The Solana network is seeing steady improvements in performance and reliability as outages become more infrequent.
Layer-1 blockchain network Solana has shown an improvement in reliability and uptime so far this year only having one outage in 2023, according to a report from the Solana Foundation.
On July 20, the Solana Foundation released its latest performance report stating it has improved the network through the first half of 2023, as measured by uptime and the ratio of non-voting-to-voting transactions.
In previous years, Solana has been plagued with reliability and uptime issues. Co-founder Anatoly Yakovenko has called them a “curse” but said the network’s low-cost transactions were the cause of the outages.
The latest report noted Solana has experienced 100% uptime since Feb. 25, marking a whole quarter without an outage. The single February outage saw the network knocked offline for almost 19 hours.
The report added there have been improvements in the ratio of voting to non-voting transactions. Voting transactions occur when a validator votes to confirm one or more proposed blocks of information and non-voting transactions are triggered by user behavior on the blockchain.
“Over time, we would expect to see the ratio of voting to non-voting transactions go down because the overall percentage of voting transactions should drop as the network gets more efficient.”
Blocktimes, which measure how quickly new blocks are added to the chain, have also become more consistent aside from the spike during the outage.
1/ The Solana Foundation has released the most recent @Solana Network Performance report.
— Solana Foundation (@SolanaFndn) July 20, 2023
The Solana network’s performance has improved through H1 2023, as measured by uptime, the ratio of non-voting-to-voting transactions, & more.
Read the full report: https://t.co/naOftyknLA pic.twitter.com/yI9Q8swWdT
Transactions per second (TPS) are also used to measure the network’s performance and throughput. Solana’s maximum daily TPS has been climbing since January with significant increases that correlate with new network upgrades, it noted. Dune Analytics reports the current figure on the network at 3,777 transactions per second.
Related: Solana price hits a 2023 high, but do strong fundamentals back the SOL rally?
The Artemis dashboard reports a daily transaction count of 19.2 million for Solana, which has been the leader for this metric until it was recently usurped by the Sui Network due to the popularity of a Web3 game.
The price of the blockchain’s native token, Solana (SOL), was down 4.5% on the day — around $25.50 at the time of writing, according to Cointelegraph data.
The token has been performing well over the past month with gains of 50% but remains down 90% from its November 2021 all-time high of $260.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.
Magazine: How smart people invest in dumb memecoins — 3-point plan for success
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments