Solana reveals cost-cutting resolution for on-chain storage

Layer-1 blockchain has launched a brand new resolution aiming to drastically cut back the price of on-chain storage. Known as state compression, the know-how guarantees to deliver down the price of minting 1 million nonfungible tokens (NFTs) on the community to just about $110.

“After quite a few phases of improvement, adoption, and rollout, compressed NFTs are reside on Solana’s mainnet-beta and powering the subsequent wave of novel on-chain product experiences,” mentioned Solana Basis tech lead Jon Wong in a weblog submit on April 6. In accordance with Wong, compressed NFTs “are 2,400-24,000x cheaper than uncompressed” friends with an identical constructions.

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