Crypto Blog
A Nansen analyst recently published a report diving deep into the Solana ecosystem, exploring the on-chain data, network developments, and other findings.
The state compression reduced the cost of NFT minting by more than 2,000 times. Before this state compression, minting a million NFTs on the Solana network would cost the creator about $253,000. The compression led to a dramatic drop in the cost to merely $113. Furthermore, the analysts mentioned a growing interest in enterprise adoption and payment rails following Visa’s integration of USDC settlement on the Solana blockchain. The Visa USDC integration mainly aimed to bring faster finality and high throughput at virtually negligible costs to users.“Other potential tailwinds for Solana include increased enterprise adoption, success in implementing the Firedancer vision, and growing consumer-facing applications leveraging Solana’s advantages.
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