Recently, a series of important events occurred on the Solana chain.
Especially in terms of the transformation of consensus mechanisms and on-chain economic activities.
1. Launch of the Alpenglow consensus protocol.
Solana has launched a brand new consensus protocol, Alpenglow, marking a major transformation in its technological architecture.
Alpenglow is designed to replace the original TowerBFT and historical proof mechanisms, introducing Votor and Rotor components, optimizing the voting and data propagation processes. Through these innovations, Solana achieves block confirmation times of 100-150 milliseconds, significantly enhancing transaction speed and network scalability.
This transformation not only enhances Solana's performance and resilience but also provides a response speed comparable to Web2 infrastructure. The release of Alpenglow is seen as a key step for Solana towards competitive capability at the level of internet infrastructure!
It can achieve millisecond-level block confirmation times!
2. Growth of on-chain economic activities on Solana.
Recently, the Real Economic Value (REV) metric on the Solana chain has shown strong growth.
EV measures the total fees paid by users on-chain, reflecting users' willingness to pay.
Solana's REV is about 2 to 4 times that of Ethereum L1, showing the vibrancy of its on-chain economic activities.
REV as a metric also has drawbacks of lag and susceptibility to manipulation, but despite this, Solana's high REV still indicates outstanding performance in retail user activity, further solidifying its market position as a high-performance blockchain.
3. Circle issues USDC on the Solana chain.
On May 22, Circle issued an additional 250 million USDC on the Solana chain.
This move not only enhances the liquidity of stablecoins on the Solana chain but also reflects the market's confidence in Solana as a high-performance blockchain.
The issuance of USDC provides more liquidity support for DeFi and other applications on the Solana chain, further driving the growth of on-chain economic activities.
4. Performance of trading volume on the Solana chain.
According to data from DeFiLlama, the DEX trading volume on the Solana chain reached $3.789 billion in the past 24 hours, demonstrating its strong performance in on-chain trading activities.
Although the trading volume on the BSC chain (due to ALP points) exceeds that of Solana and Ethereum combined, the on-chain trading activity of Solana remains highly active.
5. SOL is expected to return to $260 in the future.
In summary, Solana has made significant progress recently in terms of technological innovation and on-chain economic activities.
The launch of the Alpenglow consensus protocol marks a significant upgrade in Solana's technological architecture, redefining the possibilities of its role in the global digital economy.
At the same time, the growth of on-chain economic activities and the issuance of USDC further solidify Solana's market position as a high-performance blockchain.
Under the influence of these common factors, in the long term$SOL there will be another wave of significant price increases; returning to 260 may not seem impossible.