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Market Cap:
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cryptonews
2023-04-07 16:00:00

Solana's Latest Tech Solution Aims to Dramatically Reduce On-Chain Storage Costs – Here's How it Works

Solana's Latest Tech Solution Aims to Dramatically Reduce On-Chain Storage Costs – Here's How it Works

Popular layer-1 blockchain Solana has unveiled a new solution that will dramatically decrease the cost of storing data on-chain. In a Thursday blog post, Solana Foundation tech lead Jon Wong said the "state compression" technology would bring down the cost of minting 1 million non-fungible tokens (NFTs) on the network to around 4 SOL, or $110. In comparison, it currently costs roughly 1,200 SOL (more than $24,000) to store 1 million NFTs on the Solana blockchain. ... Read More: Solana's Latest Tech Solution Aims to Dramatically Reduce On-Chain Storage Costs – Here's How it Works

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