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The Solana Foundation recently launched two new tools to make it easier to integrate Web3 capabilities into major platforms and adopt blockchain technology.
In a series of Social media postsThe organization has 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 tools and services, with notable developments in Reducing transaction costs and network efficiency.
Seamless Web3 transactions?
Actions, one of the newly introduced tools, allows users to participate in native Web3 transactions, including asset transfers, Non-fungible token NFT interactions, voting, betting and tipping for content creators.
Complementing Actions, Blinks allows developers to format any action into a shareable link, turning websites and social media platforms into practical entry points for blockchain interactions.
These tools It said Providing an important bridge between traditional web applications and decentralized finance (DeFi), making it easier to integrate blockchain capabilities into everyday digital experiences.
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Additionally, to improve transaction costs, Light Protocol and Helius Labs recently launched a testnet for ZK pressure On the Solana network. ZK Compression uses zero-knowledge proofs and connection data to reduce the cost of transactions on the network.
By reducing the amount of data stored on-chain, ZK Compression enables significant fee savings by reducing the computational demand of Solana transactions.
Mert Mumtaz, CEO of Helios Labs, Estimates ZK Compression can reduce the cost of dropping tokens for 1 million users on Solana from $260,000 to just $50, providing a compelling and cost-effective solution. Mumtaz added:
Example of cost variance: Take an airdrop to 1,000,000 users. This day would cost more than $260,000 to the state alone. Now, the price is $50 cheaper – 5,200 times. But token compute is just one example of this – *everything* in Solana is compute, which means everything can scale.
ZK pressed Solana
While ZK Compression has received praise for its cost-saving potential, critics from the Ethereum community argue that it acts as a… Layer 2 (L2) The solution, contrary to Solana’s anti-second-class spirit.
Some skeptics assert that ZK Compression functions primarily as an L2 feature or validity-based cumulative set. Adam Cochran, Vice President of Operations at SBT Partners, advertiser ZK Compression is an L2 solution.
In response, Anatoly Yakovenko, co-founder of Solana, said: Highlight ZK Compression addresses many of the issues typically associated with Ethereum-based L2 solutions.
Yakovenko emphasized its independence from Security Council multi-signatures, chain ID keys, governance tokens, and external serializers while ensuring Solana validators receive transaction fees.
Sol price analysis
SOL saw a temporary decline on Monday, with its price reaching a low of $122. However, cryptocurrency analyst “Skew A” checked the 4-hour chart of SOL and noted its recovery, outpacing the recovery of other large coins.
According to To “Skew A”, there are specific factors to consider when assessing SOL’s potential upside and price recovery. First, SOL price movement above the 200MA (moving average) for one day is a positive signal.
This indicates that the value of the symbol is trending above the average price over the past 200 days, indicating potential bullish sentiment. Furthermore, confirmation of SOL’s uptrend would involve monitoring the Highs (HH) above $150.
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Over the past 24 hours, SOL has rebounded significantly with a 9% increase, bringing its current trading price to $138. This bullish move positions the token favorably as it aims to clear key resistance levels on its way towards consolidating above the important $200 milestone.
To reach the $200 mark, SOL must overcome this problem and successfully break through Major resistance Walls are priced at $150, $162, $174, and $186. These levels represent major hurdles to clear before breaking the crucial $200 threshold.
It remains to be seen whether continued momentum and positive developments within the Solana ecosystem will sustain SOL’s current recovery and enable it to retest the high price levels achieved in recent months.
Featured image of DALL-E, chart from TradingView.com
