Solana sets Sept. 9 date for Transaction V1 as rent cuts begin

2 min read
Solana sets Sept. 9 date for Transaction V1 as rent cuts begin
PrimeXBT Editorial Team
Reviewed by PrimeXBT

Topics in article

Solana will activate Transaction V1 on September 9, raising the maximum transaction size to 4,096 bytes. The change arrives alongside the first of five planned rent-reduction steps starting the week of August 31, while further slot-time cuts and the Alpenglow consensus upgrade follow on separate schedules.

Solana Foundation Vice President of Technology Jacob Creech outlined a cluster of upcoming network upgrades on Aug. 30, setting Sept. 9 as the activation date for Transaction V1. The first stage of a separate rent reduction begins the same week, starting Aug. 31.

Transaction V1 lifts the size limit to 4,096 bytes

Transaction V1 will raise Solana's maximum serialized transaction size from 1,232 bytes to 4,096 bytes, about 3.3 times the existing limit. The larger format could support transactions carrying zero-knowledge proofs, complex multisignature instructions and other data-heavy operations.

Developers must opt into the V1 format, so legacy and version-zero transactions remain compatible. Transaction V1 will not support address lookup tables, meaning applications must choose which format suits each transaction, and wallets and other infrastructure must handle the larger data payloads.

Rent reduction starts with one of five steps

The first rent-reduction stage does not deliver the full target immediately. Solana plans five stages that would eventually lower the rent calculation from 6,960 lamports per byte to 696 lamports per byte, cutting the SOL that developers must lock when creating token accounts, program accounts and other onchain state.

Slot times and Alpenglow follow separate paths

Solana has already cut its target slot time to 350 milliseconds, down from 400 milliseconds, with further stages planned at 300, 250 and eventually 200 milliseconds. Creech did not give dates for those remaining steps, and each requires its own feature activation.

Alpenglow, Solana's proposed consensus mechanism redesign, remains targeted for October, with Solana aiming for roughly 150-millisecond finality after mainnet activation. According to crypto.news: "There are a lot of major changes happening soon", Creech wrote, adding that Transaction V1, the rent cut and the slot-time reductions follow separate activation processes and will not trigger one another automatically.

Source: crypto.news

Trading involves risk.

Most traded markets

BTC / USD
+1.13% 78,485.9
XAU / USD.24
+0.38% 4,471.77
ETH / USD
+1.12% 2,463.79
SOL / USD
+1.38% 105.25
DOGE / USD
+0.32% 0.08495
BNB / USD
+0.84% 694.93
View all markets

Author

PrimeXBT
Our Editorial Team consists of leading experts with a proven record in the fields of trading, cryptocurrencies, blockchain and finance. We thoroughly research the sources of information in order to provide readers with quality content that serves edu...
Read author’s articles
Alert Triangle Risk Disclaimer
Disclaimer: Some past publications may be outdated. We recommend following our news to stay up to date with the latest information. For any questions, feel free to contact our support team via the chat below.
The content provided here is for informational purposes only. It is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results.
The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.

Today in markets

Browse Crypto News

Register Now

Trading involves risk

Get started in minutes

Our clients love how fast and simple our sign-up is. It takes just a few minutes to get started!

Get Started Get Started
Get started in minutes

Need Help?

Risk Warning:
Trading in leveraged products carries a high level of risk and may not be suitable for all investors.