- On May 27, Solana will release a significant update (v1.18) to address network congestion.
- Updated after the 1.18.11 version was released in April and tested by validators with Anza.
- The value of Solana, which is presently selling at $158, is subject to market reaction.
Update on the Solana Network slated to occur in late May. With its mainnet beta scheduled for May 27, Solana is preparing for a big overhaul. In order to address the persistent congestion problems on the network, version 1.18 is essential.
The goal of the upcoming v1.18 is to greatly strengthen Solana’s infrastructure.
The Road Map for Solana’s V1.18 Update
Recently, a rise in bot-driven transactions employing meme currencies has made the congestion issues worse and resulted in a jump in transaction failures.
In response to these problems, Solana’s development team has been actively deploying a number of modifications meant to improve network speed. Notably, they released version 1.18.11 on the devnet on April 13 in cooperation with Anza, a significant infrastructure developer. The v1.18 is presently being tested by the validators.
Validators are essential members of the blockchain community. Their participation is crucial to the success of the new update since they validate transactions and aid in network security.
The success of the impending mainnet-beta launch will be greatly dependent on the input received during this testing phase.
On April 15, the developers issued version 1.17.31 as an addition to their preventive actions. MainnetBeta validators advised that this version, which was designed to relieve congestion, be used right away. It is a component of a larger initiative to maintain network stability in the face of varying transaction volumes.
Even with these technological advancements, Solana has seen high market volatility. Its value has decreased by more than 22% since the beginning of the month.
A low of $116 was attained earlier in April. But the price has since increased and is currently selling at about $158.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
