Solana Rolls Out Mainnet Beta Update To Address Network Overload, SOL Up 2%
Portfolio Pulse from Khyathi Dalal
Solana has launched a mainnet beta update, v1.17.31, to address network congestion issues caused by high demand for block space, particularly from meme coin transactions. The update, which underwent three days of testing, includes enhancements to alleviate congestion and is part of a series of improvements. The Solana Foundation noted a transaction failure rate as high as 75% due to these congestion issues. Following the update, SOL's price increased by 2.1%, and its total value locked surged by 6.4% to $3.8 billion.
April 15, 2024 | 4:22 pm
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Solana's mainnet beta update v1.17.31 aims to address network congestion, leading to a 2.1% increase in SOL's price and a 6.4% rise in its total value locked to $3.8 billion.
The release of Solana's mainnet beta update v1.17.31 directly addresses the network's congestion issues, which have been a significant concern for users and investors. By tackling these problems, Solana aims to improve its network's efficiency and reliability, which in turn has positively impacted SOL's market performance. The increase in SOL's price and total value locked indicates a positive market response to the update, suggesting investor confidence in Solana's ability to manage and improve its network infrastructure.
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