Upgrade to enhance Solana's speed by 100 times nears vote; Possibility of 'Alpenglow' igniting a surge in SOL's price?
The Solana network is currently undergoing a significant change with the Alpenglow upgrade, a vote for which is being closely watched by traders. This upgrade, if approved, could help Solana compete more directly with other fast-moving networks and bring about a significant impact on the speed and efficiency of transactions on the Solana network.
The Alpenglow upgrade is a collective effort by the Solana validator community, with a 98.27% approval rate from SOL stakers. The upgrade was proposed and developed by Solana's R&D team, Anza Research. Two new systems, Votor and Rotor, are at the heart of this upgrade, designed to speed up transactions and make the network more efficient.
Votor is a new consensus protocol, replacing the previous system, while Rotor is a new data propagation layer. The Alpenglow upgrade also introduces a new "20+20" model to improve network resilience, even in the event of a large number of validators being offline or working against it. This model aims to boost network resilience for Solana, making the network more reliable and fair for users.
Traders may be keeping an eye on the Alpenglow vote as a potential catalyst for the next major move in SOL. The RSI for SOL is hovering near 58, indicating neither overbought nor oversold conditions. However, the MACD for SOL suggests slowing bullish pressure, indicating traders are cautious.
At press time, SOL was trading near $207, down around 3% on the day. Despite this pullback, SOL is holding on to much of its August gains, showing resilience. Early support for the Alpenglow upgrade has seen just over 10% of validators backing the move, with a vast majority yet to cast their vote.
If the Alpenglow upgrade is approved, confirmations on Solana could become almost real-time. Finalizing a transaction on Solana could drop from over 12 seconds to just 150 milliseconds, a significant improvement in speed. The SOL crypto treasury has also been gaining momentum, adding another layer of potential growth for the network.
The source for this information is forum.solana.com. The Alpenglow upgrade for Solana [SOL] is currently up for a validator vote. This upgrade, if approved, could make the Solana network more reliable, efficient, and competitive, marking one of the boldest changes yet proposed for Solana.
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