Solana

Status

<ul> 
 <li>Solana Status announced the mainnet upgrade for the Solana network, version 1.17.31.</li> 
 <li>This upgrade includes improvements that will aid in reducing the persistent congestion.</li> 
</ul> 
To address the persistent congestion problems on the network, <a href="https://thenewscrypto.com/solana-co-founder-advocates-ore-fork-for-network-stress-testing/" target="_blank" rel="noreferrer noopener">Solana</a> has released an upgrade on mainnet beta. After the recent network congestion problems that delayed or failed 75% of transactions, the price and sentiment of Solana ecosystem tokens plummeted. 
Solana Status announced the mainnet upgrade for the Solana network, version 1.17.31, in a post on X on April 15. To stop the Solana network from experiencing further congestion, validators for the Mainnet Beta must upgrade with the release. 
<h3 class="wp-block-heading" id="h-addressing-persistent-congestion-issues">Addressing Persistent Congestion Issues</h3> 
This release is ready for Mainnet Beta and has shown to be stable. This upgrade includes improvements that will aid in reducing the persistent congestion on the Solana Network. 
<a href="https://www.linkedin.com/in/anatoly-yakovenko" target="_blank" rel="noreferrer noopener nofollow">Anatoly Yakovenko</a>, co-founder of Solana stated: 
<blockquote class="wp-block-quote"> 
 “The gestation time for a major release is around 30 patch releases.” 
</blockquote> 
Additionally, the Solana-centric devshop Anza released version 1.18.11 to devnet. The persistent congestion problems on the Solana chain will be resolved with the upgrade. Based on what Anza has mentioned, the Agave validator client’s behavior and a QUIC implementation are the main causes of network congestion. 
Anza said that v1.18, which would address congestion concerns further on the network, will be released after the most recent mainnet upgrade. 
Lookonchain, an on-chain platform, also revealed that whales pulled around $3 million worth of Solana out of <a href="https://thenewscrypto.com/binance-app-surges-ahead-with-over-6-3-million-downloads-in-2024-so-far/" target="_blank" rel="noreferrer noopener">Binance</a> to purchase Solana meme currencies MEW and SLERF, just as the overall cryptocurrency market started to show signs of rallying. 
As a result of recent developments, the price of SOL jumped from its 24-hour low of $133.79 to a high of $156 as per data from <a href="http://coinmarketcap.com" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>. At the time of writing, SOL is trading at $144.57, up 4.55% in the last 24 hours. 
Highlighted Crypto News Today: 
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Solana’s Mainnet Upgrade Targets Network Congestion Issues

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TheNewsCrypto

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