Solana Integrates ZK Compression Technology to Improve Scalability

banner-image

🚀 Stay Ahead with AltcoinDaily.co! 🌐

The latest addition to the Solana ecosystem is the ZK Compression technology which is expected to improve scalability and reduce transaction cost. This will be achieved by a decrease in blockchain state size which would normally utilize a lot of resources. In the long run, the integration of this technology would translate to improved performance capabilities, according to Solana. 

This is a significant milestone for Solana especially after a season of multiple outages and crashes.

Solana Co-founder Addresses Criticism on ZK Compression Technology 

Like with many novel introductions, the ZK Compression technology has received criticism from some observers. Most of these critics are concerned about the security implications of this new development. However, Anatoly Yakovenko, Solana’s co-founder, clarified their concerns citing that the Solana ZK Compression technology functions as a Layer-2 that requires no chain ID switches or security council multisig.

  🌟 Unlock Crypto Insights with AltcoinDaily.co! 💰

In addition, Yakovenko noted that it also does not require an external sequencer or a governance token. This does not interfere with transaction fees as it will all still be paid to Solana validators. The effect that this technology has on transaction costs is one of its most unique features. Noteworthy, it is the integration and improvement in efficiency that reduces expenses.

Pantera Capital Praises Solana’s Latest Integration 

The integration of ZK Compression technology will not alter Solana’s APIs even with the major architectural modification that it brings. As such, developers who leverage the platform are guaranteed of an experience with the most minimal amount of disruption. 

Venture Capital firm Pantera Capital is proud of the move that Solana has made with the addition of the ZK Compression technology. Consequently, it released a report that took a comparison between Apple’s ground-breaking tactics and Solana’s creative approach. This comparison led the VC to refer to Solana as the ‘Mac OS’ of the Web3.0 world. For context, Pantera Capital acknowledged its simple interface, quick innovation, and improved security.

 🦂 AltcoinDaily.co is your trusted source for the latest in crypto news and insights. 🚀

Solana Foundation Removes Validator Operators 

Meanwhile, the Solana Foundation recently took decisive action by removing several validator operators from its delegation program due to their participation in sandwich attacks targeting Solana users. Solana says it aligns with the foundation’s stringent rules, which explicitly prohibit malicious activity within the network. This decision underscores commitment to maintaining a secure and trustworthy network. 

Generally, Solana Foundation is trying to fix the blockchain’s scalability problem and this necessitates a substantial increase in transactions per second to meet demand. 

 🔍 Your Crypto News Hub: AltcoinDaily.co! 🌐

July 23, 2024

Asset management firm Bitwise has pledged a total of 10% of..

July 23, 2024

With no central authority formally supervising their use as a payment..

July 23, 2024

Coinbase Exchange has been upgraded from "Buy" by Citi analysts as..

ads-image ads-image