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Are Solana outages over? New Firedancer validator client goes live aims to solve SOL outages, making it even more attractive for meme coin projects and DeFi protocols.
Solana is known for some exciting features: speed, scalability, and low fees.
In fact, proponents say Solana is everything that Ethereum is not. For years, the pioneer smart contracts platform has struggled with scaling issues (it can only process 15 transactions per second).
Subsequently, transacting on the mainnet is expensive, even prohibitive for ambitious meme coin projects.
However, while Solana appears to be this “modern” blockchain, everything has not been good. In several instances, the network has “stopped” working. This halting is not part of the script. It is not supposed to happen.
Solana and Firedancer: The Quest For Decentralization
Therefore, to address reliability concerns and compete with Ethereum, Bitcoin, and Litecoin, Solana is making some adjustments: developing Firedancer.
The upgrade is a work in progress but very crucial for Solana and its reliability. The fact that the Firedancer website is now live is a huge boost, signaling that work is proceeding positively.
So, what precisely is Firedancer?
Firedancer is a new validator client software for Solana built by Jump Crypto. Analysts say the client signifies Solana’s commitment to permanently eliminating network outages.
The cool thing about Firedancer is that it is built from the ground up by an independent project. By introducing a diverse client base (similar to Ethereum), the network will be more diverse, making it less susceptible to single points of failure.
Before this planned update, Solana was criticized for its level of centralization. If anything, many validators were run by Solana Labs or entities closely associated with them. Accordingly, this concentration of power raises concerns about potential manipulation and network vulnerability.
So, in 2021 and 2022, when there were multiple network outages, disrupting network operations and frustrating users, it was obvious to Solana developers that something needed to be done for a more robust and decentralized infrastructure.
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Will SOL Price Benefit From A Faster, Efficient, And Reliable Network?
This is when Firedancer was conceived. Work has been ongoing, and optimism is high with the Firedancer website’s release. When Firedancer goes live later this year, Solana will be more efficient, scalable, and faster. Additionally, the network will be more secure, considering Firedancer’s unique architecture.
Protocol deployers need a secure, scalable, and robust network, especially now that Solana is emerging as a home for meme coins. A stable decentralized network will catalyze adoption, giving Solana an edge over Ethereum.
(SOLUSDT)
Whether this will also push SOL prices higher remains to be seen. Currently, the coin has resistance at $160 and support at $120.
It is down -30% from 2024 highs of around $200. Even so, the coin is one of the top performers in the top 10 over the last year.
EXPLORE: PEPE Price Analysis: As PEPE Leads Meme Coin Resurgence, Is 99BTC Next to Explode?
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
