Solana Outperforms Other Altcoins On 'Alpenglow' Upgrade Push

Solana Outperforms Other Altcoins On ‘Alpenglow’ Upgrade Push

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Highlights

Solana Alpenglow upgrade will replace the current Proof of History and Tower BFT mechanisms.
If approved, Alpenglow could enable real-time finance, gaming, and social apps on Solana, driving institutional adoption.
SOL price climbed 3% to $211 as daily trading volumes jumped 43%. Retail sentiment hit an 11-week high.

Despite the broader crypto market consolidation, Solana (SOL) price is up 3% today, moving to $211, as its new consensus protocol ‘Alpenglow’, enters the community voting phase. The daily trading volumes for SOL surged by 43% as bulls eye to break out past $212 resistance, with retail sentiment at an 11-week high. SOL also extends its weekly gains into double-digit outperforming most of top altcoins.

Solana’s Alpenglow Proposal Enters Community Vote

Alpenglow, Solana’s latest consensus upgrade proposal – SIMD 0326 – has entered the community voting phase. This proposal is scheduled across Epochs 840 to 842, with each epoch lasting approximately two days. The proposal aims to reduce block finality time from the current 12.8 seconds to around 150 milliseconds. The development sent the SOL price soaring above $200 once again.

Developed by Anza, a Solana Labs spinoff, Alpenglow proposes replacing Proof of History, a “pre-recorded clock” mechanism, along with Tower BFT, the current consensus voting system.

To pass, the upgrade requires a two-thirds majority of “yes” votes. As of Epoch 840, voter turnout stands at 9.87%, with 9.76% in favor, as per the official Alpenglow consensus details. Upon approval, Alpenglow will majorly boost Solana’s speed by offering a competitive edge for high-frequency decentralized applications, institutional adoption, and DeFi use cases.

While major developers and validators have expressed strong support, some community members remain cautious about reliability and decentralization, given Solana’s previous network issues.

Key Benefits of the Alpenglow Upgrade

The Alpenglow upgrade will enhance overall developer experience and user responsiveness. Moreover, it will also enable advanced applications on Solana, such as real-time finance, gaming, and social platforms.

By supporting these use cases, the changes could drive higher on-chain activity and potentially boost demand for the SOL token. Furthermore, achieving the sub-one-second finality is a major development, boosting the overall blockchain performance. While Solana has previously tested “optimistic confirmations” to lower latency, Alpenglow formalizes this approach into a verifiably fast consensus protocol.

SOL Retail Euphoria Hits 11-Week High, Topping Other Altcoins

Blockchain analytics firm Santiment has SOL’s recent pump to $211 is once again retesting its February resistance level. Retail sentiment appears highly optimistic, with 5.8 bullish comments for every bearish one, the strongest ratio in 11 weeks, higher than most altcoins.

Solana retail sentiment hits 11-week high — Source: Santiment

Furthermore, the SOL blockchain network is all prepared to ride the stablecoin market growth in the coming years. Greg King, CEO of REX Financial, has suggested that Solana could emerge as the next major player in the rapidly expanding stablecoin market. He argues that SOL’s technology offers advantages over Ethereum, which currently leads the sector.

As of press time, SOL price is trading 3.78% up at $211, with daily trading volumes surging to $12.7 billion. As per the Coinglass data, SOL futures open interest (OI) surged 6.78%, to more than $13 billion.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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