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Solana Announces Network Update To Fix Congestion Issues Worsened By SOL Meme Coin Mania

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Solana price
Solana price

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The Solana blockchain has announced an update seeking to address congestion issues on the network caused by surging meme coin activity.

Its development team said in a post on X that the v1.17.31 recommended update will contain “enhancements” that will improve the performance of the network.

This update was rolled out by Anza, a SOL-focused software development firm. The head of Anza, Rex St John, said the v1.17.31 is not an instant fix to the network congestion. Rather, it was the first step to more planned updates.

Anza has deployed the v1.17.31 version on the Solana Testnet. More than half of Solana network validators are already running this version of the validator client, according to Solana Beach.

Solana Network Congestion Issues

The Solana blockchain started experiencing network congestion issues after increased meme coin activity.

In March, volumes on the Solana blockchain surpassed $3 billion according to DeFiLlama. However, this growth has not been without issues, with the network recording a high number of failed transactions.

According to Solana developer, Mert Helius, the failed transactions were caused by bots and bad requests.

The SOL price has dropped by 11% in the last 24 hours to trade at $136 at 04:30 EST.

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