Solana development team Anza announced on the X platform that its testnet version 1.18.11 has been released. It is recommended that testnet verification nodes be upgraded to help developers observe the effect of relevant patches on congestion issues.

A data-driven overview of the Solana Blockchain

As of April 3rd, the number of settlement transactions on the Solana blockchain in the first quarter reached 2.4 billion, exceeding the total of TRON, Near, BNB, Sei, Polygon, Injective, Sui, zkSync, and Ethereum.

Helius CEO Mert Mumtaz, the Solana ecosystem development platform, explained the reason for Solana's recent network instability on social media. He pointed out that Solana's current problems are not due to protocol design flaws, but rather bugs that have appeared in specific implementations. Solana uses the QUIC network protocol, but the current implementation version of QUIC has some flaws and errors. Protocol design is like the overall design of a car, while specific implementation is like different models of cars from different brands. The fact that a certain brand and model has a problem does not mean that all cars have design flaws. Solana only needs to replace the problematic "parts" without changing the entire "model". He revealed that the implementation being developed by Firedancer does not have the same problem. The fix is expected to be released on April 15th, and if other issues are found during the testing process, the launch time may be delayed. In addition to technical issues, the CEO believes that Solana also needs to consider long-term economic sustainability factors, and can more clearly plan the local fee market and economic incentive measures after fixing bugs.

Solana (SOL) is an integrated, open-source blockchain with the goal of synchronizing global information at the speed of light. Solana optimizes for latency and throughput, sacrificing some verifiability. It seeks to accomplish this through features such as its novel timestamp mechanism called Proof-of-History (PoH), block propagation protocol Turbine, and parallel transaction processing. Since mainnet launch in March 2020, several network upgrades have brought further network performance and resilience, including QUIC, stake-weighted Quality of Service (QoS), and local fee markets.

1. More than $13 billion in funds have been used to participate in Saga staking mining, making it Binance’s largest Launchpool to date

Andre Cronje, a director of the Fantom Foundation, wrote on X platform regarding the congestion issue on the Solana network. Currently, the crypto community has a high demand for block space on Solana, which is actually a bottleneck that needs to be optimized. However, this issue is just an engineering obstacle and not a consensus error, nor does it involve any important component problems. Solana can be considered a "successful victim".

According to CryptoSlam data, Froganas NFT series on Solana's chain jumped to the top of the NFT market on Friday with significant sales performance. In the past 24 hours ending at 11 a.m. Eastern Time on Friday, the cumulative sales reached $1.45 million, representing a 20.49% increase in 24 hours.

The Anza development team (formerly part of Solana Labs, now led by core developer trent.sol) responsible for handling congestion on the Solana network, announced the latest progress on fixing congestion issues in the Agave client on X platform. Anza stated that significant progress has been made in the repair work and is expected to begin releasing fixes next week. The team has worked with other core contributors to analyze the root cause of the congestion and evaluate several potential change solutions. In addition, the Anza team will also release a test patch today to address the current network congestion issue, and if the patch runs smoothly, it will be more widely promoted.

Solana's average daily spot DEX trading volume increased by 319% to $1.5 billion compared to the previous period. Solana has become the main venue for retail users and memecoin traders. Projects built primarily on Solana raised $89.2 million in the first quarter, $2.5 million more than the total raised in 2023.