LIVECoinGecko reported Solana is the fastest-chain of the lot, processing thousands to millions of memecoin transactions.
On the other hand, developers have rugged several users through SOL memecoins, and celebrities are now backing memetic projects, adding further fuel to the craze. “We didn’t do anything to make that happen. It’s just a thing to do” said Gokal on the final day of Consensus 2024.
Celebrities are launching memecoins on Solana. Not on other chains like Ethereum Solana is undervalued. Solana became fastest blockchain amid meme coin craze
Solana targets grass root adoption with Saga Mobile
According to Gokal, the boom of mobile crypto apps like StepN in 2021/2021 was a precursor for the Saga Mobile device. Placing blockchain operability and crypto utility in users’ hands offered a new way to push mass adoption, the founder explained.
New validator set to 1000x transaction capacity
Gokal confirmed work on a second validator client set dubbed Fire Dancer. The initiative is supposed to increase Solana’s transaction throughput up to 1,000 times, boosting speeds to 5,000 – 10,000 transactions per second (TPS).
Currently, Solana boasts as high as 1,053 TPS, but its theoretical speed may reach 65,000 TPS with scaling and upgrades. The team behind staking protocol Jito is also developing a third validator set focused on Maximal Extractable Value commonly known as MEV.