Solana (SOL) Welcomes Most Crucial Update in Years — TradingView News

High performance L1 Solana blockchain SOLUSD activates ZK compression technology in the main network. This development is expected to change the way Solana SOLUSD dApps scale and drastically reduce computational costs, says a seasoned developer.

Solana SOLUSD implements the ZK compression mechanism

Solana SOLUSD the blockchain adopts ZK compression, a crucial upgrade to its scalability and performance parameters. Mert Mumtaz, co-founder and CEO of Helius, a Solana infrastructure application, predicts that the advancement will bring “10,000x scale improvements” to Solana’s L1 design.

the big news is here

today we introduce ZK compression in Solana, directly on L1, without requiring L2

this changes everything you thought you knew about Solana and L1 scaling

TL; DR: Let’s compress the onchain state to get 10,000x scale improvements and get 1 step closer… pic.twitter.com/7FtyLA3Jdp— mert | helium | hSOL (@0xMert_) June 21, 2024

In terms of cost efficiency, ZK Compression results in transactions being over 5,200 times cheaper, as revealed in Mumtaz’s calculations.

Technically, the upgrade compresses the size of Solana’s blockchain state. Since the state is the most expensive element in terms of resources of the Solana SOLUSD blockchain, the activation of the compression mechanism leads to a radical reduction in hardware costs and the overall performance of the blockchain.

First, Solana SOLUSD founder Anatoly Yakovenko described the update as “the most egalitarian thing he had ever seen”. In his opinion, ZK Compression should “reshape the fabric of society”.

Additionally, the new releases include compressed indexing of accounts via photon, an open source indexer that can run locally.

Pantera Capital appoints Solana SOLUSD the “Mac OS of blockchains”

Although it is a radical reconsideration of Solana’s SOLUSD design, after ZK compression, the APIs will be almost identical to the existing ones, Mumtaz concluded.

Earlier this week, Pantera Capital, a leading VC in the blockchain space, released a super bullish report on Solana SOLUSD. Analysts compared that of Solana SOLUSD results with those of Apple:

Solana has gained a significant share in the last year. The change is reminiscent of Microsoft’s dominance of the early desktop computer market, until Apple broke through with its vertically integrated approach. Solana is now a major contender for the future of blockchain development. Solana’s monolithic architecture has a product roadmap focused on optimizing every component of its blockchain, similar to Apple’s approach with its vertically integrated hardware and software stack in macOS.

Combining seamless UX, rapid innovation, and advanced security, Solana SOLUSD will become the “Mac OS” of the Web3 sphere, says Pantera Capital in its latest Newsflash, Crypto Owners Vote letter.

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