Solana is set to revolutionize blockchain scalability by introducing ZK compression directly on its Layer 1 (L1).
This will eliminate the need for Layer 2 (L2) solutions. Let’s explore more about this important news for Solana’s ZK.
Solana’s ZK Compression: A Milestone in Blockchain Evolution
Traditionally, blockchain networks like Ethereum and Cosmos have grappled with scalability issues and high transaction costs due to their modular design. In contrast, Solana’s innovative approach now allows for compressing on-chain state data, leading to a staggering 10,000-fold improvement in scalability. This breakthrough brings Solana one step closer to realizing the vision of “The Financial Computer”. It aims to be a globally unstoppable atomic state machine that synchronizes at the speed of light.
This means developers can now build and scale virtually any application directly on Solana without needing additional layers. Consider the example of conducting an airdrop to 1,000,000 users. Previously, the cost solely for storing the state data would exceed $260,000. With Solana’s new compression capabilities, this cost has plummeted to just $50 — making it 5,200 times cheaper. This drastic reduction in costs is not limited to token accounts alone; it applies to every aspect of Solana’s ecosystem, as every entity on Solana is treated as an account, ensuring universal scalability.
Source: X
More About Solana’s ZK Compression
This advancement is a game-changer for decentralized applications (dApps) and DeFi projects hosted on Solana. It empowers developers to innovate without being constrained by scalability concerns or exorbitant costs, thereby fostering a more inclusive and efficient blockchain ecosystem.
Source: X
Furthermore, Solana’s decision to implement ZK compression directly on L1 underscores its commitment to pushing the boundaries of blockchain technology. By enabling such transformative improvements in scalability and cost-efficiency, Solana is poised to attract even more developers and enterprises looking to leverage blockchain for a wide array of applications beyond finance.
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