Layer 1 blockchain has launched a brand new answer geared toward drastically decreasing the price of on-chain storage. Referred to as state compression, the expertise guarantees to decrease the price of typing by 1 million non-fungible tokens (NFT) on the community at almost $110.
“After many phases of growth, adoption, and deployment, Compressed NFTs are dwell on Solana’s mainnet beta and are powering the subsequent wave of modern on-chain product experiences,” mentioned Solana Basis CTO Jon Wong in an April 6 weblog publish. In keeping with Wong, compressed NFTs “are 2,400 to 24,000 occasions cheaper than uncompressed friends” with equivalent constructions.
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