Solana has initiated its block time reduction, completing the first step from 400 to 200 milliseconds at epoch 1020. The upgrade, rolled out in four phases of 50 milliseconds each, will increase block production to 300 per minute from 144 currently. The SOL token rose 5.8% to trade around $89, giving it a market cap of $52.3 billion and placing it seventh worldwide. Nearly 690 validators representing 435 million SOL in stake are participating in the upgrade, with 96.7% of stake already running the required software. The rollout remains conditional on validators maintaining an acceptable block skip rate, a challenge as Solana nearly halted in August after a routing fault knocked 28.83% of staked SOL offline.
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