{"id":76816,"date":"2023-04-06T20:28:10","date_gmt":"2023-04-06T17:28:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76816"},"modified":"2025-09-10T19:35:27","modified_gmt":"2025-09-10T16:35:27","slug":"solana-developers-build-tool-to-cut-nft-minting-fees","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/solana-developers-build-tool-to-cut-nft-minting-fees\/","title":{"rendered":"Solana developers build tool to cut NFT minting fees"},"content":{"rendered":"<p>The Solana project&#8217;s development team unveiled state compression technology that significantly reduces costs for on-chain operations.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">1\/ Solana\u2019s low fees have made it an industry leader. But thanks to a recent innovation from teams across the ecosystem, it\u2019s about to cost even less.<\/p>\n<p>Introducing state compression, a new way to store data on Solana that lowers cost significantly. <a href=\"https:\/\/t.co\/0baMJ0vOn1\">https:\/\/t.co\/0baMJ0vOn1<\/a><\/p>\n<p>\u2014 Solana (@solana) <a href=\"https:\/\/twitter.com\/solana\/status\/1643972968433975296?ref_src=twsrc%5Etfw\">April 6, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The proposed solution uses <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-merkle-tree\">Merkle trees<\/a> \u2014 structures that enable efficient and secure verification of large data sets.<\/p>\n<p>The on-chain data-reducing technology state compression was created by Solana Labs in collaboration with Metaplex, Helius, Triton, SimpleHash, with participation from wallet developers Phantom and Solflare.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">6\/ State compression is a true cross-ecosystem effort \u2014 with support from <a href=\"https:\/\/twitter.com\/metaplex?ref_src=twsrc%5Etfw\">@Metaplex<\/a>, <a href=\"https:\/\/twitter.com\/heliuslabs?ref_src=twsrc%5Etfw\">@heliuslabs<\/a>, <a href=\"https:\/\/twitter.com\/triton_one?ref_src=twsrc%5Etfw\">@Triton_one<\/a>, <a href=\"https:\/\/twitter.com\/SimpleHashInc?ref_src=twsrc%5Etfw\">@SimpleHashInc<\/a>, <a href=\"https:\/\/twitter.com\/phantom?ref_src=twsrc%5Etfw\">@phantom<\/a>, <a href=\"https:\/\/twitter.com\/solflare_wallet?ref_src=twsrc%5Etfw\">@solflare_wallet<\/a>, <a href=\"https:\/\/twitter.com\/solanalabs?ref_src=twsrc%5Etfw\">@SolanaLabs<\/a>, and <a href=\"https:\/\/twitter.com\/SolanaFndn?ref_src=twsrc%5Etfw\">@SolanaFndn<\/a>.<\/p>\n<p>\u2014 Solana (@solana) <a href=\"https:\/\/twitter.com\/solana\/status\/1643976207258783746?ref_src=twsrc%5Etfw\">April 6, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The new approach can, for example, be used to significantly reduce costs when issuing non-fungible tokens. According to John Wong of the Solana Foundation, creating 100 million \u201ccompressed\u201d NFTs would require only 50 SOL (~$1,000).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;This compression-friendly data structure allows developers to store a small on-chain data set, updating it directly in the Solana network. In doing so, the cost of storing data is significantly reduced without compromising security and decentralization,&#8221; said representatives of the project.<\/p>\n<\/blockquote>\n<p>The new solution has already been adopted by some ecosystem platforms, including Dialect and Crossmint. <\/p>\n<p>Earlier in February, <a href=\"https:\/\/u1f987.com\/en\/news\/solana-network-rebooted-after-validator-software-update-error\">Solana validators restarted the network twice<\/a> due to an error that caused a complete halt to economic activity on the blockchain.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana unveiled state compression technology that significantly reduces costs for on-chain operations.<\/p>\n","protected":false},"author":1,"featured_media":76817,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1213,1159],"class_list":["post-76816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-nft","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=76816"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76816\/revisions"}],"predecessor-version":[{"id":76818,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76816\/revisions\/76818"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76817"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}