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

High-performance L1 blockchain Solana SOLUSD activates ZK Compression technology in mainnet. This development is expected to change the way Solana’s SOLUSD dApps scale and reduce computational prices dramatically, a seasoned developer says.

Solana SOLUSD implements ZK Compression mechanism

Solana SOLUSD blockchain adopts ZK Compression, a crucial upgrade for its scaling and peformance metrics. Mert Mumtaz, cofounder and CEO of Helius, a Solana infrastructure application, expects the advancement to bring “10,000x scale improvements” to Solana’s L1 design.

the big news is here

today we’re introducing ZK compression to Solana, directly on the L1 — without requiring L2s

this changes everything you thought you knew about Solana and scaling L1s

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

In terms of cost-efficiency, ZK Compression results in over 5,200x cheaper transactions, as revealed in calculations by Mumtaz.

Technically, the upgrade compresses the size of Solana’s blockchain state. As state is the most resource-expensive element of the Solana SOLUSD blockchain, the activation of the compression mechanism brings radical reduction to hardware costs and overall blockchain performance.

Earlier, Solana SOLUSD founder Anatoly Yakovenko introduced the upgrade as “the most egalitarian thing he had ever seen.” In his view, ZK Compression is expected to “reshape the fabric of society.”

Also, new releases include compressed account indexing via photon, an open-source indexer that can be run locally.

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

Despite being a radical reconsideration of Solana’s SOLUSD design, post-ZK Compression, APIs will be nearly identical to existing ones, Mumtaz concluded.

Earlier this week, Pantera Capital, a havyweight VC in the blockchain segment, released an uber-bullish report on Solana SOLUSD. Analysts compared Solana’s SOLUSD accomplishments with those of Apple:

Solana has gained significant share over the past year. The shift 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 own blockchain, similar to Apple’s approach with its vertically integrated hardware and software stack in macOS.

Thanks to the combination of seamless UX, fast innovation and enhanced security, Solana SOLUSD is going to become the “Mac OS” of the Web3 sphere, Pantera Capital says in its latest Newsflash, Crypto Owners Vote letter.