Solana Implements Update

Solana, one of the popular blockchain platforms, has announced the introduction of a new software update aimed at addressing network congestion issues that have arisen in recent months. Version 1.17.31 marks the first in a series of planned updates to improve the situation.

Network congestion issues have emerged in recent months, particularly during the frenzy surrounding meme cryptocurrencies, leading to a significant increase in user activity and demand for the network. Transactional volumes reached as high as $4 billion in March, compared to typical values of below $500 million per day in 2023.

The solution to this problem is the introduction of an update that will improve network performance and alleviate the current "congestion." Solana developers have announced that the new software version is available for general use by the network's main validators, which is expected to help improve the situation.

Rex St John, Head of Developer Relations at Anza, the company responsible for implementing the update, emphasized that version 1.17.31 is the first step towards addressing network congestion issues. Validators, entities responsible for node operation and transaction confirmation, must consistently update their nodes to address any issues that may arise on the network.

One of the main contributing factors to congestion was the use of bots generating a significant number of "failed" transactions. Importantly, despite being successfully transmitted to the network, failed transactions were flagged by smart contracts as "bad requests."

The new update aims to improve network stability by prioritizing transactions from validators with a larger stake, which is intended to prevent the flooding of the network with lower-quality transactions.

*this is not a financial advice