Solana, a Web3 infrastructure platform, has announced a new feature that reduces the cost of building user-first Web3 projects. The new feature, state compression technology, allows developers to store data directly on-chain at a significantly reduced cost.
Solana has built the state compression technology on Merkle trees, which enables developers to modify and store data on-chain concurrently in Solana’s ledger.
This technology significantly reduces the cost of data storage while retaining the security and decentralization of Solana’s base layer. Projects like Dialect, Crossmint, Helium, and Wordcel are already using the feature to build expansive, user-friendly experiences on the Solana platform.
Compressed NFTs are Solana’s first application of state compression technology. Compressed NFTs are significantly less expensive than regular NFTs; and can be minted with far lower storage and gas fees.
Solana’s technical lead on the ecosystem engineering team, Jon Wong, stated: “In fact, because every incremental compressed NFT is solely a modification of an existing tree, the cost of an NFT on Solana is now as little as the cost of a single transaction (◎0.000005)!”
The state compression technology was created by developers at Solana Labs and Metaplex, with assistance from Phantom, Solflare, and the Solana Foundation. RPC providers and indexers Helius, Triton, and SimpleHash also support the novel technology.
State compression is a significant development that reduces costs by magnitudes of scale, making it even less expensive to build user-first Web3 projects. It demonstrates Solana’s superiority in creating scalable, user-focused Web3 products by bringing a well-known data structure to bear at the speed of Solana.
This development is expected to drive more projects to the Solana ecosystem and strengthen its position as the industry leader in building Web3 experiences at scale.
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