Solana is set to launch the Alpenglow update on its mainnet on October 21, with the aim of reducing transaction completion times by up to 40-fold. This update, coming on the heels of technical challenges encountered during testing, could significantly impact decentralized exchanges and stablecoin payments. Meanwhile, Ripple Prime has launched a 24-hour swap service covering stock, commodity, and currency markets.
Solana Targets 150 Millisecond Settlements
The Alpenglow update seeks to cut Solana’s transaction settlement time from approximately 6 seconds to a mere 150 milliseconds, or 0.15 seconds. Central to this update is a shift in how validators approve transactions and reach consensus.
In the current system, validators directly record their votes onto the blockchain, with transactions finalizing only once sufficient consensus is achieved. Alpenglow moves the voting process off-chain and compiles results into certificates, aiming for transactions to finalize after just one or two consensus rounds.
This enhancement may reduce delays on decentralized exchanges, especially during periods of rapid price movements. It could also improve the efficiency of stablecoin payments. If successful, Alpenglow might bring Solana’s transaction times closer to those of centralized exchanges and card payments.
In addition to reduced transaction times, validator costs are expected to drop. Currently, voting fees amount to about 2 SOL per day, but Alpenglow will eliminate these fees, introducing instead a fixed participation fee of 0.8 SOL for each approximately 24-hour epoch. This is projected to reduce related costs by about 60%.
Ripple Prime Unveils 24-Hour Trading for Institutions
According to a report by Odaily on October 21, Ripple’s Ripple Prime has initiated 24-hour swap transactions across over 100 markets for institutional clients. The service encompasses equities, commodities, and currencies, with Ripple’s USD-pegged stablecoin, RLUSD, available as collateral.
The swaps utilize perpetual futures contracts listed on the Trade.xyz platform within the Hyperliquid ecosystem, permitting institutional clients to trade assets like commodities after traditional finance markets close.
HSBC views the service as an “evolution rather than a revolution.” Dara Maher, head of research at the bank, noted that limited liquidity could restrict significant trades. According to Maher, until order books deepen, activities may concentrate on basis trades by market makers, proprietary trading firms, and hedge funds leveraging price differentials.
Monero’s Technical Outlook
Among the technical analysis highlights, Peter Brandt’s commentary on Monero has garnered attention. The trader and chart analyst, known for accurately predicting Bitcoin‘s 2018 crash, likened the recent monthly XMR chart to silver’s trajectory before its sharp rise to $125, suggesting a similar potential for Monero’s rise.
The shared chart reveals a pattern where resistance between approximately $500 and $600 is repeatedly tested and breached after a prolonged consolidation. Moving averages are currently strengthening.
Flop Labs Announces Airdrop
In new project announcements, Flop Labs’ testnet and airdrop schedule took the spotlight. CEO Arthur Hayes, also the investment director at Maelstrom, stated on October 21 via X that both initiatives will commence in the coming weeks. Hayes warned against scams, clarifying that no FLOP token exists yet, and any claims to the contrary are fraudulent.
