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Solana Releases Network Upgrade Improvement Plan, How It Impacts SOL Price?

Solana announces the "Plan To Improve Network Upgrades" to improve the network upgrade process due to the recent outage.
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Solana Releases Network Upgrade Improvement Plan, How It Impacts SOL Price?

Solana blockchain platform releases a plan to improve its network upgrade, which includes improving the upgrade process, forming an adversarial team, improving the restart process, and focusing on stability.

Solana co-founder Anatoly Yakovenko in a tweet on March 1 announces the “Plan To Improve Network Upgrades”. He believes the recent issues amid the 1.14 network upgrade for improving speed and scalability indicate the need for stability during the upgrades.

“2022 priorities were shipping new features and new tools. 2023 is stability. Tldr 1/3 of core eng is going to be focused on stability and adversarial testing.”

While the root cause of the outage last week is still unknown, the team is investigating the reasons behind the significant performance degradation during the 1.14 network upgrade. CoinGape explained the reasons behind frequent Solana blockchain outages.

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Network Upgrade Improvement Plan by Solana

Solana plans to maintain the balance between reliability and improving speed and scalability on the network. Until now, core engineers were fixing problems impacting the network’s speed and usability. However, core engineers now plan to improve the process for software release following the 1.14 release.

Solana has outlined a plan for core engineers to help improve the upgrade process. Core engineers will release the new version to mainnet-beta validators for upgrade only after repeatedly stress-testing the testnet. This will help remove unnecessary steps before a network upgrade.

An adversarial team is formed from nearly 1/3rd of the Solana Labs core engineering team to help find issues with upgrades. The team will also provide hardware to run medium to large clusters for adversarial simulation.

Solana team to automate the restart process, resolving failures with simpler procedures. Therefore, nodes will automatically discover the “latest optimistically confirmed slot”. Also, share the ledger with each other if it is missing.

Stability is the focus in 2023. Solana plans a second validator client by Jump Crypto’s Firedancer team, tooling by Mango DAO developers, transitioning to QUIC network protocol, and other crucial improvements.

Also Read: Why Is Cardano Founder Tweeting About Dogecoin (DOGE)?

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How SOL Price Will Impact?

Solana (SOL) price jumped over 2% in the last 24 hours, with the price currently trading at 22.72. The 24-hour low and high are $21.74 and $22.80, respectively. However, the trading volume has decreased by 15% in the last 24 hours, indicating a slight decrease in interest among traders.

The latest changes to likely improve SOL price if the network upgrade went successful after the changes. Solana should focus on that reliability does not suffer for the sake of innovation and speed.

Also Read: XRP Lawyer Predicts Win For Grayscale In Lawsuit Against US SEC

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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