Solana Update: Enhancing User Experience and Resolving Network Congestion
Recently, Solana users have experienced a significant number of failed transactions, leading to concerns. To address this issue, developers have launched version 1.17.31 of a new crypto update. This update is designed to alleviate high network traffic and greatly improve the overall user experience on the blockchain.
- SOL shows signs of recovery after a crash on Saturday
- Developers release version 1.17.31 to address network congestion
- The update aims to enhance user experience and reduce failed transactions
Solana Foundation’s Response
- Following community reports, developers launch version 1.17.31
- This version targets network congestion and computational load issues
- It offers a series of code improvements for optimal user experience
The Solana Foundation has advised validators on the mainnet to update their software to the latest version, emphasizing the importance of this upgrade in resolving existing network congestion issues.
Priority Transaction Scheme Implementation
- Anza collective’s contribution to the update in the testnet
- Introduction of SWQOS transaction priority scheme
- Classification of staking transactions as “good” for priority
By implementing the SWQOS transaction priority scheme, the update aims to prevent lower quality validators from flooding the network with unnecessary transactions. This strategic approach is expected to enhance the overall efficiency and performance of the Solana blockchain.
SOL Price Analysis: Recovery Trends After Weekend Crash
While developers work on resolving network congestion issues, the SOL coin has shown signs of a potential uptrend following a recent market downturn over the weekend. Despite a significant drop in prices on Saturday, SOL has managed to recover and surpass the $150 mark, signaling renewed optimism among investors.
- Price drop on April 13 followed by recovery above $150
- Positive market indicators suggest a potential rally continuation
- Derivative market liquidations recorded during volatile selling sessions
Market Indicators and Trading Volumes
- High trading volumes amid price recovery
- RSI14 indicates a possible end to the current retracement
- Focus on regaining $160 level and consolidation for further gains
Despite the recent market volatility, the SOL derivative markets have witnessed heavy liquidations for leveraged long positions, highlighting the impact of recent price movements on traders. Market data shows a decrease in open interest on SOL, accompanied by a significant adjustment in the funding rate.
Hot Take: What Lies Ahead for Solana and SOL Investors
As the Solana blockchain undergoes updates to address network congestion issues and enhance user experience, SOL investors are closely monitoring the market for signs of a potential price recovery and sustained growth. With ongoing developments and improvements, the future looks promising for Solana and its community of users and investors.
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