Because excellentCEO of Solana’s development platform Helius Labs, recently shared “big news” that offers a bullish outlook for the future. Solana ecosystem. This development could also positively impact Solana’s price, which has been on a downward trend recently.
A new dawn for Solana
Excellent mentioned in X’s (formerly Twitter) post that “ZK pressureIt is served directly on the Solana network without the need for this Layer 2 networks. He claimed that this changes everything and every impression one has about Solana and the expansion of the first layer networks. He also explained excellently what ZK compression really is.
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He reported that they were able to compress on-chain state to obtain “10,000-fold improvements,” which he claimed brought them one step closer to building a financial computer. That means it, he added Developers They can now build and scale anything they want directly Solana Without having to leave it.”
Mumtaz also gave an example to highlight how important this development is in terms of reducing transaction costs. He claimed that it would typically cost upwards of $260,000 for a project to perform an airdrop for 1 million users. However, the ZK squeeze makes it much cheaper now as only $50 will now be needed to drop these tokens to these 1 million users.
Furthermore, on the technical side, Excellent highlighted how Solana developers welcome this development. He noted that customizing accounts, paying rent, and scaling with users was a “huge hurdle” for them, but that has now been fixed with ZK Compression.
excellent Also highlight how this opens the door for you Solana To enjoy significant growth, noting that country growth has been a major issue for blockchain scaling. However, this is set to change now since ZK compression makes it possible to compress all Solana instances. “This has additional implications for hardware requirements and overall performance of the entire network,” the Helius CEO added.
Mumtaz believes Solana has a “real opportunity in the cryptocurrency space” when this ZK squeeze is combined with “a fire dancer, multiple concurrent leaders, asynchronous execution, and an ecosystem of thousands of insanely cracking developers.”
Institutional investors also believe in Solana’s potential
Follows the introduction of ZK compression on Solana Latest prediction Made by Pantera Capital Analysts that Solana It will steal a significant portion of the cryptocurrency market from Ethereum in terms of blockchain developer activity. These analysts highlighted Solana’s “monolithic architecture,” which enables multiple use cases and user experiences.
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They added that Solana’s technology enables “compelling applications” and gave examples of cryptocurrency projects that have leveraged Solana’s capabilities, including the DRiP non-fungible exchange (NFT) platform.
Asset manager Franklin Templeton also I expected earlier That Solana will become the largest cryptocurrency token by market capitalization thanks to the network’s “superior technology.” They claimed that Solana will host sectors that will drive the next wave of cryptocurrency adoption and also hinted at to update One reason they are optimistic about Solana.
Featured image created with Dall.E, chart from Tradingview.com