Coinbase, a leading US crypto exchange, has enacted a major infrastructure upgrade to improve its Solana support.
New Upgrades at Coinbase
Coinbase announced new upgrades to scale Solana via its official X account. A key benefit is the ability to process transactions asynchronously, increasing block processing throughput by at least five times. This upgrade also ensures better liquidity, resilience, and operational controls on the Coinbase platform.
Historical Issues with Solana
The Coinbase upgrade marks a significant milestone for the Solana blockchain, which has often faced network challenges. Throughout its history, Solana has experienced multiple outages, including in January and February this year, when spikes in transaction volumes led to network congestion. Cardano founder Charles Hoskinson commented on these issues, suggesting improvements aimed at preventing such downtimes.
New Innovations in the Solana Ecosystem
Recently, the Solana ecosystem introduced several innovations, including the Open Relayer, an open-sourced protocol by OpenZeppelin, providing users new capabilities. One of the latest solutions is 'Confidential Balances', enabling users to shield their balances and conduct confidential transactions. These developments have captured investor attention, leading to a 7.7% increase in SOL's price over the past 24 hours.
The updates and innovations at Coinbase and within the Solana ecosystem aim to enhance reliability and performance, crucial for the ongoing advancement of blockchain technologies.
