2 years ago
Solana connected April 6 announced the instauration of authorities compression, a caller diagnostic that volition importantly trim the outgo of minting NFTs.
According to Solana, authorities compression tin beryllium utilized to store immoderate benignant of on-chain data, but is typically utilized with non-fungible tokens (NFTs) astatine present.
The attack involves modifying an existing Merkle histrion connected the Solana blockchain alternatively of carrying retired a modular transaction, allowing for “drastically cheaper” NFTs.
The outgo of minting and storing compressed NFTs scales with the fig of items successful question. In 1 estimate, Solana said that it costs 5.35 SOL ($113) to mint and store 1 cardinal compressed NFTs. By comparison, it would outgo 12,000 SOL ($253,680) to mint the aforesaid magnitude of NFTs connected Solana without the benefits of authorities compression.
Solana besides said that it costs conscionable 0.000005 SOL (less than 1 cent) to mint a azygous compressed NFT. A implicit terms standard is shown successful the project’s blog post.
Solana said that astatine slightest 5 projects are already utilizing the feature.
The station Solana reveals low-cost NFTs with authorities compression appeared archetypal connected CryptoSlate.
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