solanaThe v1.18.11 update, promoted by Anza after encountering network congestion issues, was reportedly rebooted today as it had failed previously. The second attempt to restart Devnet was stated to be successful in a post shared by Solana core developer ‘starry’. This initiative is seen as an effort to reduce network congestion and creates positive sentiment among investors about future initiatives by Ethereum rival Solana.
During this update, Solana’s native token SOL experienced quite volatile price movement.
Devshop Anza’s v1.18.11 Update: A Closer Look
A Solana-focused devshop called Anza had introduced the v1.18.11 update to devnet, which aims to fix congestion issues in the Solana chain. Following the deployment of the update, validators on the testnet were upgraded to the latest version to analyze the effects of the proposed congestion fixes.
However, the core developer highlighted in a post yesterday that the upgrade encountered issues specific to devnet, causing it to crash. Recognizing these issues, the update was relaunched today and is considered an important step for the Solana community.
SOL facilitated a major update to the mainnet beta to address the network’s ongoing congestion issues. Ethereum’s rival released v1.17.31 for the Solana network on April 15, supporting the company’s efforts to solve dynamic cryptographic issues. This update increased optimism in the Solana ecosystem.
However, following this update, Solana’s native token SOL seems to be facing a setback.
Solana (SOL) Price Drops
As we reported as Koinfinans.com, at the time of writing this news, SOL is currently trading at $142.61, having experienced a 1.88% decrease in the last 24 hours. The token’s market chart has been showing volatile movement in both positive and negative areas over the past day. These price fluctuations are attributed to ongoing blockchain development efforts aimed primarily at preventing network congestion.
From a broader perspective, it appears that the SOL token has suffered a significant setback with the crypto community losing confidence in the functionality of the network. However, update v1.18.11 for devnet was successfully rebooted and version v1.17.31 was released for Solana network. These developments, crypto- This causes market enthusiasts to expect a supported price movement for the token.
