The Solana network, a prominent Layer-1 blockchain, is showcasing remarkable progress in its performance and reliability, with a significant reduction in outages during the first half of 2023. According to a report from the Solana Foundation, the network has experienced only one outage this year, signifying the network’s advancements.
Solana’s Reliability and Uptime Improvements
Notably, Solana’s past years were marred by issues of reliability and uptime, leading co-founder Anatoly Yakovenko to describe them as a “curse.” However, this year’s report shows substantial improvements attributed to low-cost transactions as the cause of previous outages. The latest performance report highlights that since February 25, Solana has achieved 100% uptime, a remarkable feat that marks an entire quarter without any outages. In contrast, a single outage in February resulted in the network being offline for almost 19 hours.
Enhanced Voting-to-Non-Voting Transactions Ratio and Blocktimes
The report also underscores the enhancements in the ratio of voting to non-voting transactions. Voting transactions occur when validators confirm proposed blocks, while non-voting transactions are generated by user interactions on the blockchain. Additionally, blocktimes, which measure the speed of new block additions, have become more consistent, except for the period of the outage.
1/ The Solana Foundation has released the most recent @Solana Network Performance report.
The Solana network’s performance has improved through H1 2023, as measured by uptime, the ratio of non-voting-to-voting transactions, & more.
Read the full report: https://t.co/naOftyknLA pic.twitter.com/yI9Q8swWdT
— Solana Foundation (@SolanaFndn) July 20, 2023
Increasing Transactions per Second (TPS)
The network’s performance and throughput are measured by Transactions per Second (TPS). Solana’s maximum daily TPS has been consistently rising since January, particularly with the introduction of new network upgrades. Currently, Dune Analytics reports that the network handles an impressive 3,777 transactions per second. The Artemis dashboard records a daily transaction count of 19.2 million for Solana, previously a leading metric until it was surpassed by the Sui Network due to the popularity of a Web3 game.
Solana’s Token Performance
Despite Solana’s network improvements, the native token SOL has faced some price fluctuations. At the time of writing, the token was down 4.5% on the day, valued at approximately $25.50. Despite a 50% gain in the past month, SOL remains 90% below its all-time high of $260 reached in November 2021.
Solana’s relentless efforts have resulted in significant improvements in network reliability and 100% uptime in the second quarter of 2023. The network’s focus on reducing outages and increasing throughput demonstrates its commitment to providing a seamless blockchain experience. However, SOL’s token price still faces challenges in regaining its previous all-time high. As Solana continues to enhance its performance, the crypto community eagerly awaits its further advancements in the blockchain space.
