Solana Network Performance Improves Throughout 1H 2023

Network logs 100% uptime in Q2, 2023, based on updated Solana Network Performance Report

SAN FRANCISCO, July 20, 2023 /PRNewswire/ -- The Solana network had 100% uptime in the second quarter of this year, one of several positive advancements in performance stemming from improvements to the Solana network, as detailed in the latest Network Performance Report issued today by the Solana Foundation.

"Solana's advantages in terms of speed, efficiency and composability are really shining brightly right now," said Dan Albert, Executive Director, Solana Foundation. "The ecosystem is resilient and the dedication to innovating on Solana is contributing to exciting developments across a number of fronts, including DeFi, NFTs, network infrastructure, decentralized physical infrastructure, and more." 

The updated report by the Solana Foundation details improvements throughout the first half of the year to the Solana network as measured by several metrics, including the ratio of non-voting-to-voting transactions, block production time, and average and max transactions per second. The report also details the latest metrics regarding the decentralization of the Solana network, which showed that Solana continues to be run by a robust group of independent validators around the world and with a large number of open-source developers building applications on Solana.

"Solana is one of the world's most decentralized proof-of-stake blockchains, and one of the most developed on," Albert said. "The first half of 2023 presented a number of challenges for the network but the network performed very well and more advancements in the ecosystem are on the way that will further distinguish Solana as the leading decentralized smart contract blockchain."

The Solana Foundation uses four key metrics to report decentralization and vitality of the network: block-producing validators (1,850), RPC nodes (925), the Nakamoto Coefficient (33), and active open-source developers building on the network (2,053) ? all of which compare favorably to other smart contract blockchains.

Stability and reliability were focal points for network improvements during the first half of the year. Several improvements to the core network software upgrade process were implemented following an outage on Feb. 25, including bringing additional external developers and auditors into the release process and improving the server restart process. The network has experienced 100% uptime since then and successfully transitioned network version 1.14 to mainnet.

New innovations also debuted on Solana during recent months, such as state compression, a way to store data directly on-chain that vastly reduces costs and opens up new use cases only possible on Solana. Minting 100 million NFTs on Solana now costs as little as 50 SOL.

The full Solana Network Performance Report can be accessed here.

About Solana
Solana is a blockchain built for mass adoption. It's a high performance network that is utilized for a range of use cases, including finance, NFTs, payments, and gaming. Solana operates as a single global state machine, and is open, interoperable and decentralized. For more information, please visit https://solana.com.

About Solana Labs
Solana Labs is a technology company, a developer of web3 projects, a creator of open source software, and the author and publisher of a Solana validator client. Solana Labs is based in San Francisco. For more information, please visit https://solanalabs.com/.

About Solana Foundation
The Solana Foundation is a non-profit foundation based in Zug, Switzerland, dedicated to the decentralization, adoption, and security of the Solana network. For more information, please visit https://solana.org/.

Media Contact
Arielle Pennington, Head of Communications, Solana Foundation
press@solana.org

SOURCE Solana Foundation