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Solana Eyes $200 Rebound As New Adoption-Driving Technology Debuts

Solana Eyes $200 Rebound As New Adoption-Driving Technology Debuts

The Solana Foundation recently launched two new tools to facilitate the integration of Web3 capabilities into mainstream platforms and the adoption of blockchain. 

In a series of social media posts, the foundation launched “Actions” and “Blockchain Links” (Blinks), which, according to the announcement, is a step forward in allowing developers to build blockchain functionality into websites and social media platforms.

Alongside these developments, the Solana ecosystem continues to expand its tooling and services, with notable advancements in transaction cost reduction and network efficiency.

Seamless Web3 Transactions? 

Actions, one of the newly introduced tools, allows users to engage in Web3-native transactions, including asset transfers, non-fungible token (NFT) interactions, voting, betting, and tipping content creators. 

Complementing Actions, Blinks allows developers to format any Action into a shareable link, transforming websites and social media platforms into practical entry points for blockchain interactions. 

These tools reportedly provide an important bridge between traditional web applications and decentralized finance (DeFi), facilitating the integration of blockchain capabilities into everyday digital experiences.

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In addition, to optimize transaction costs, Light Protocol and Helius Labs recently launched a testnet for ZK Compression on the Solana network. ZK Compression uses zero-knowledge proofs and call data to reduce the cost of transactions on the network. 

By minimizing the amount of on-chain data stored, ZK Compression enables considerable fee savings by reducing the computational demand of Solana transactions. 

Mert Mumtaz, CEO of Helius Labs, estimates that ZK Compression can cut the cost of airdropping tokens to one million users on Solana from $260,000 to just $50, providing a compelling, cost-efficient solution. Mumtaz further stated:

example cost difference: take an airdrop to 1,000,000 users. This today would cost over $260,000 for state alone. Now, it’s $50 — 5,200x cheaper. But a token account is just one example of this — *everything* on Solana is an account, meaning everything can be scaled.

ZK Compression On Solana

While ZK Compression has garnered praise for its cost-saving potential, critics from the Ethereum community argue that it functions as a Layer 2 (L2) solution, contrary to Solana’s anti-Layer 2 ethos. 

Some skeptics contend that ZK Compression…

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