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Solana is preparing for a major update that will be released on May 27th to the mainnet beta. Version v1.18 is critical to solving current network congestion issues. The upcoming version 1.18 is designed to significantly improve the Solana infrastructure. Congestion issues have become worse recently due to the increase in bot-managed transactions involving memcoins, which has led to a sharp increase in transaction failures.
The Solana development team is actively implementing a series of updates designed to improve network performance in response to these issues. It is noteworthy that on April 13, in collaboration with key infrastructure developer Anza, they presented version 1.18.11 to devnet. Validators are currently testing version 1.18. Validators play a vital role in the blockchain ecosystem. They confirm transactions and help secure the network, making their contributions essential to the success of the new update. Feedback from this testing phase will contribute to the success of the upcoming mainnet beta launch.
In addition to their preventive measures, the developers released version 1.17.31 on April 15th. This congestion-relieving release has been recommended for immediate use by MainnetBeta validators and is part of efforts to stabilize the network amid fluctuating transaction volumes. Despite its technical successes, Solana faced significant market volatility. Since the beginning of the month, its value has fallen by more than 22%. It hit a low of $116 earlier in April. However, the price has recovered and is now trading at around $158.
Image: CoinGape
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