Several Factors Will Send One Ethereum Competitor to the Moon Over the Coming Months, According to Altcoin Daily
Altcoin Daily host Aaron Arnold is looking under the hood of a layer-1 blockchain protocol that has recently been hampered by network performance issues.
In a new video, the closely followed trader tells his 1.2 million subscribers that Solana (SOL) looks primed to rebound from its rough start to 2022 and surge ahead in the coming weeks.
Arnold notes that first and foremost will be to resolve the network being overloaded.
“The TLDR is, with all their success, their biggest issues over the past year has been performance problems because the network was getting used too much.
Well, they’ve been thinking about this a long time, and in the next four to five weeks, this will be solved.”
Solana Labs co-founder Anatoly Yakovenko took to Twitter to discuss upgrades after liquidator bots started flooding the Solana network with spam messages.
“These messages unearthed a bug in how the network was handling duplicates. The code responsible for deduping [eliminating duplicate copies of] messages was after the signature verification, and was taking up to 100us per packet to process. That was fixed in [version] 1.8.14.
Since then, the network has seen much better performance, but there is still some starvation happening from liquidator spam.
Engineers plan to introduce flow control in 1.9 with QoS [quality of service] by stake weight, but now implementing this feature in 1.8 is the highest priority.
The implementation uses QUIC to rate limit senders, and should be rolled out in the next 4-5 weeks.”
In a series of leaked images, technology blogger Jane Manchun Wong revealed to her 132,000 followers that she uncovered how non-fungible token (NFT) marketplace OpenSea plans to add Solana NFTs to its platform.
OpenSea’s Chains Filter showing Solana as an option pic.twitter.com/asQoYrfTm4
— Jane Manchun Wong (@wongmjane) January 25, 2022
Solana has already made a huge impact in the NFT space, first breaking into the top-5 NFT blockchain rankings back in November, and is now ranked second behind Ethereum, according to data aggregator CryptoSlam.
The Altcoin Daily host also mentions that SuperLayer, the venture studio behind the Rally Social Token (RLY), will harness the Solana network to host its RLY-powered consumer products.
“Great news for Solana. Social tokens are still pre-mainstream, we’re very early on that.”
Solana is down 8.97% on the day and trading for $90.22 at time of writing. This continues a downtrend for SOL, which has fallen 48.1% in 2022 from $173.62.
I
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/mim.girl/Natalia Siiatovskaia
The post Several Factors Will Send One Ethereum Competitor to the Moon Over the Coming Months, According to Altcoin Daily appeared first on The Daily Hodl.
