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Will Solana’s [SOL] new validator client cement it as the ‘Ethereum killer’?
Solana got into a partnership with Web3 infrastructure developer Jump Crypto in August 2022. This was to create a new validator client Firedancer, separate from the one originally built by Solana Labs. With the ambition of boosting network throughput, the project delivered good results in initial performance tests, hitting 1 million transactions per second .
Among other potential benefits of Firedancer, the first and foremost was reducing Solana’s latency times significantly. This made the network conducive for decentralized finance applications and attracting high-frequency traders. Messari stated that Solana’s latency times might be reduced to 400-500 milliseconds, putting it on par with centralized exchanges .
At the time of writing though, the ‘Ethereum killer’ processed an average of 4,000 TPS over the last seven days, per data from Solscan. The total transaction fees paid to validators to secure the network was 39.256 in the last 24 hours.
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