Unlocking Solana’s Potential: Mainnet Upgrade v1.18.15 Promises Game-Changing Improvements

Solana Stablecoin Supply Rises 8%, USDC Surges 20%
  • Mainnet v1.18.15 enhances scalability, stability, and performance for Solana’s blockchain.
  • Significant improvements tackle network congestion, ensuring smoother transactions and operations.
  • Enhanced security, metrics, and optimizations elevate Solana’s blockchain infrastructure to new heights.

Amidst the meme coin craze and huge demand for platforms on Solana-based blockchains, the Solana team is preparing another major mainnet upgrade to strengthen the Solana blockchain. According to a post by Solana Status on June 10, 2024, the team has recommended the release of v1.18.15 for the mainnet upgrade.

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This upgrade is planned to resolve major congestion issues on the network mainly caused by the launch of the Solana-based meme coin. The Solana team asked mainnet beta validators to update to the v1.18.15 release. Some of the most significant improvements coming with this upgrade include bringing Bump to version 1.18.15, a stable release compatible with Mainnet Beta.

This enhancement incorporates a certificate authority (CA) into the Docker image, fixes an issue that prevented valid transactions from being sent back to the queue, and adds metrics for failure thresholds. Additionally, scheduler optimizations will be included as worker precompile verification, and shallow threshold checks will be used only during the consensus mechanism.

Validators are expected to provide updates if delinquent stakes fall below 5% and report any issues they encounter while monitoring nodes. Due to disruptions incurred in past upgradation attempts developers as well as validators are also looking forward to this highly anticipated upgrade.

The price of SOL has reduced by 3.3% in a 24-hour period while the current price stands at $154.50. However, the Solana saw a 58.81% boost in its trading volume. The price of Solana is $121,77, which is the all-time high.

SOL price rose as high as within the $210 zone in March 2024, but the price turned quickly due to several reasons: this involves a slowdown in progress towards the cutting of interest rates by the Fed. Traders will be eyeing $210 again before rallying further to $250.

Solana’s upcoming upgrade, Mainnet v1.18.15, reflects the commitment of the platform to continuous improvement and innovation. By tackling congestion and improving the network’s stability, Solana is cautiously building the foundations for stable and sustainable growth.

This points to a positive outlook of Solana in the crypto space essentially reaffirming its role as an ideal blockchain platform for addressing growing use cases for blockchain across various sectors.

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