Coinbase, the leading cryptocurrency exchange in the United States, has significantly upgraded its Solana infrastructure in response to growing user concerns. These upgrades aim to deliver faster transaction speeds, improved liquidity access, and enhanced system reliability.
In a recent update, Coinbase stated that the changes are part of a broader initiative to maintain high-performance standards as the Solana ecosystem scales. The platform emphasized its dedication to offering users seamless interactions with the network, even during periods of increased blockchain activity.
โThese upgrades support faster and more dependable Solana transactions, and reflect our ongoing investment in performance and scalability,โ Coinbase noted on social media platform X.
Fivefold Throughput Gains and System Resilience
Coinbase outlined several specific enhancements, including asynchronous transaction processing, which has increased block processing throughput five times. Additionally, remote procedure call (RPC) performance has been improved fourfold, while new failover systems and better liquidity optimization ensure greater resilience and responsiveness during network congestion.
The improvements follow a promise made in January, when users reported frequent issues with SOL deposits and withdrawals, sometimes experiencing delays lasting several hours.
At that time, Coinbase acknowledged the problem, stating:
โSolana transaction activity has reached unprecedented levels, and our systems were unable to process transactions fast enough to keep up.โ
Memecoins Drive Solana Activity Surge
Much of the strain on the Solana blockchain stemmed from a massive surge in memecoin trading. Transaction volumes exploded earlier this year, especially after political figures such as the U.S. President and First Lady issued memecoins on Solana ahead of Inauguration Day.
However, the memecoin mania didnโt start there. Even before the political token buzz, Solana had been experiencing record-breaking on-chain volumes. On January 5, the network processed an all-time high of $3.79 billion in transaction volume, with approximately 4.5 million active addresses participating.
Solana Remains a Top Crypto Asset
Despite past technical bottlenecks, Solana has maintained its strong position in the market. With a market cap of $69.4 billion, it ranks as the third-largest cryptocurrency. As of the latest data, SOL is trading at $134.44, with a 24-hour trading volume nearing $5 billion, reflecting strong investor interest and network engagement.