Amidst the failed deals, Solana passed a new proposal.

Amid several failed transactions and efforts to fix the issue, Austin Federa, chief strategy officer of the Solana Foundation, announced the passing of a management proposal called “Timely Vote Credit.”

With an impressive 98% support vote from 53% of validators, the proposal seeks to increase the speed of transaction verifications.

How does Solana's “in-season voice credits” proposal work?

Zantetsu of Solana's verifier, Shinobi Systems, designed the “Timely Voice Credits” proposal. The proposal introduces changes to the method used to calculate vote credits earned through affirmative votes.

The current Solana (SOL) validator reward system is one vote credit for each “rooted” slot (completely verified block), regardless of the duration of their vote. However, such a mechanism allows loopholes where validators can delay voting without penalty.

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If applicable, the “On-Time Credits” proposal will award credits based on the “Late” vote. Latency refers to the delay between creating a slot and the arrival of a confirmation tone. Validators who vote faster get more credits, which discourages deliberate delays.

Moreover, the proposal includes a built-in three-site grace period. This is to level the playing field for authenticators located far from network hubs.

Despite the enthusiasm, this proposal still has to answer questions about the impact on the speed of transaction confirmation. However, so far, Federa has not provided an explanation on how the change will affect the transaction speed in Solana.

Coupled with the developers' promise to fix failed marketing issues, the implementation of this proposal could provide a comprehensive solution to the network's challenges.

On April 5, 75% of Solana network transactions failed, according to data from Dune's dashboard. Despite attempts, users have reported delays, error messages, and transaction failures. However, the percentage has dropped to 57.41 percent by the time of writing this report.

Mert Mumtaz, CEO of Helius Labs – a leading RPC and API platform in Solana, explained that the network's problems are based on specific implementation errors rather than inherent design flaws. Specifically, Mumtaz mentioned that the problem was caused by a flaw in the QUIC networking protocol.

Solana Labs founder Anatoly Yakovenko commented on the situation.

“Dealing with congestion bugs is much more interesting than a total failure of life. The latter is one and done, the error is identified and fixed and the chain continues. The former should be fully tested for releases and pipelines.

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Developers have set a target of April 15 to implement a fix for an “implementation bug” believed to be the root cause of the crash.

Despite its recent woes, Solana Native Token (SOL) 2024 had an amazing run. Starting the year at $101.33, SOL briefly crossed $200 before settling around $172. According to data from CoinGecko, the current price of SOL has decreased by 8.8% in the last week.