In response to persistent network congestion caused by spam bots and memecoin trading, Solana has unveiled an update aimed at resolving these pressing issues. The Solana team proposes the implementation of a mandatory network update to mitigate the congestion challenges plaguing the protocol.

For seamless usage, Mainnet Beta authenticators are encouraged to adopt the v1.17.31 release, equipped with enhancements tailored to alleviate the ongoing congestion on the Solana Network. These enhancements encompass five modifications to the authenticator stack nodes responsible for the operation and utilization of the Solana blockchain.

Despite its early success story in the crypto landscape, with its token witnessing a staggering 1,500% surge following the FTX incident, Solana has come under scrutiny due to persistent congestion issues. While initially lauded for its swift and cost-effective transactions, concerns have arisen regarding the network's congestion woes.

Following the update, SOL experienced a notable 6% increase, propelling the token to $151. However, Solana's token witnessed a $17 decline in the preceding week and a substantial 22% decrease over the last month, in contrast to Bitcoin's 9% and 3% declines, respectively.

Positioned as a precursor to v1.18, Version 1.17.31 is presently undergoing rigorous testing on Solana's testnet, with its official release slated for mid-April. Noteworthy among its features is the introduction of a transaction scheduler, empowering authenticators to efficiently populate blocks.

The first quarter of 2024 witnessed a surge in traffic on Solana, predominantly driven by memecoins and spam bots. On April 4th alone, a staggering 75% of transactions on Solana were rendered unsuccessful due to bots scouring for arbitrage opportunities.

According to Austin Federa, Head of Strategy at Solana Foundation, developers have been diligently laboring to fortify Solana's networking stack to accommodate unprecedented demands. This concerted effort underscores Solana's commitment to addressing the challenges posed by network congestion, ensuring a smoother and more efficient experience for users.