Solana zk SDK, Solana MEV, New Token Standard & More

Welcome back!

This is J264G and this week we’ve got these titbits for you:

• Turning Tides: The crypto community is embracing Solana.

• zk SDK: Elusiv releases its SDK to power privacy-preserving apps.

• Token v2: Solana’s new token programme may usher in a new era.

The SEC has filed 13 charges against Binance entities and CZ.

Amongst other things, the lawsuit alleges that tokens such as $SOL, $ADA, $MATIC, $FIL, $ATOM, $SAND, $ALGO, $AXS, and $COTI are securities.

Apart from being questionable and a bewildering mix, how do these tokens differentiate from $AVAX, $APT, $SUI, and $ETH — with Polygon's fee burning mechanism (EIP-1559) literally being brought over from Ethereum?

Regardless, Gary Gensler has now charted the bright lines of US enforcement which, at the very least, hamstrings crypto in the US and will push crypto activity offshore.

Let’s be honest: This is a loss for the US.

Other regions, however, stand to significantly benefit from these developments — with Saudi Arabia, the United Arab Emirates, and Southeast Asia at the forefront.

Now, let’s get into it!

Click on any underlined heading / hyperlink to learn more.

Spotlight

The Tide Is Turning

Since its inception, Solana has been heavily criticised for its supposed centralisation, lack of safety, miniscule developer ecosystem, and most recently, its tokenomics.

Many of the most deep-rooted and persistent claims have been proven to be wrong, time and time again.

Yet, they are still being recycled regularly — overshadowing Solana’s stability improvements, and technological advancements such as state compression, local fee markets, mobile, and Token-2022 programme (more on this further below).

The current public perception of Solana is frustrating advocates.

Having said that, understanding how public perception takes shape and can be changed might make it more evident that things are not as bleak as they seem.

People naturally gravitate towards familiarity and are often resistant to accepting new ideas or altering their existing beliefs. Deep-seated biases, preconceptions, and societal norms can act as significant barriers, making it challenging to shift collective opinions.

As such, the process of shifting public perception is complex and often requires significant time and effort.

The role of time cannot be understated.

As new information, evidence, and perspectives emerge, the narrative gains credibility and momentum. It allows for a broader range of voices to contribute, leading to more nuanced discussions and a more profound understanding of the issue at hand — gradually reshaping public attitudes, eventually leading to a change in the prevailing narrative.

Apart from time, unwavering effort needs to be put in as well.

This demands persistence, consistent messaging, and the ability to influence key stakeholders. As such, ongoing dialogues, education, and persuasion are needed to gradually dismantle barriers and foster a more receptive environment.

When examining the current public perception of Solana more closely, a narrative change can clearly be seen.

Granted, early adopters still face resistance, scepticism, and pushback from those who are entrenched in the existing narrative.

Yet, the wider crypto community is increasingly embracing Solana.

The journey to change Solana's public perception remains challenging, but the tide is turning.

Stay the course 🫡

Numbers Of The Week

News Bites

Token v2: Currently, the Ethereum ecosystem allows for more innovation, experimentation, and use cases when it comes to tokens. The Token-22 programme, however, is poised to usher in a new era on Solana, as it allows developers to design tokens with novel functionalities. This may not only attract new users, but also increase the compostability across the entire Solana ecosystem.

zk SDK: Elusiv has released its SDK, which gives developers low-friction access to privacy tooling, enabling them to build privacy-preserving applications quickly.

Solana MEV: MEV is important to create fair, efficient, and secure blockchains. In this context, Umbra Research explores the current state of MEV on Solana.

Revolutionising Payment: TipLink can't stop, won't stop. The product now allows users to send crypto via a link, through which the recipient can claim tokens with their Google account, and withdraw them to a bank account — all without the need for crypto-specific knowledge.

Light Client: Light clients provide an efficient way to interact with blockchains, offering improved accessibility, faster synchronisation, scalability, privacy, and decentralisation. *Drumroll* The Tinydancer light client for Solana has gone live!

Bespoke Experiences: A new GitHub repository enables teams on Solana to easily upgrade their existing NFT collections to xNFTs — allowing them to start crafting bespoke experiences for their holders.

Caught In 4K

Weekly Take

Keks & Giggles

And that's a wrap!

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Talk soon!

J264G