Solana (SOL) recently implemented a significant update within its ecosystem, activating ZK Compression technology on its mainnet. This new feature is expected to revolutionize the scalability of Solana dApps and significantly reduce computational costs.
ZK Compression technology is a crucial upgrade for Solana’s scale and performance metrics. Mert Mumtaz, co-founder and CEO of Helius, a Solana infrastructure application, expressed his belief that this technology could bring “10,000x scale improvements” to the network’s L1 design.
Introducing ZK compression directly on L1, without the need for L2s, is a game-changer for Solana’s scaling capabilities. Mumtaz stated, “We compress the on-chain 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.”
With this update, developers can now build and scale anything they desire directly on the Solana blockchain. Mumtaz also highlighted the cost savings achieved with the new technology. For example, airdropping to 1,000,000 users would cost over $260,000 for the state alone, but with ZK Compression, it is now $50 – a 5,200 times reduction in cost. This cost reduction applies to all aspects of Solana, as everything on the platform is an account and can be scaled.
The introduction of ZK Compression to Solana is a significant milestone that challenges previous notions of scaling L1s. The impact of this update is expected to be transformative for the Solana ecosystem and its users.
As of the time of publication, the price of Solana was quoted at $134.53, representing a 1.2% increase in the last 24 hours.
Disclaimer: The views and opinions expressed in this article, as well as those of individuals mentioned, are for informational purposes only and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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