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2024’s most popular altcoin, Solana‘s main network, recently faced network congestion issues, leading to the rollout of update v1.18.11 on Anza’s test network. However, the initial deployment of this update encountered problems, causing the update to fail. Today, a joint effort to alleviate the ongoing network congestion resulted in the re-presentation of the test update and a network restart.
Update Issue Stirs Solana Network
The re-presentation of the update for Solana’s test network, especially amid criticisms related to network congestion issues in the cryptocurrency world, drew reactions amidst increasing investor optimism about the network’s future expectations.
Amid the successful deployment of the v1.18.11 update on the test network, Solana’s main network asset, SOL, faced significant price fluctuations. The v1.18.11 update on the Anza test network aims to resolve the disturbing congestion issues of the Solana network. Following the release of the update, validators on the test network quickly transitioned to the latest version to assess the effectiveness of the proposed congestion fixes.
Despite encountering test network-specific issues that led to the failure of the initial update, the successful restart of the update today represents a significant turning point for the Solana community. Additionally, Solana recently carried out a significant update in the test version of the main network to resolve ongoing network congestion issues. The availability of version v1.17.31 for the main network update on April 15 reflects the platform’s proactive approach to solving dynamic cryptographic problems.
SOL’s Price Drops
Despite efforts to resolve network issues, the price of Solana’s main network asset, SOL, has dropped. Current data shows SOL trading at $142.61, down 1.88% in the last 24 hours. The altcoin‘s performance reflects high volatility, oscillating between positive and negative territories over the past day. This price volatility is primarily linked to ongoing improvements aimed at resolving network congestion issues.
Furthermore, SOL’s price movement indicates a retreat caused by decreasing trust in the network’s functionality within the cryptocurrency world. However, with the successful re-presentation of the v1.18.11 update on the test network and the implementation of version v1.17.31 for the main network update, cryptocurrency enthusiasts expect a short-term recovery in the altcoin’s price.
