Blockchain Solana (SOL) activates most crucial upgrade in years; Details

The Solana (SOL) blockchain recently activated a very important update within its ecosystem. Solana has activated ZK Compression technology on its mainnet. The new feature on the blockchain is expected to change how Solana dApps scale, in addition to greatly reducing computational prices.

Specifically, ZK Compression technology is a very important upgrade to the scale and performance metrics of the Solana blockchain. Commenting on the new feature, Mert Mumtaz, co-founder and CEO of Helius, a Solana infrastructure application, highlighted his estimate that the technology could bring “10,000x scale improvements” to the network’s L1 design.

“The big news is here today, we are introducing ZK compression for Solana, directly on L1 – without the need for L2s, this changes everything you thought you knew about Solana and L1s TL scaling; TL;DR – we compress the onchain state to achieve 10,000x scale improvements and get one step closer to building the Financial Computer – an atomic, global, unstoppable state machine, synchronized at the speed of light,” he stated.

Mumtaz explained that with the new update, developers can build and scale “literally anything they want” directly on the Solana blockchain. The Helius CEO also highlighted the example of the cost difference with the new technology.

“To airdrop to 1,000,000 users today would cost over $260,000 for the state alone now, it’s $50 – 5,200 times cheaper, but a token account is just one example of that – everything in Solana is a account, which means everything can be scaled”, he added.

the big news is here

today we’re introducing ZK compression to Solana, directly on the L1 — without requiring L2s

this changes everything you thought you knew about Solana and scaling L1s

TL;DR — we compress onchain state to get 10,000x scale improvements and get 1 step closer… pic.twitter.com/7FtyLA3Jdp

— mert | helius | hSOL (@0xMert_) June 21, 2024

At the time of publication, the price of Solana was listed at US$134.53, up 1.2% in the last 24 hours.

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