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Solana (SOL) Founder Unveils Big Blockchain Update: Details

Sun, 11/20/2022 - 12:48
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Gamza Khanzadaev
Anatoly Yakovenko urges validators to update nodes despite negativity around SOL
Solana (SOL) Founder Unveils Big Blockchain Update: Details
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Anatoly Yakovenko, co-founder of Solana Labs, which is responsible for developing the blockchain with the same name, urged all validators to update to the latest version of the node, 1.13.5. According to Yakovenko, the update should fix all Solana network outages caused by UDP-based protocols' overloads.

Previously, this problem had caused prolonged shutdowns of the Solana network, which is still in its test phase. According to Solscan, many of the largest validators in the Solana network have still not been updated. Of all the validators, only 44.53% have been updated to the latest version.

Despite the important update, the crypto community still has a number of questions about Solana's performance as a blockchain. The blocking of nodes by large data servers, their centralized storage, long outages and the fact that the co-founder personally has to ask validators to update raise a lot of questions and further increase the distrust of the blockchain.

Is Solana Next to Enter Cryptocurrency Graveyard?

State of Solana network

Earlier in the week, the project team published a snapshot of the state of the Solana network to prove the transparency of operations when most users are concerned about the impact of the FTX collapse.

According to the data presented, the average number of transactions per second is now 2,000. The average block time has also improved and is now around 0.5 milliseconds. On the downside, there has been a decrease in network activity, which is reflected in a decrease in the number of daily programs used.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.