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Solana vs Apple, Solana AI Audits, Blockchain Tea & More

Also: Jupiter reaches $30 billion in trading volume.

April 18, 2023

Welcome back!

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

  • Solana Mobile: What the launch of Saga really means.

  • AI Audits: Solana devs can now use AI for programme security.

  • Blockchain Tea: Boba Guys to explore Solana — 光想就流口水 🤤！

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We’re out here building, regardless of the obstacles put in our way.

Let’s get this bread!

Click on any underlined heading / hyperlink to learn more.

Spotlight

Solana vs Apple (and Google)

Solana's first mobile phone, Saga, will ship to customers from May 8 onwards — a monumental milestone for the entire web3/crypto ecosystem.

Although Saga was announced in June 2022, it seems as if the big picture is still not well understood.

Here are the main drivers of Solana's mobile initiative:

  • Mobile: Make interactions with blockchains mobile-friendly and seamless.

  • App Store: Bypass iOS App Store and Android Google Play Store restrictions.

  • Self-Custody: Make self-custody frictionless and more consumer friendly.

Let's take a look at these aspects in more detail.

Mobile

With mobile networks becoming more widespread, mobile phones have outpaced the usage of both laptops and desktop PCs, especially in developing countries. Today, 60% of internet traffic comes from mobile devices. In this context, the launch of Saga fits perfectly into current trends — albeit, more cost-effective models will be needed for mass adoption.

App Store

The iPhone makes up ~ 20% of the global mobile phone market and more than 50% of the mobile phone market in the US. Having said that, the Apple App Store does not only employ a strict app review process that seems to hamstring web3/crypto apps, but also charges a 30% commission fee on all app purchases and in-app transactions. This leads to less competition, limited innovation, higher costs for consumers, and reduced profits for developers.

Saga will come with an dApp Store which broadly follows the policies of the Google Play Store, surpassing the restrictions and fees implemented by Apple. Going forward, however, dApps on Saga might be deployed as xNFTs — turning the idea of the Solana dApp Store on its head.

Self-Custody

Overall, self-custody of financial assets can offer greater control, privacy, and security to individuals, particularly in contexts where traditional financial systems may be lacking or untrustworthy. This is why Saga will launch with Seed Vault, a native self-custody feature that safeguards the wallet’s seed phrase within a secure environment on the phone. Even the Android operating system doesn’t have access, and it’s tied to your biometric signature via Saga’s rear fingerprint sensor.

A mobile-first approach, dApp Store/xNFT Store, and Seed Vault — all of these aspects are poised to further catalyse the ethos of web3/crypto.

Having said that, a successful blockchain-centric mobile phone remains a moonshot. At the very least, however, it might put pressure on incumbents such as Apple and Samsung to start integrating web3/crypto native hardware and software components.

The first all-electric Volkswagen, dubbed the Elektro Transporter, began testing in 1972. But only with the rise of Tesla, EVs really took off.

We might see the same play out with Saga: While it’s one of the first mobile phones to pioneer consumer-centric self-custody, other players might be the ones popularising it.

Either way, the launch of Saga might just be a win-win situation for everyone involved.

Charts Of The Week

News Bites

AI x Security: Solana Audits AI, an LLM powered CLI tool, can detect vulnerabilities, point out where they are, and suggest fixes — which can further bolster the security of Solana programmes.

Blockchain Tea: Boba Guys will leverage Solana to integrate NFT and token-gated experiences to help enhance their consumer engagement.

Mint Hype: The highly anticipated NFT collection “Mad Lads” will mint on the 20th of April. The mint will take place in the Backpack wallet, and the developers have stressed that it will be free of bots 😲

Accelerating Adoption: The Solana Foundation announced an expansion of its capital deployment strategy to include convertible grants, as well as investments. The aim of this initiative is to fund closed-soured projects that develop public goods.

DeFi Dynamics: Jupiter, a liquidity aggregator on Solana that offers the widest range of tokens and best swap prices, has reached $30 billion in trading volume.

Weekly Take

Keks & Giggles

And that's a wrap!

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