help alleviate the ongoing congestion on the Solana Network.
 — Solana Status (@SolanaStatus) <a href="https://twitter.com/SolanaStatus/status/1779727821834686592?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 15, 2024</a>
</blockquote>
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This release includes improvements designed to alleviate ongoing congestion on the Solana Network.
Responsible for confirming transactions and ensuring the security of the blockchain network, validators play a crucial role in maintaining network integrity.
Therefore, they are advised to constantly upgrade their nodes with newer versions to address any issues that arise.
The Solana network has faced congestion issues in recent months, exacerbated by the meme coin trading craze and a significant increase in user activity.
Transaction volumes have soared to unprecedented levels, reaching $4 billion in March and significantly exceeding typical daily figures of less than $500 million in 2023.
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The latest update, version 1.18, which is currently being tested on a private testnet, aims to prioritize transactions from validators with significant risks.
This prioritization mechanism routes transactions to the node leaders where they are confirmed, thus ensuring a higher quality of service for validators with significant stakes and reducing the risk of network congestion caused by lower quality validators.
As version 1.18 undergoes rigorous testing on the testnet, Solana continues its efforts to improve network efficiency and scalability and reinforces its commitment to providing a seamless blockchain experience for its users.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/popular-blockchain-platform-released-a-new-update-to-fix-issues-due-to-memecoin-craze/" rel="noopener noreferrer nofollow">Popular Blockchain Platform Released a New Update to Fix Issues Due to Memecoin Craze!</a>

Popular Blockchain Platform Released a New Update to Fix Issues Due to Memecoin Craze!

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