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❕NEWS Solana Announces Network Upgrade Improvement Plan, Potential Impact on SOL Price

A

ammu40

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Solana, a blockchain platform, has released a plan to improve its network upgrade process by forming an adversarial team, improving the restart process, and prioritizing stability. The platform's co-founder, Anatoly Yakovenko, announced the "Plan to Improve Network Upgrades" and stated that the recent issues during the 1.14 network upgrade demonstrate the need for stability. Solana aims to maintain a balance between reliability and speed while improving the upgrade process. The platform plans to automate the restart process, create a second validator client, transition to QUIC network protocol, and make other critical improvements to achieve stability in 2023. If the network upgrade is successful after the changes, the latest improvements could likely improve SOL's price.
 
This information is very relevant to the Solana ecosystem which has already had several hacks and many interruptions during the last year, the most recent I think was on February 25 if I remember correctly, this does not favor the network and makes it much less competitive against its competitors, the fact that it has very cheap transactions and has very fast transactions will not help if they do not keep the network stable.
 
By improving the upgrade process, Solana can ensure that its network remains reliable, secure, and efficient, which is critical to maintaining user trust and attracting new ones. In addition, by demonstrating a commitment to continuous improvement and innovation, Solana can differentiate itself from other blockchain platforms and stay ahead of the competition.
 
Solana has outlined a plan for core engineers to help improve the upgrade process. Core engineers will release the new version to mainnet-beta validators for upgrade only after repeatedly stress-testing the testnet. This will help remove unnecessary steps before a network upgrade.
 
I believe it may increase the price of Sol. There have been several hacks last year on many networks and exchanges. This upgrade may bring a sense of assurance to current holders and potential ones.
 

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