Solana Launches Major Network Upgrade with Faster Settlement System
Solana's new voting system aims to significantly reduce transaction settlement times.
Solana's new voting system aims to significantly reduce transaction settlement times. Solana (SOL) is trading at $104.56, down 0.3% since this brief published. This is an original TLT brief based on reporting by CoinDesk, with live market data added, as of Thu, 22 Oct 2026 07:00:03 UTC.
The upgrade could enhance Solana's competitiveness by drastically improving transaction speeds, making it more attractive for DeFi and payments use cases.
- Solana's new voting system targets 150ms settlement times.
- Users can retain existing wallets during the transition.
- The upgrade aims to improve network efficiency and user experience.
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- Solana Launches Major Network Upgrade with Faster Settlement System — this brief
Solana has implemented a new voting system as part of a major network upgrade, marking its most significant change since 2020. This development aims to significantly improve the network's transaction settlement process.
The new system is designed to achieve settlement in about 150 milliseconds, which could substantially reduce wait times for payments and deposits. This improvement is expected to enhance the network's efficiency and make it more competitive in the fast-paced world of decentralized finance (DeFi) and digital payments.
Users will benefit from the upgrade as they can continue using their existing wallets, ensuring a smooth transition to the new system. This compatibility is crucial for maintaining user trust and minimizing disruption during the rollout.
The upgrade comes at a time when Solana's native token, SOL, is trading at $104.88, showing a slight 24-hour decline of 0.70% but a positive 7-day performance of +1.05%. The overall crypto market remains relatively flat, with a total market cap of $2.84 trillion and a Fear & Greed Index of 68, indicating a 'Greed' sentiment.
The success of this upgrade could position Solana as a more attractive platform for developers and users seeking faster and more efficient blockchain solutions. It will be important to monitor user feedback and network performance in the coming weeks to assess the full impact of the changes.
Since this brief published about 2 hours ago, Solana (SOL) has moved from $104.88 to $104.56 — -0.31%.
The chart plots SOL's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 SOL ≈ ₦142,534.1 (about $104.56), down 1.3% over 24 hours. The naira itself trades about 2.2% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 22, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Solana Launches Major Network Upgrade with Faster Settlement — questions & answers
What is the main benefit of Solana's new voting system?
The main benefit is faster transaction settlement, targeting around 150 milliseconds.
Do users need to change their wallets for the upgrade?
No, users can keep their existing wallets during the transition.
How does this upgrade affect Solana's market position?
The upgrade aims to improve Solana's competitiveness by enhancing network efficiency and user experience.
How much is 1 Solana worth in naira today?
About ₦142,534.1 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $104.56. The naira price moves with both SOL's US-dollar price and the USDT/NGN rate; use our Solana in naira page for any amount.
Has Solana's price moved since this brief was published?
SOL is down 0.31% since this brief first published — trading at $104.56 now versus $104.88 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CoinDesk. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.