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

Solana High Performance Blockchain L1 SOLUSD enables ZK Compression technology in the main network. This development is expected to change the way Solana SOLUSD dApps scale and significantly reduce compute costs, says veteran developer.

Solana SOLUSD implements the ZK compression mechanism

Solana SOLUSD blockchain adopts ZK Compression, a crucial upgrade for its scaling and performance metrics. Mert Mumtaz, co-founder and CEO of Helius, an infrastructure application of Solana, expects these advancements to bring “10,000-scale improvements” to Solana’s L1 design.

the big news is here

Today we’re introducing ZK compression to Solana, directly on L1 — without requiring an L2

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

TL;DR – we compress on-chain state to get 10,000x scale improvements and get one step closer… pic.twitter.com/7FtyLA3Jdp— mert | helios | hSOL (@0xMert_) June 21, 2024

In terms of profitability, ZK Compression results in transactions more than 5,200 times cheaper, as Mumtaz’s calculations reveal.

Technically, the upgrade compresses the state size of Solana’s blockchain. The State being the most expensive element in resources in Solana SOLUSD blockchain, enabling the compression mechanism results in a radical reduction in hardware costs and overall blockchain performance.

Earlier, Solana SOLUSD Founder Anatoly Yakovenko billed the upgrade as “the most egalitarian thing he’s ever seen.” According to him, ZK Compression should “reshape the social fabric”.

Additionally, new versions include compressed account indexing via photon, an open source indexer that can be run locally.

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

Although this is a radical reconsideration of Solana’s project SOLUSD design, post-ZK Compression, the APIs will be almost identical to the existing ones, Mumtaz concluded.

Earlier this week, Pantera Capital, a leading venture capitalist in the blockchain segment, published an ultra-bullish report on Solana. SOLUSD. Analysts compared that of Solana SOLUSD achievements with those of Apple:

Solana has gained significant share over the past year. The shift is reminiscent of Microsoft’s dominance in the early desktop 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 each component of its own blockchain, similar to Apple’s approach with its vertically integrated hardware and software stack in macOS.

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

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