The post Solana Developer Reveals What He Claims Will Be a Breakthrough for SOL, Says “Big News is Here” appeared on BitcoinEthereumNews.com.

Mert Mumtaz, CEO of Helius, a development platform in the Solana ecosystem, announced an important update that will lead to radical changes in the blockchain industry. In a recent tweet, Mumtaz announced that the Zero Knowledge (ZK) compression feature has been introduced to Solana and that this feature will be implemented directly on Layer 1 (L1), eliminating the need for Layer 2 (L2). “This changes everything you thought you knew about scaling Solana and L1s,” Mumtaz tweeted. He said the new feature compresses data on-chain to deliver a 10,000x improvement in scalability. The introduction of ZK compression is expected to greatly increase Solana’s network scalability. In this way, developers will be able to build and scale any application directly on Solana without having to leave the chain. Mümtaz also highlighted the significant cost reductions that come with this update. As an example, he showed the cost of airdropping 1 million users. Previously, this procedure cost over $260,000. With the introduction of ZK compression, this cost drops to just $50, representing a staggering 5,200-fold reduction. “Big news has arrived,” Mumtaz said, signaling a new era for Solana and the overall blockchain industry. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/solana-developer-reveals-what-he-claims-will-be-a-breakthrough-for-sol-says-big-news-is-here/

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Filed under: News - @ June 23, 2024 8:26 pm