Solana [Photo: Shutterstock]

Solana (SOL) is moving to improve network performance by increasing by more than threefold the data capacity that can be included in a single transaction and shortening block production intervals. With transaction volume and stablecoin use rising at the same time, it is strengthening its foundation to handle complex applications.

On Sept. 16, local time, blockchain outlet CryptoSlate reported that Solana applied a new transaction format, V1, on Sept. 15. Under V1, the amount of data that can be included in a single transaction expanded to 4,096 bytes, more than three times the previous level.

That makes it easier to handle complex tasks that require large amounts of information, such as privacy technology, multi-signature features and large-scale account data, in a single transaction rather than splitting them across multiple transactions. Developers can directly include up to 64 accounts, and can also include information related to compute resource requirements and fees in a transaction.

The larger data capacity does not directly lead to faster transaction speeds or lower fees. Solana explained that V1 is not a feature that automatically makes transactions faster or cheaper. Instead, it said the ability to handle more work in a single transaction can simplify development of complex applications.

Solana is also pursuing an upgrade to cut the mainnet slot interval to 250 milliseconds. A slot is the unit in which the network processes and records new activity, and it has been reduced in stages from the previous target of 400 milliseconds to 350 milliseconds and then 300 milliseconds. The shift to 250 milliseconds is scheduled to be applied on Sept. 18, and if successful Solana will be able to create about 4 slots per second.

Even so, reducing slot intervals does not mean throughput will increase in simple proportion. Validators must verify and propagate the work handled in each slot in less time, making validator processing performance and network stability important. The next stage on the current roadmap, 200 milliseconds, is running on the development and test networks, but no schedule has been set for applying it to mainnet.

Rising usage of the Solana network is also behind the performance overhaul. Solana said non-vote transactions in August totaled 5.2 billion, up 19 percent from about 4.2 billion in July. Over the same period, weekly revenue from Solana-based applications reached $40.8 million, the highest since January, and DEX trading volume totaled about $16.59 billion.

Stablecoin use also expanded. In September, daily active addresses that interacted with stablecoins totaled 888,000, about 2.7 times higher than 333,000 a year earlier. The supply of tokenised stocks also reached a record $684 million, widening the scope of use within the network.

The core of the overhaul is improving the structure so it can handle growing network activity while processing more complex tasks in a single transaction, rather than simply competing on speed. Whether the planned shift to 250 milliseconds on Sept. 18 operates stably under heavy network load is expected to be a key point to watch for moving on to the 200-millisecond stage.

Keyword

#Solana #V1 #CryptoSlate #DEX #stablecoin
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