Solana Launches New Data Storage Technology, Bringing Down Cost of Minting 1M NFTs to $113

Solana Launches New Data Storage Technology, Bringing Down Cost of Minting 1M NFTs to $113

Solana announced the launch of "State Compression", a new technology for data storage. It utilizes Merkle trees, allows developers to store a small bit of data on-chain and updates directly in the Solana ledger, thus lowers cost significantly.

The first use of State Compression is "compressed NFTs", which reduce the cost of minting NFTs on Solana by 2,400-24,000x. According to Solana, previously, the cost of minting 1 million NFTs on Solana is over $250,000. Using compressed NFTs, it is around $113.

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.

Source

Solana

Storage

NFT

In This Article

Related News
Solana Plans to Launch a Second Smartphone Solana Plans to Launch a Second Smartphone
Datamall Chain's ERC-7585 Proposal Approved, Enhancing Ethereum Ecosystem Datamall Chain's ERC-7585 Proposal Approved, Enhancing Ethereum Ecosystem
Render Network Completes the Token transfer to Solana and Introduce BME Model Render Network Completes the Token transfer to Solana and Introduce BME Model
Solana Saga Phone Sales Surged as Purchasers can Claim 30M BONK Airdrop Solana Saga Phone Sales Surged as Purchasers can Claim 30M BONK Airdrop
Jito Labs Announces Distribution Plan of 100M JTO Airdrops Jito Labs Announces Distribution Plan of 100M JTO Airdrops
Latest News More More
EigenLayer Raised $100M From a16z
StarkWare Amended $STRK Token Unlock Schedule Amid Critisism
14 Hours Ago Starknet Token Dumped by Nethermind and Airdrop Farmers
19 Hours Ago Wormhole to Use AMD's Chip to Facilicate Cross-chain Messaging
20 Hours Ago S&P Global Predicts $ETH ETF Approval in May, Raises Concern over Staking Concentration Risk
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open