Latest Updates on Solana: Technical Improvements and Organizational Challenges
Solana, the fast and future-oriented cryptocurrency, is witnessing several important developments. Here are the latest major updates:
Technical Improvements
- *Alpenglow Project*: This project aims to replace the current consensus mechanism TowerBFT and the Proof of History (PoH) system with Votor and Rotor components. This shift will reduce the time to finalize blocks from 12.8 seconds to 100-150 milliseconds and significantly improve network stability.
- *Improved Votor Compatibility*: This enhancement will increase transaction processing capacity to a theoretical peak of 10,000 TPS, while reducing the minimum hardware requirements for validator nodes.
- *Rotating Data Transfer Innovation*: This innovation will enhance the network's resilience under high load and reduce "jumps" in data transmission.
Organizational Challenges
- *Delay in SEC Decision on ETF*: The U.S. Securities and Exchange Commission (SEC) has delayed its final decision on Solana's ETF applications, citing the need for further review of legal and policy issues. This delay may impact Solana's price in the short term.
Market Performance
- *Solana's Activity Outperforming Ethereum*: Solana's network activity has outperformed Ethereum due to the high demand for Solana-based meme coins, resulting in challenges for the network to keep up with the significant increase in activity.
- *Increased Trading Volume*: The total trading volume of Solana has risen to $3.52 billion, surpassing the daily trading volume on the Ethereum network by more than $1.1 billion.
Market Forecasts
- *Solana Price Predictions*: Analysts expect Solana's price to challenge the resistance level of $180 if positive news is released at the SolanaConf conference. In the long term, the implementation of Alpenglow and progress in ETF funds will be key factors in determining whether Solana can surpass the $200 barrier.