The Solana network has demonstrated remarkable progress in performance and reliability in the first half of 2023. According to a report from the Solana Foundation, the network experienced just one outage during this period. This marks a significant advancement compared to previous years.
The Solana Foundation’s latest performance report, released on July 20, highlights the considerable improvements achieved by the network in the first half of 2023. These improvements were measured by uptime and the ratio of non-voting-to-voting transactions.
Minimal Outages in 2023 and 100% Uptime in Q2
Previously, the Solana network faced numerous challenges with reliability and uptime. Co-founder Anatoly Yakovenko referred to these issues as a “curse,” attributing the outages to the network’s low-cost transactions.
However, the recent report brings positive news, as Solana recorded 100% uptime since February 25. This remarkable achievement marks a whole quarter without a single outage, highlighting the network’s enhanced reliability.
Improved Ratio of Voting to Non-voting Transactions
The report also indicates notable improvements in the ratio of voting to non-voting transactions. Voting transactions involve validators confirming proposed blocks of information, while non-voting transactions are triggered by user behavior on the blockchain. As the network becomes more efficient, the overall percentage of voting transactions is expected to decrease over time.
Additionally, blocktimes, which measure the speed of adding new blocks to the chain, have become more consistent, except for a spike during the outage. Moreover, the network’s transaction throughout, measured in transactions per second (TPS), has seen a steady increase since January.
Notably, new network upgrades correlate with significant TPS boosts. This is with Dune Analytics reporting a current figure of 3,777 transactions per second.
Solana’s Transaction Leadership and Token Performance
According to the Artemis dashboard, a daily transaction count of 19.2 million for Solana is reported, confirming its leadership position in this metric. However, the Sui Network has recently gained popularity due to a Web3 game, usurping Solana’s top spot.
Despite experiencing a 4.5% drop in price on the day, Solana’s native token remains strong. At the time of writing, the token is valued at approximately $25.50, as per Cointelegraph data. Over the past month, the token has exhibited significant gains of 50%, although it is still down 90% from its all-time high of $260 in November 2021.