To wrap up the week with remarkable non-technical advancements, Solana (SOL), a well-known Layer-1 blockchain, has made significant progress in the development of its network. The network has shown an astonishing improvement in its transaction processing capacity, according to a tweet from SolanaFloor.
Solana Reaches 1,504 TPS and Resolves Network Overload Issues
Solana’s true transaction per second (TPS) has surpassed 1,000, reaching an impressive 1,504 TPS. In terms of TPS, Solana is 46 times faster than Ethereum, which is remarkable.
Solana has also resolved its network overload issues; today it often runs at 2,700 TPS with transaction confirmation times of less than two seconds.
In our earlier news, we reported on Argentina’s “Forma” launch in August in collaboration with Solana. This program aims to create a Solana economic zone within the country and increase the adoption of digital assets.
The collaboration is likely to open the doors for further blockchain integration in Argentina and highlight Solana’s growing global influence.
On June 10, USDC worth $250 million was created on the Solana blockchain, providing new liquidity for more market activities, CNF reported.
This follows the integration of Circle's Cross-Chain Transfer Protocol (CCTP) into Solana, underscoring the network's commitment to enhancing interoperability and liquidity within the blockchain ecosystem.
SOL, Solana’s native coin, is trading at $145.27 at the time of writing; it has increased by 4.54% in the last 24 hours and by 3.99% in the last seven days. This rising trend shows the growing confidence in Solana’s capacity and future for further developments.
These advancements highlight Solana's superior blockchain platform, which continually renews and improves its network.
Through constant improvements in transaction speed, scalability, and liquidity, Solana is poised to attract additional customers and partners, thereby fostering its expansion and adoption in the competitive blockchain market.
