Blockchain and Web 3.0: Solana’s Uptime and Reliability
The Solana Foundation has released its latest performance report, showing that the Layer-1 blockchain network has improved its reliability and uptime so far in 2023, with only one outage since February 25th. This is a major improvement compared to previous years, when the network was plagued with outages caused by its low-cost transactions.
The report highlighted the fact that Solana has achieved 100% uptime since February 25th, with the single February outage lasting for almost 19 hours. Co-founder Anatoly Yakovenko has previously called the outages a “curse”, but the latest report shows that the network is now much more reliable.
The improvement in Solana’s uptime and reliability has major implications for blockchain and Web 3.0. With the rise of Crypto.com, High Street Crypto, and other platforms, the ability to trust the network is paramount. This report shows that the Solana network is well on its way to becoming a reliable, secure, and trustworthy platform for blockchain and Web 3.0.
Voting Transactions and Blocktimes
The report highlighted that there have been improvements in the ratio of voting to non-voting transactions. Voting transactions take place when a validator votes to confirm one or more proposed blocks of information, while non-voting transactions are triggered by user actions on the blockchain. Blocktimes, which measure the speed at which new blocks are added to the chain, have become more consistent apart from the spike during the outage.
Transactions Per Second
Transactions per second (TPS) are also used to measure the network’s performance and throughput. According to Dune Analytics, Solana’s maximum daily TPS has been increasing since January, with significant increases that correspond to new network upgrades. The current figure on the network is 3,777 transactions per second.
Crypto.com Latest and Sui Network
The Artemis dashboard reports a daily transaction count of 19.2 million for Solana, which had been the leader for this metric until it was recently surpassed by the Sui Network due to the popularity of a Web3 game.
At the time of writing, the token of the blockchain, Solana (SOL), had decreased by 4.5%, to around $25.50, according to Cointelegraph data. Despite the 50% gains it has seen over the past month, the token is still down 90% from its all-time high of $260 in November 2021.
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