The state of Solana : Will the layer- 1 protocol rise again in 2023?

 The state of Solana: Will the layer- 1 protocol rise again in 2023?

Despite the latest FTX-related crisis, Solana still has what it takes to win the layer- 1 race, according to the head of strategy at the Solana Foundation, Austin Federa.

About two months after the collapse of FTX, the Solana network is stronger than ever, according to Austin Federa, head of strategy and communications at the Solana Foundation.

Federa defines the recent
SOL

the token price crash was a short-term market reaction to the supposed link between Solana and the defunct crypto exchange FTX. While FTX founder Sam Bankman-Fried was invested in many Solana-based projects, Federa pointed out that he has no influence over the network's operations and fundamentals.

"The outside perception was that there was a very close relationship between the Solana network and FTX, which wasn't the case," Federa told Cointelegraph in a recent interview.

According to a recent report by Electric Capital, the Solana network has seen a record-breaking influx of developers contributing to the ecosystem.

​Federa says developers are increasingly relying on the Solana network for its key value proposition: cheap and fast transactions.

"They can develop new types of products and services that aren't tied to transactions," he explained.

When asked about the problem of outages that have plagued the network over the past year, Federa mentioned a series of technical upgrades that are expected to improve the network's stability in the coming months. One of these is the recent introduction of priority fees, which should reduce transaction spam on the network.

Federa also mentioned Firedancer, a new validator client that is expected to go live on the Solana mainnet by the end of 2023.

To learn more about how Solana is recovering from the FTX collapse.