<\/p>\n
Hoping to shake off the fallout from last year\u2019s collapse of FTX, layer-1 smart contract blockchain Solana is setting its sights on the next five years.<\/p>\n
According to Solana co-founder Anatoly Yakovenko \u2014 speaking at Blockworks\u2019 annual flagship event, Permissionless, on Tuesday \u2014 the years-long value proposition would seek to level the playing field for producing new blocks.<\/p>\n
\u201cI think I would love to see us land, from a technical perspective, multiple leaders per slot,\u201d the co-founder said. \u201cAnd this is something that is a very different roadmap from all the other blockchains.\u201d<\/p>\n
The feature, according to Yakovenko, would supposedly bring a new level of \u201cfairness\u201d to transaction processing.<\/p>\n
A slot is a period of time during which a new block can be added to the blockchain. Within most chains, there is usually only one leader or validator who gets the opportunity to add a block during that slot.<\/p>\n
This can sometimes prove problematic due to issues surrounding scalability, centralization risks and efficiency.<\/p>\n
Yakovenko\u2019s goal is to give validators, even those with as little as 0.001% of staked Solana (SOL<\/a>) tokens, a fair chance to contribute to block production, according to the co-founder.<\/p>\n \u201cTo have those guarantees, we actually need competition at the same time for block producers, and something that we\u2019ve been working on, internally designed by us, is to support multiple leaders per slot,\u201d Yakovenko said.<\/p>\n Such lofty concepts have attracted the likes of Maker, one of the industry\u2019s oldest DAOs, to consider tapping Solana<\/a> for its Endgame Plan \u2014 a proposal<\/a> intending to \u201coverhaul and improve the governance and tokenomics\u201d of the Maker ecosystem.<\/p>\n Solana also announced on Tuesday that its wallet, Solflare, would be launching on MetaMask Snaps \u2014 a feature by the wallet provider to improve functionality and offer wider wallet customization.<\/p>\n With the Solflare integration, users can directly manage SOL and NFTs associated with Solana through MetaMask wallets. Solana\u2019s dapps can now also be accessed through MetaMask, Blockworks reported<\/a>.<\/p>\n \u201cSolana has an incredibly vibrant ecosystem of apps of which many are only possible on Solana,\u201d Solflare co-founder Filip Dragoslavic said in a statement on Tuesday.<\/p>\n Overcoming setbacks<\/strong><\/p>\n As the crypto market trudges through its current downturn, the blockchain project, once a top-10 contender by market capitalization and previously considered \u201cEthereum-killer,\u201d continues to make strides.<\/p>\n Visa announced last week that it would allow its partners to send or receive USDC settlement payments via the Solana blockchain<\/a> in a bid to speed up settlement times for their merchants.<\/p>\n That\u2019s been a positive development for the project, which still faces challenges in overcoming past setbacks.<\/p>\n In the dying days of FTX<\/a> late last year, it was revealed that the exchange\u2019s sister trading desk, Alameda Research, held SOL to the tune of $1.2 billion \u2014 its second-largest holding behind FTX\u2019s native token, FTT.<\/p>\n As fears over a market-wide contagion gripped the industry, SOL and by extension, Solana, were swept up in the furor. The development led to a 47% sell-off<\/a> in SOL\u2019s value over a seven-day period. This further compounded the project\u2019s already battered reputation of being unable to maintain consistent uptime<\/a> in its operations.<\/p>\n In the final month of 2022, Web3 software provider Dust Labs disclosed it would be relocating its premier Solana-based NFT ventures, DeGods and Y00ts, to alternative blockchain ecosystems. DeGods eventually transitioned to Ethereum, while Y00ts migrated to Polygon.<\/p>\n The move was seen as an attempt to deviate from what some considered a fatal blow<\/a> at the time, following the collapse of Solana-based liquidity provider Serum. Serum, a major contributor to Solana\u2019s DeFi activity, was founded in August 2020 by the Solana Foundation, FTX, and Alameda.<\/p>\n When asked what he thought was the biggest misunderstanding for his chain over the last year, the co-founder said it was the perception of Solana as \u201cjust a bunch of open-source software.\u201d<\/p>\n \u201cYou don\u2019t have to fear it,\u201d he said.<\/p>\n Get the day\u2019s top crypto news and insights delivered to your email every evening.\u00a0Subscribe to Blockworks\u2019 free newsletter<\/a>\u00a0now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can\u2019t-miss tweets and more from\u00a0Blockworks Research\u2019s Daily Debrief<\/a>.<\/strong><\/p>\n Can\u2019t wait? Get our news the fastest way possible.\u00a0Join us on Telegram<\/a>\u00a0and follow us on\u00a0Google News<\/a>.<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Hoping to shake off the fallout from last year\u2019s collapse of FTX, layer-1 smart contract blockchain Solana is setting its sights on the next five years. According to Solana co-founder Anatoly Yakovenko \u2014 speaking at Blockworks\u2019 annual flagship event, Permissionless, on Tuesday \u2014 the years-long value proposition would seek to level the playing field for […]<\/p>\n","protected":false},"author":2,"featured_media":154845,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-154844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=154844"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154844\/revisions"}],"predecessor-version":[{"id":154851,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154844\/revisions\/154851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/154845"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=154844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=154844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=154844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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