The lightning-fast blockchain platform, Solana, is gearing up for a significant mainnet overhaul aimed at mitigating network congestion precipitated by a recent surge in meme coin activity and heightened overall demand.
Mainnet Upgrade to Fortify Network
To prevent future issues on the blockchain, the Solana team is advising mainnet beta validators to upgrade to the new stable version v1.18.15. This update comes after the network recently faced congestion due to the rising popularity of meme coins in the Solana ecosystem.
Salient Modifications in v1.18.15
According to post from Solana Status on June 10th, the mainnet upgrade focuses in on fortifying network stability. Key alterations includes:
Revamped Core Protocol: The main protocol will be updated to v1.18.15, marking a stable release suitable for the mainnet beta environment.
Augmented Security Measures: The upgrade incorporates certificate authority (CA) certificates into the Docker image, thereby bolstering overall security.
Refined Transaction Management: A pivotal bug fix guarantees that valid transactions are re-queued for subsequent processing.
Sophisticated Monitoring Tools: Newly introduced metrics will furnish insights into threshold failures, thereby enhancing network monitoring capabilities.
Optimized Scheduling Mechanism: The upgrade integrates scheduler optimization for worker precompile verification, thereby augmenting efficiency.
Measured Enthusiasm for Upgrade
Validators are encouraged to perform the upgrade when less than 5% of the staked tokens are inactive. Although there is much anticipation for this update, some developers and validators remain cautious due to the potential for unexpected problems, as previous upgrades have sometimes caused network disruptions.
SOL Token’s Price Trajectory
The announcement of the upgrade has nominal effect of 0.13% uptick in the price of Solana’s native token, SOL. Although trading volume has plunged by 11% showing less active traders. However, analysts speculate that the price could ascend to new high during this bullish market phase. SOL recently peaked at $159.80, with analysts forecasting a potential resurgence to its March high of $210, and possibly further ascending to $250.
This upgrade highlights Solana’s proactive approach to ensuring network stability as adoption continues to increase. Implementing the upgrade successfully could not only make operations smoother but also potentially drive SOL’s price to new highs.
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