Coinbase Reveals Efforts To Make Its Solana Infrastructure Faster, Here’s All – Crypto News – Crypto News
Connect with us

Technology

Coinbase Reveals Efforts To Make Its Solana Infrastructure Faster, Here’s All – Crypto News

Published

7 months ago

on

Coinbase Reveals Efforts To Make Its Solana Infrastructure Faster, Here's All

Coinbase exchange has made significant improvements to its Solana network infrastructure to enhance speed, resiliency, and scalability. The exchange further said that certain technical improvements have been implemented that have boosted performance numbers for Solana transactions on the exchange.

Coinbase doubles down on Solana ecosystem commitment

As per Coinbase’s announcement, the enhancements comprise asynchronously processing transactions. This has seen block processing throughput increase five times. The company has also introduced bare metal machines that have seen RPC (Remote Procedure Call) performance improve four times. These enhancements come with better failover mechanisms, liquidity optimizations, and enhanced operating controls to enhance the overall system resilience.

Coinbase upgraded its infrastructure, which means it wants to improve its Solana features as more and more people use the blockchain. The exchange highlighted that these technology upgrades will enable it to process transactions more effectively and dependably for senders and receivers of SOL and Solana tokens.

Coinbase said that this work is part of their dedication to achieving the best performance for Solana transactions. The company said that they will keep working on it and plan to invest more in Solana infrastructure to keep up with the growing demand as the network grows.

The upgrades are happening now because more institutional investors and developers are becoming interested in Solana. Coinbase has changed how it manages Solana’s fast blockchain by processing transactions at the same time. The announcement comes as Canada is set to approve multiple spot Solana ETFs this week.

SOL price shows bullish indicators amid institutional interest

As Coinbase improves its technical infrastructure for Solana, analysts are noting positive price action for SOL. Analyst Andrew Griffiths has identified several bullish technical indicators in his recent analysis of Solana’s price movements.

According to Griffiths, Solana has broken out of a descending parallel channel on the daily chart, retouched the trendline, and begun moving upward. The price has remained above the 21-day exponential moving average (EMA) for several days and remains above solid support around the $117 level.

Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are still in a bearish trend on daily charts but are moving closer to the positive axis.

MACD and RSI are both bullish on the 4-hour time frame. Price is over the 22-period EMA, and the 21-period EMA is over the 55-period EMA. The 200-period EMA has been stable with current price action, and current candles have closed over all EMAs.

Institutional interest in SOL also appears to be growing, with analyst Gordon reporting that real estate firm Janover has purchased an additional 80,567 SOL worth approximately $10.5 million. This acquisition brings Janover’s total Solana holdings to 163,651 SOL in its treasury.

The post Coinbase Reveals Efforts To Make Its Solana Infrastructure Faster, Here’s All appeared first on CoinGape.

Related Topics:
Continue Reading

Trending