By
Svetlana Soroka
April 30th, 2024
Anza’s recent upgrade comes only shortly after Solana’s executive, Austin Federa confirmed that multiple developers were making efforts to fight congestion challenges.
Anza, the developer of one of Solana’s Agave validator clients has announced the release of a solution patch to alleviate the network’s congestion difficulties. The developers are aiming to find the best possible solution to tackle congestion issues on Solana.
Anza’s Proposed Solana Congestion Solution
Taking to the X platform, Anza stated that it has released a new version v1.18.11 on devnet and encouraged Solana’s testnet validators to install and analyze its effectiveness.
“Please upgrade ASAP to help us start analyzing the effects of the proposed congestion fixes,” Anza emphasized. This step is critical to the developers as it will enable them to assess the release and make any necessary corrections before the update is deployed on the mainnet.
.@Solana testnet validators, the v1.18.11 release is now deployed to devnet, recommended for use on testnet. Please upgrade ASAP to help us start analyzing the effects of the proposed congestion fixes. https://t.co/8tcmtZ5tuQ
— Anza (@anza_xyz) April 12, 2024
Anza’s recent upgrade comes only shortly after Austin Federa, the Head of Strategy at Solana Foundation confirmed that multiple developers were making efforts to fight congestion challenges. He stated that the unanticipated surge in demand for Solana’s network escalated the issue from tolerable to requiring improvement.
Federa linked the congestion issues to the implementation of QUIC, a popular internet transport protocol on Agave when processing multiple requests. Such congestion has resulted in slower transaction processing and higher transaction drop rates, affecting the overall user experience. As Coinspeaker previously reported, about 75% of non-vote transactions on the Solana blockchain failed coinciding with surges on the network.
Moreover, Solana’s architecture, which processes transactions directly without a mempool, is claimed to aggravate congestion during peak periods. However, the developers are reportedly working on numerous solutions to address the issue.
Surprisingly, Solana’s congestion issues arose shortly after the Solana community Superteam released a promotional film attacking ETHMAXI and Ethereum. This video claims that multiple developers have experienced ETHMAXI when attempting to cross-chain Solana through Wormhole. The official Solana account and the Chairman of the Solana Foundation also posted about the situation.
Impact of Meme Coin Ecosystem Growth on SOL’s Price
While Solana blockchain skyrocketed in popularity and demand, with trading volumes on its Decentralized Exchanges (DEXes) rising by over 224% month-over-month in March, SOL, the native cryptocurrency of Solana is currently down by 0.85% in the past 24 hours. The market cap of the cryptocurrency has also decreased by 0.83% to $77.4 billion, while trading volume is down by 19.13% to $2.6 billion.
The growth observed in the network in March was attributed to an increase in demand for SOL-based meme coins, which have grown popular among investors. While well-known coins like BONK and WEN have already carved out a niche in the meme coin market, new potential coins are entering the fray daily.
For instance, Donk.meme, a Solana-based meme coin, recently announced the launch of its presale for the DONKM token. The meme coin draws its inspiration from the talkative donkey character of the Shrek franchise, hoping not just to entertain but also to carve a niche for itself within the Solana meme coin ecosystem.