Solana NFT printing costs may be cheaper with new technology.
wither While the ecosystem is developing day by day, there may be an update in NFT printing costs. Solana has unveiled the Blockchain in what is called “state compression”, which aims to reduce the cost of storing data on-chain.
NFT Printing Costs May Reduce in Solana
Solana Labs, metaplex, RPCproviders, indexers, and developers from other organizations collaborated to develop state compression for Solana.
Solana announced “state compression” aimed at reducing the costs of storing data on-chain. With this update, NFT printing costs may be cheaper.
The technology could potentially impact the NFT market and Solana-based Web3 projects. State compression uses Merkle trees, a data structure that provides verifiable off-chain storage in Solana and ensures low on-chain storage costs. Merkle trees are a type of data structure that allows efficient and secure verification of the contents of large data sets.
“State compression”, which reduces on-chain data requirements, was developed by Solana Labs and Metaplex in collaboration with RPC providers and indexers Helius, Triton and SimpleHash, and with support from Solana-based web3 wallets Phantom and Solflare.
