Solana Network Advances: 1,504 TPS and New Partnerships

• Solana achieves 1,504 TPS, resolving network congestion and enhancing transaction speed.
• Argentina partners with Solana to launch “Forma,” boosting digital asset adoption.

Aiming to close up the week with noteworthy non-technical advancements, Solana (SOL), a well-known Layer-1 blockchain, has made major progress in their network development. The network has shown amazing development in its transaction processing capacity, according to a SolanaFloor tweet.

JUST IN:@solana's True TPS surpasses 1000 tx/sec. pic.twitter.com/uj5iereuWQ

— SolanaFloor (@SolanaFloor) July 12, 2024

Solana Achieves 1,504 TPS and Resolves Network Congestion Issues 

Solana’s True transaction per second (TPS) right now has exceeded 1,000, coming out to be a really amazing 1,504 TPS. In terms of TPS, Solana is 46 times quicker than Ethereum; this value makes.

Solana has also fixed its network congestion problems; today it often runs 2,700 TPS with transaction confirmation times down to less than two seconds.

Our earlier news reported on Argentina’s August “Forma” launch in collaboration with Solana. This program seeks to create a Solana Economic Zone inside the nation and increase acceptance of digital assets.

The cooperation is likely to open doors for more blockchain integration inside Argentina, highlighting Solana’s growing worldwide impact.

Meanwhile, CNF highlighted a few days ago that on June 10, $250 million worth of USDC was created on the Solana blockchain, therefore providing fresh liquidity to boost market activity.

This follows Solana’s inclusion of Circle’s Cross-Chain Transfer Protocol (CCTP), therefore showcasing the network’s dedication to increasing interoperability and liquidity in the blockchain ecosystem.

Solana’s native coin, SOL, is trading about $145.27 at the time of writing; it has increased by 4.54% over the last 24 hours and by 3.99% over the last seven days. This increasing trend shows increasing faith in Solana’s capacity and future for more developments.

These advances highlight Solana’s superior blockchain platform as it keeps innovating and improving its network.

Solana is positioned to draw additional users and partners via constant improvements in transaction speed, scalability, and liquidity, therefore fueling its expansion and acceptance in the competitive blockchain market.