New Solana Network Update Scheduled for Late May

2024-4-24 11:05

Solana is gearing up for a significant update, set to be released on May 27 for its mainnet beta. The version v1.18 is crucial in tackling the network’s ongoing congestion issues.

The forthcoming v1.18 aims to bolster Solana’s infrastructure significantly.

Solana’s Roadmap to V1.18 Update

The congestion problems have recently worsened due to an increase in bot-driven transactions involving meme coins, leading to a spike in transaction failures.

Solana’s development team has been actively implementing a series of upgrades designed to enhance network performance in response to these challenges. Notably, on April 13, in collaboration with Anza, a key infrastructure developer, they introduced version 1.18.11 on the devnet. The validators are currently testing the v1.18.

Validators play a vital role in the blockchain ecosystem. They confirm transactions and help secure the network, making their input essential for the new update’s success.

The feedback from this testing phase will be instrumental in ensuring the success of the upcoming mainnet-beta launch.

Read more: Solana vs. Ethereum: An Ultimate Comparison

Week #Monday DateGoals12024-01-22Create a v1.18 branch. Update the master branch version to 2.0.0. Testnet: Upgrade to v1.18.0.52024-02-19Devnet: Upgrade to v1.1882024-04-30Tag Mainnet-beta Upgrade Candidate (MUC) on the v1.18 branch.
Testnet: Upgrade to MUC92024-05-06Testnet: Live downgrade to v1.17, upgrade to MUC (100%).
Mainnet-beta: Ask for volunteers to take 10% of the stake to to v1.18102024-05-13Mainnet-beta: Ask for volunteers to take 25% of the stake to v1.18112024-05-20Testnet: Live downgrade to v1.17, upgrade to MUC (100%).
Mainnet-beta: Ask for volunteers to take 10% of the stake to v1.18122024-05-27Mainnet-beta: Recommend all nodes upgrade to v1.18v1.18 Release Schedule. Source: GitHub

Adding to their proactive measures, the developers released version 1.17.31 on April 15. This version, which aimed at congestion relief, was recommended for immediate use by MainnetBeta validators. It is part of a broader effort to stabilize the network amid fluctuating transaction volumes.

Despite these technical strides, Solana has faced significant market volatility. Since the start of the month, its value has dropped by over 22%.

Solana (SOL) Price Performance. Source: TradingView

It reached a low of $116 earlier in April. However, the price has rebounded, now trading at approximately $158.

The post New Solana Network Update Scheduled for Late May appeared first on BeInCrypto.

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