The devs released a new update for the Solana network, to overcome the network outage issues.
Solana is a popular Proof-of-stake (PoS) consensus-based blockchain network, which is known for its high scalability & efficient transactions because of its unique Proof-of-history protocol, which allows the Solana network to hit scalability up to 50k TPS.
On 19 November, Anatoly Yakovenko, co-founder of Solana Labs, shared the new Solana network update 1.13.5 and urged all the validators to go with the new update.
At this present time, only 49.5% of validators are running nodes on the latest release, while others are using the old release 1.13.4
It is expected that the new update will fix all the network outage issues, which were faced by the Solana network in the past several months.
Sol price action
Sol is the native token of the Solana blockchain network and the current price of the Sol token is $11.83 and this price is 57% down over the last 30 days’ trade price.
This sudden & significant downfall in the price of Sol token happened because of the downfall of FTX, FTXus & Alameda Research-like companies. Alameda was one of the biggest investors in the Solana project & bankruptcy filing by this company imposed high sell pressure on Sol’s token market.
Otherside, FTX token, a native token of bankrupt FTX crypto exchange, faced a very big downfall. Current trade price of FTX is $1.31 and this price is 94% down over the 30 days trade price.