The leading blockchain network, Solana introduced “state compression” to improve the on-chain data storage experience in a cost-effective manner, expecting to be a proven game-changer.
The state compression leverages the prominent data structure while keeping Merkle Trees at its core.
In the Twitter thread, Solana claimed in the trial run of state compression they have successfully reduced the NFT minting cost by 2,400-24,000x.
Currently, the minting cost of 1 million uncompressed NFTs on Solana is around $250,000, which is expected to reduce to $110 after using compressed NFTs.
State compression assists developers in utilizing the Merkle tree approach to store a minimal amount of data on the Solana blockchain and modify it on the spot in the ledger. This technique enables developers to reduce the expenses associated with data storage.
In the early stage of trials, multiple platforms on Solana are testing their service and offerings with state compression. This includes Dialect, a blockchain-based messaging service, which is using state compression for compressed NFTs to cover the minting cost of NFT stickers for thousands of users.
By utilizing state compression, Crossmint, a firm specializing in NFT and API tools, is developing connections that enhance customer loyalty for global companies. Other Solana-based projects like Helium, DRiP, and Wordcel are also integrating their platform with state compression to enhance user experience.
To onboard the new feature, Solana has collaboratively worked with Metaplex, Helius, Triton, SimpleHash, Phantom, and Solflare.
Also Read: Solana Issues a Plan to Improve Its Network Upgrades
