The Solana Blockchain Network Announces Firedancer Upgrade
The Solana blockchain team has revealed its plans to launch the full Firedancer upgrade in 2025 after releasing scaled-down versions. This upgrade is aimed at enhancing the reliability and scalability of the Solana network, a critical requirement due to the escalating activity associated with decentralized infrastructure protocols.
Decentralized Physical Infrastructure Networks on Solana
Kulina Nimkara, a senior executive at the Solana Foundation, highlighted the rise of DePIN projects on the network that leverage blockchain technology to manage physical infrastructure. DePIN protocols enable the integration of blockchain into sectors like energy, GPU networks, and data collection.
Nimkara pointed out that several DePIN protocols on Solana incentivize users to install browser extensions to collect internet data used for training large language models. Notable projects include Helium, Hivemapper, and Render.
For example, in the Hivemapper project, participants use cameras to capture street videos and create maps, earning the project’s native tokens for their contributions.
Sol Token Performance
Currently, the Solana token (SOL) holds the fifth rank in market capitalization among cryptocurrencies, valued at over $74 billion. The token is priced at $165.4, reflecting a 1.5% increase in the last 24 hours. However, it has experienced a 6.9% decrease over the past week, despite a 63% surge since the beginning of the year.
The Firedancer Update: Improving Solana Network Performance
The upcoming Firedancer update is expected to boost the performance of the Solana network, enhancing efficiency and its capacity to manage increased loads. This upgrade is essential to support the expanding decentralized projects and applications within the ecosystem.
