Solana has just introduced State Compression data compression, which promises to save even more on the cost of building user-first web3 projects. The team of Solana ecosystem engineers announced a new feature that allows data to be stored directly on-chain, reducing storage costs at scale.
#solana Introducing cheaper state compaction #Web3 develop https://t.co/ny25zMWaba
— Kyptos (@azcoinnews) April 6, 2023
State compression is already used by several projects in the Solana ecosystem, including blockchain-based messaging service Dialect and company Crossmint, which provides NFT tools and APIs, to provide a wide range of experiences and user-friendliness. User-owned wireless network Helium and on-chain publisher Wordcel are also using state compression to bring their scalable, user-first experience to Solana.
The first state compression use case is for compressed NFTs. They are similar to normal NFTs, but much cheaper. The cost to mine 100 million compressed NFTs and store them on-chain is only around $50, compared to $1.2 million for uncompressed NFTs.
The state compression feature uses Merkle trees, a compression-friendly data structure that allows developers to store small amounts of data on-chain and update that data directly in the Solana ledger. This technology significantly reduces data storage costs while utilizing security and decentralization from Solana’s base layer.
Jon Wong, Head of Ecosystem Engineering at the Solana Foundation, said that State Compression cleverly uses well-known data structures and delivers at Solana speed, proving once again that Solana is a mecca for building scalable, user-first web3 products.
State Compression is a true cross-ecosystem effort, built by developers at Solana Labs and Metaplex, powered by RPC indexes and providers Helius, Triton, and SimpleHash, and supported by Phantom, Solflare, and the Solana Foundation.
The launch of State Compression will make it more affordable for developers to create web3 projects on Solana, reinforcing the platform’s industry leadership. With unparalleled speed, minimal environmental impact, composability, and low gas costs, Solana is the ideal platform for anyone looking to build user-first web3 experiences at scale.
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