The Block Crypto News21 minutes ago

Published on June 24, 2024 05:04 GMT+00:00edited on June 24, 2024 05:09 GMT+00:00

Solana-based developers Light Protocol and Helius Labs have launched a new way for applications on Solana to scale using a technology dubbed "ZK Compression," the two firms announced. 

ZK Compression works through a process known as state compression, allowing developers to store certain types of data using Solana's cheaper ledger space rather than its more expensive account space. A "hash" or fingerprint of off-chain data is stored on-chain for verification using "sparse state trees," according to ZK Compression's documentation. 

Light Protocol claims that ZK Compression will allow developers to store 100 compressed token accounts for around 4 hundred-thousandths of one sol, rather than a typical cost of around .2 sol, a 5000x reduction in price. A compressed PDA account can …