Rediscovering the value of Solana: growing quietly in the backlight

1 months ago
This article is approximately 1064 words,and reading the entire article takes about 2 minutes
There are almost no exchanges at the ongoing Solana annual conference, but maybe this is what they want.

Original - Odaily

Author - Azuma

Rediscovering the value of Solana: growing quietly in the backlight

At the time of writing this article, Solana (SOL) is experiencing its strongest rebound since the bull market, and the price is around $43.

As the most amazing project in the last bull market (perhaps without adding one), Solana once had the aura of Ethereum killer on its head, and with the help of a certain explosive head, it once ranked among the top three in Cryptos market value rankings.

However, with the sudden collapse of the FTX empire, Solana, which was deeply involved in it, also suffered a heavy blow. The currency price dropped by 90%, ecological projects fled, and some unexpected downtime accidents caused Solana to gradually fall from the altar, and the millions of attention that once focused on it have quietly dissipated.

At a time when Ethereum’s orthodox status is becoming increasingly solid and Layer 2 narratives are becoming popular, as a representative of the “other” Layer 1,Solana mostly develops silently in the backlight where market attention is relatively low, but the recent consecutive positive lines seem to be announcing to the market that it has emerged from the shadow of the old and is about to open a new chapter. .

Regarding Solana’s past story, interested readers can listen to the 22nd issue of STEPN Chief Revenue Officer Mable’s podcast “HODLong Houlang”The Ups and Downs of Solana: A lot of chance and a little bit of necessity. The content of this issue details how Solana went from a Layer 1 with less financing to the top of the track, how it completed its launch from 0 to 1, how SBF became associated with Solana, and what happened to Solana, the Xiti Giant Perfecting the growth flywheel.

Rediscovering the value of Solana: growing quietly in the backlight

This podcast is also available on the Odaily siteText version content, friends who are inconvenient to listen can read it directly.

As a former partner of Multicoin Capital, Solana’s other major investment institution, Mable’s prediction of Solana’s future development at the time was:Solana will most likely not die, but it will not live in the same way.

Looking back today, after removing keywords such as exchange, market maker, and giant, Solanas development does seem to be purer.

  • In April, Solana launched a new feature state compression for NFT storage, which can reduce the cost of minting NFTs on Solana by 2,400-24,000 times. The cost of minting 1 million NFTs will be reduced from US$250,000 to US$110.

  • In July, Solana released the GameShift API, which aims to better empower developers to develop Web3 games in Solana and simplify their development difficulty.

  • In the same month, Neon, an EVM compatible solution based on Solana, was officially launched on the mainnet. Then Solana launched a smart contract compiler that supports Solidity, aiming to further connect with the EVM ecosystem.

  • From the end of August to the beginning of September, Shopify and Visa announced their integration with Solana, expanding Solanas payment service territory in the Web2 world.

  • In September, Rune Christensen, the founder of the Ethereum OG project Maker, publicly praised Solana, believing that Solana has the most promising code base and can be used as the basis for Maker to build a new chain.

  • In October, the Firedancer client developed by Jump Crypto was officially launched on the testnet. In addition, Syndica is also leading the development of another client, Sig, and the development of the light client TinyDancer is also actively advancing.

In addition to network-level development and improvements, Solana is also actively promoting its ecological construction. In the past third quarter alone, Solana has co-organized and sponsored many hackathon events such as OPOS, Hyperdrive, Hacker Houses, PlayGG, etc. with other ecological partners, and provided millions of dollars in early stage funding to many outstanding teams. funds.

Currently, Solanas annual ecological conference Breakpoint held in Amsterdam is about to enter its third day. However, just like Solana, which has been in the backlight for a long time, the exposure of this conference on social media (especially in the Chinese-speaking circle) does not seem to be that much. As expected (at least not as good as Devconnect half a month later).

Alexander Golding, an investment associate at Delphi Digital who once worked at Solana Labs, made some brief notes on the content of the first two days of this meeting.He also mentioned that the actual number of attendees was more than last year, and many new faces were met., interested users can track itssocial media accountLearn more.

Rediscovering the value of Solana: growing quietly in the backlight

To put it simply, this is more like a grand event for developers.

Jump Crypto officially announced the launch of Firedancer on the testnet on the first day of the conference, and received praise from many technical experts. Georgios Konstantopoulos, Chief Technology Officer, Paradigmspeak franklyLike the client; Raoul Pal, founder of Global Macro Investor,expressThis is a huge leap forward for blockchain technology; Cyber ​​Capital founder Justin Bons even takes itclaimSolana has gone from being a critic to a supporter.

Rediscovering the value of Solana: growing quietly in the backlight

In addition to the much-watched Firedancer, many Solana ecological projects have also announced their latest progress at Breakpoint. Pyth Network yesterdayAnnounceWith plans for retroactive airdrops, it looks like Jupiter will not be available tomorrowOfficial announcementSomething.

Rediscovering the value of Solana: growing quietly in the backlight

It is worth mentioning that Golding specifically emphasized in the Day 2 record that almost no VCs with exchange backgrounds were present at this Breakpoint. Only Coinbase Ventures and OKX Ventures may be present, but this allowed the Solana team and community developers to attend We have more time to communicate in close proximity. Perhaps, this is what Solana would prefer.

Rediscovering the value of Solana: growing quietly in the backlight

All in all, the original intention of this article is not to advocate Solana or call for SOL. In fact, I personally do not recommend doing anything now, because as Breakpoint is about to close, it is foreseeable that Solanas short-term traffic peak will soon pass. , there is a certain degree of uncertainty in the subsequent market.

The reason for writing this article is that I hope everyone can look at Solanas current development status (especially the post-FTX era) more objectively and understand Solanas specific trends after emerging from the shadow of history.

It has not been defeated by the black swan. Just as it was able to stand out and be favored by SBF back then, many of its advantages still exist and will continue to exist.

Its not perfect, but its getting better.

It is not called FTX chain or SBF chain... it was, is, and will be called Solana in the future.

Original article, author:Azuma。Reprint/Content Collaboration/For Reporting, Please Contact;Illegal reprinting must be punished by law.

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