What’s Happening After Network Upgrade

Solana restart news: A network upgrade on Solana led to issues for users in trading digital assets on the blockchain. The network has been on restart mode due to an issue during the upgrade from 1.13 to 1.14 as it slowed down block finalization. The Solana network slowdown is attributed to an upgrade to validator software. However, the Solana price is not very much impacted with the network halt, compared with the crypto market. In comparison, Bitcoin price is down 0.60% in the last 24 hours.

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Solana Restart Progress

As users await the network restart in the wake of slow block production, about 72% of active stake is visible currently. Ideally, 80% of active stake is needed for the network to restart. The active stake figure will rise as more validators complete their restart. The key for restart here is that big volumes of stake are held by major centralized exchanges of the likes of Coinbase and Binance.

The Solana network has a history of similar outages, with the halt spanning for several hours. Described as a rival to Ethereum, the network halts is often subject to criticism in the crypto market, which is undergoing deep scrutiny from regulators across the globe. In a recent instance, a bug in the consensus algorithm led to Solana network outage in September 2022. The outage time in this case was about 7 hours.

Solana Mobile Saga

Meanwhile, amid much anticipation, the Solana mobile Saga, powered with Web 3.0 features, is set to debut next week, reports said. The Solana Saga phone is currently available for pre-order. The Android powered mobile will provide trading cryptocurrencies, minting Non Fungible Tokens (NFTs) and access to Decentralized Applications (DApps).

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @BitcoinReddy and reach out to him at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.