Solana testnet reports 13K TPS on stress test, what does this mean for the future of SOL?

Solana (SOL/USD) is a blockchain network that features its own native cryptocurrency known as the SOL token.

Throughout its ecosystem, there are a plethora of different decentralized applications (dApps) as well as smart contracts alongside non-fungible tokens (NFTs).

One of the key points of appeal for this cryptocurrency was its support for high throughput (transactions per second), where Solana can theoretically process 710,000 TPS.

Solana 13,000 TPS testnet checkpoint as a catalyst for growth

The Layer–1 blockchain project Solana can, at a later point in time, process around 13,000 transactions per second (TPS) throughout its future releases.

According to an image that was posted on Twitter by the Solana Labs co-founder, Anatoly Yakovenko, one of the more recent Solana releases on the testnet reached that specific milestone in terms of TPS.

A stress test is essentially a procedure that determines the extent to which a computer program or network can remain effective throughout its peak usage.

In the case of Solana, this involved simulating transactions between addresses as a means of determining the number of transactions that the network can process without going offline.

The Solana Testnet in question was released in version 1.11, which is still under development. 

As a point of reference, the Solana network, based on data from the Solana Explorer, can, on average, process around 3,000 to 4,000 TPS.

By reaching 13,000 TPS, we can expect the Solana network to see a lot more appeal from developers, increasing the utility and value of the SOL cryptocurrency.

Should you buy Solana (SOL)?

On August 29, 2022, Solana (SOL) had a value of $30.51.

The all-time high point of value for the Solana (SOL) cryptocurrency was reached on November 6, 2021, at a value of $259.96.

When we go over the cryptocurrency’s performance throughout the previous month, Solana (SOL) had its lowest point of value on July 1 at $32.06.

Its highest point of value was on July 19 at $46.77. Here we can see that the cryptocurrency increased in value by $14.71 or by 46%. 

With this in mind, investors might want to buy SOL as it can climb to $50 by the end of September 2022.

The post Solana testnet reports 13K TPS on stress test, what does this mean for the future of SOL? appeared first on Invezz.

from Cryptocurrency – Invezz