Coinbase Exchange Implements Major Upgrade to Scale Solana

These improvements enable faster and more reliable sending and receiving of Solana transactions on Coinbase.

The upgrade also reinforces Coinbases commitment to providing industry-leading performance and reliability for its users.

In the post, Coinbase assured users it would continue investing in its Solana infrastructure. The platform seeks to meet demand as Solana scales into the future.

The Solana community received the news with excitement. Many are watching to see how this will impact Solanas retail demand.

Solana and Historic Outages

The Coinbase upgrade is a huge milestone for the Solana blockchain, which has often faced network downtime.

During these periods, the whole blockchain sometimes stays inactive for hours. On other occasions, it is usually a specific DApp that goes offline or halt block production.

Solana blockchain has experienced these technical challenges and outages since it launched in 2020.

Several of these instances were reported in January and February this year.

In January, the launch of TRUMP and MELANIA on the Solana blockchain triggered a surge in transaction volume, which eventually resulted in network congestion.

The network faced outages while focusing on scalability and high transaction speed.

For a blockchain with the size and volume of Solana, such halts could result in hefty losses for users. It also raises questions about the networks reliability and adherence to the ethos of decentralization.

Cardano founder Charles gave comments following the Solana downtime in January.

Hoskinson proposed Cardanos Leois upgrade and the Hydra scaling solution to prevent related network downtime.

More Innovations on Solana

The Solana ecosystem recently introduced a series of amendments, upgrades, and integrations.

One of Solanas latest innovations is the Open Relayer, an open-sourced protocol by OpenZeppelin still in alpha.

This integration gives platform users new capabilities, like accepting any token for fees in the app. Additionally, it allows users to access transaction sponsorship without requiring SOL tokens.

In addition to the Open Relayers, Solana developers released an innovation called “Confidential Balances.”

This new solution covers a group of Zero-Knowledge (ZK) powered token extensions.

It is designed to showcase the capabilities of confidential transactions on the network to attract more institutional activity.

Users can deploy the solution to shield their balances, transfer tokens, and mint or burn assets.

Overall, these developments have sparked investors attention on the Solana blockchain.

This is evident by the spike in the price of SOL price over the past 24 hours. SOL experienced a 7.7% increase, pushing the coin to $135.6.