作者:Lumos Ngok, Noah Ho, YuppieZombie
introduction
Solana's latest Blink feature instantly set off the crypto community. With its revolutionary design, this feature converts on-chain operations such as transactions, voting, payments, and coin minting into a shareable link, allowing users to directly complete complex on-chain interactions on social platforms such as Twitter without having to jump. The emergence of Blink has been hailed as "the most Web3 application", and some people even hope that it can truly build a bridge between Web2 and Web3. So, can this highly anticipated new feature really take on the responsibility? Or is it just another flashy little plug-in? This article will deeply analyze the potential and challenges of Blink and explore whether it can really lead the future of Web3.
Solana Overview
Solana is a Layer 1 public chain known for its high performance and equipped with smart contract functions. Since its inception in 2017, Solana has attracted attention for its high-performance features. In comparison, Ethereum, as the largest smart contract public chain, has only a few dozen transactions per second (TPS), while Solana can reach hundreds of thousands of TPS. This gives Solana a great advantage in efficiency and effectively solves the congestion problem of Ethereum.
Although Ethereum has the broadest ecosystem and extremely high total lock-in value (TVL), and its decentralization and security are widely recognized, the public chain trilemma (i.e., a public chain cannot simultaneously meet decentralization, security, and scalability) still exists. Ethereum has excellent performance in decentralization and security, so it has attracted a lot of funds, making it have the highest public chain TVL. However, Ethereum's scalability is low, resulting in low TPS, high gas fees, network congestion, and transaction failures. In some hot projects, such as the release of BAYC's Otherside land NFT, gas fees soared to exaggerated levels, the entire network was blocked, and other transactions could not be carried out.
The emergence of Solana solves this problem. By making moderate compromises in decentralization, scalability has been greatly improved, with transaction speeds reaching hundreds of thousands per second and gas fees reduced to a few cents. Solana was once considered an "Ethereum killer," with its native token price peaking at more than $240 in 2021. However, due to its relationship with SBF and FTX and multiple network outages, Solana plummeted by more than 90% in 2022, with the price of the coin falling to single digits.
In 2024, Solana has risen again and re-entered people's vision. Its coin price has risen several times from the lowest point of about $20 in just over half a year to the current level of more than $140, which has triggered widespread discussion. In 2024, many projects in the Solana ecosystem have become popular, including the infrastructure project Pyth Network, the Render Network migrated to Solana, the distributed GPU project IO.net, and the decentralized exchange Jupiter, which also airdropped tokens to users in 2024. In addition, Meme coins such as WIF, Bonk, Bome, Slerf, etc. are also popular in the community.
The success of a public chain is inseparable from good ecological projects and developer support. The above projects take advantage of Solana's high throughput characteristics, allowing users to interact and trade contracts at a lower gas fee without worrying about network congestion. Although Solana occasionally goes down, its token price and ecosystem are still performing well at present, especially the decentralized Internet of Things (DePIN) and Meme ecosystems are thriving.
The rise of Blink technology
The current community generally believes that Web3 needs more fresh blood, and people are tired of the long-term internal slashing. The high threshold and low popularity of Web3 often become constraints to achieving this goal. Developers are also working hard to lower the threshold for development and use through infrastructure construction, while enriching application scenarios.
In our previous article, "The Mini Program Revolution: Telegram Mini Program's Journey to Web3", we introduced the important role of Telegram Mini Program as a bridge from Web2 to Web3. Through the easy spread of social software, rich mini program lightweight applications, and simple Ton contract interaction, Telegram has opened the door to Web3 for many Web2 users.
Recently, Solana has also launched its new feature Blink. Blink integrates on-chain operations into any website by embedding web pages, allowing users to complete preset on-chain operations without jumping. In the past, on-chain operations usually required access to the DApp webpage operated by the project party. If the information was seen from a third-party platform (such as social media), the user had to jump to the project party's website to perform on-chain operations and contract interactions. This increases the threshold and difficulty of DApp dissemination.
The emergence of Blink allows developers to embed on-chain contract operations anywhere. For example, on social platforms such as X, Blink can increase the spread rate and make it easier to go viral. For developers, they can create one-time on-chain operations with a lower threshold, such as voting on a proposal on X. Developers can quickly create interactive links and easily publish them to X or embed them in other websites, greatly improving user experience and ease of operation.
Blink is an innovative technology developed by Dialect Labs that focuses on information transmission through smart contracts. Dialect Labs completed a multi-million dollar seed round of financing in 2022, providing it with strong financial support. Before we delve into Blink, we need to first understand Solana Action, an API that complies with the Solana specification, containing content such as titles, descriptions, pictures, and transaction signing and sending functions. By calling this API, you can get the content written by it and sign and send the built-in transactions.
The core function of Blink is to convert the Solana Action code into a visual link. This link can not only be displayed on the website and send on-chain interaction requests, but can also be embedded in third-party websites. From the developer's perspective, they only need to encapsulate the required content and on-chain operations into the Solana Action, submit the code and pass the review, and then they can get the Blink link. This link can be shared and embedded on any website, especially on social media platforms that are easy to spread, such as X (formerly Twitter), Instagram, and Discord.
On social media, this embedded webpage will display the encapsulated information, and users can directly click the button to trade. From the user's perspective, they only need to click on the shared Blink page, or enter the required parameters and click the preset button to wake up the browser wallet plug-in to sign and send the transaction. For example, the following figure shows a Blink page for sending Sol, which has been written with instructions to send Sol to a specific address. The user only needs to enter the amount and press the send button to complete the Sol transfer operation. This method greatly simplifies the user's operation process and improves the convenience of interaction.
The emergence of Blink has greatly reduced the difficulty of developing DApp interactions, and at the same time improved the dissemination ability by embedding it in websites. For users, this method reduces the trouble of frequent page switching and allows all operations to be completed on one page. Currently, the Blink function has been launched on social media platforms such as X, and has aroused widespread discussion and developer attempts. Blink makes on-chain operations easier to spread and gain more exposure, but it also has some unresolved issues.
The first is the potential security issue. Although the Blink link has been audited, the audit is not strict, and the possibility that malicious people encapsulate phishing transactions into Blink links and spread them widely cannot be ruled out. Secondly, Blink transactions still rely on browser wallets and EOA (Externally Owned Account) account management. After clicking on the preset transaction, the user still needs to call the browser wallet to sign and send it. At the same time, this requires the user to have a private key wallet, and the threshold has not been lowered. In order to further attract users, it may be necessary to improve the wallet infrastructure, including abstract account wallets and custodial wallets. In addition, the mobile terminal needs to be adapted, which still depends on more blockchain infrastructure.
Compared to Telegram’s applet, which introduced Web2 users to Web3 with a low threshold, Solana adopted a different strategy through Blink. Telegram’s applet relies on the social program of hundreds of millions of users within Telegram, while Solana does not have its own social media, so Blink is used to embed contract operations into existing social media or other websites for dissemination and traffic. Secondly, the two have different carriers. Telegram’s applet is more of a mobile or client terminal, while Solana Blink is mainly for desktop web terminals. Finally, Telegram’s built-in wallet and custodial wallet lower the threshold for users to use wallets, while Solana has not made any improvements in this regard for the time being.
Blink's application scenario prospects
The technical foundation of Blink is Solana Actions, a standardized API standard that allows developers to convert Solana's various interactions into interactive buttons on social media platforms. Blinks is compatible with multiple formats such as links, QR codes, push notifications, messaging apps, etc., and has derived a wealth of application scenarios. These application scenarios include but are not limited to the following aspects:
advertise
Blink’s application in the advertising field can provide advertisers and users with a new way of interaction. The following are possible specific ways:
Direct interaction: Blink allows users to interact directly with ads on social media. For example, by clicking a link or button in a tweet, users can directly participate in the activities in the ad, such as receiving coupons, participating in a sweepstakes, or purchasing products directly.
Improve conversion rates: Blink can improve conversion rates by simplifying the steps for users to engage with ad campaigns. Users can complete transactions or participate in activities without leaving the social media platform, and this seamless experience helps increase user engagement.
Enhanced advertising effectiveness: Advertisers can use Blink technology to display richer advertising content, such as coupon distribution, product trials or limited-time discount activities verified by blockchain technology, to increase the attractiveness of advertising.
Real-time feedback and analysis: Blink can provide advertisers with real-time user feedback and interaction data, helping advertisers analyze advertising effectiveness and optimize advertising strategies.
Innovative advertising formats: Blink can support new advertising formats, such as blockchain-based gamified advertising, interactive story advertising, etc., to provide users with a more interesting advertising experience.
game
Blink technology can not only enhance the game experience of players, but also provide game developers with new business models and community interaction methods. The following are possible specific methods:
Direct in-game purchases: Players can purchase in-game items or currency directly on social media through Blink technology without having to jump to other payment platforms or pages.
Simplified login process: Players can use Blink technology to quickly connect their blockchain wallets as a way to log in and authenticate the game, simplifying the registration and login process.
Social sharing incentives: Game developers can use Blink technology to encourage players to share game content on social media, such as obtaining in-game rewards or special props through sharing.
In-game event participation: By embedding Blink on social media, players can participate in various in-game activities, such as competitions, voting, or community decisions, directly in their tweets.
Enhanced game interactivity: Blink can be used to create interactive ads or game trailers where viewers can interact directly with the content, such as booking a game beta or registering for an event.
Community-driven game design: Using Blink, game developers can collect feedback and vote from the community directly on social media to influence the direction of game development and updates.
Game achievements and rewards: Players’ interactions on social media can be converted into in-game achievements or rewards, encouraging players to be active on social media and promote the game.
Tips
Blink technology can provide a modern, efficient and user-friendly solution for tipping and creator tipping, helping to motivate creators to produce more high-quality content and strengthen connections with fans. At the same time, it also provides fans with a way to directly support their favorite creators. The following are specific possible applications of Blink in tipping and creator tipping:
Instant Rewards: Viewers or readers can reward their favorite content directly on social media without going through a third-party payment platform. Blink technology can realize instant on-chain transactions.
Increase interactivity: Creators can embed Blink reward buttons in their content, and viewers can reward directly by clicking the button, increasing the interactivity of the content.
Creator Incentives: Blink can be used to incentivize creators to produce more high-quality content and encourage creators to continue creating through direct financial support.
Customized Rewards: Creators can customize reward options according to their needs, such as setting different reward levels and corresponding rewards or privileges.
Social e-commerce
Blink technology can bring a more convenient, secure and personalized shopping experience to social e-commerce, while also providing merchants with new marketing channels and ways to interact with customers:
Product Showcase: Brands and merchants can showcase products on social media and add buy buttons through Blink technology, allowing users to complete transactions directly in tweets or posts.
Simplify transaction processes: Blink technology can integrate payment and transaction confirmation processes, making users' shopping experience on social media smoother and more convenient.
Social proof shopping: In a social e-commerce environment, friends’ recommendations and purchases can greatly influence users’ purchasing decisions. Blink allows users to see their friends’ purchases and quickly follow up with purchases.
Incentivized sharing: Merchants can use Blink technology to incentivize users to share product links, such as by providing discounts, cash back or points to sharers and buyers.
Personalized recommendations: By combining users’ social media behavior and purchase history, merchants can provide personalized product recommendations through Blink technology.
Support digital goods transactions: In addition to physical goods, Blink technology is also applicable to transactions of digital goods such as e-books, music, virtual goods, etc.
In general, Solana Blink demonstrates the potential of blockchain technology in social media applications and provides new possibilities for user interaction, but it also requires more consideration and optimization in terms of security and user experience. The security of smart contracts, user privacy protection, transaction verification and fraud prevention are all areas that need to be focused on. In addition, Blink's success also depends on the innovation ability and market appeal of the Solana ecosystem, as well as the integration of technology and the market.
Blink: Is socialization the only way for Web3 to break out of the circle?
If we review the development trends of the cryptocurrency industry in recent years, we can find that many projects have chosen the socialization route. The universality of social needs makes social applications always attract a large number of users, and embedding on-chain operations on social media and lowering the threshold for operation do have the potential to become a breakthrough for the large-scale application of Web3 technology. However, is socialization really the only way to break out of the circle? In order to explore this issue in more depth, we will provide several other cases for comparison:
Farcaster
Farcaster is a decentralized social protocol that uses a modular design to allow developers to build various social applications. As a decentralized social network based on Ethereum, Farcaster is committed to providing users with a social environment that is not controlled by a centralized platform. Its core features include:
Decentralized identity system
Open data formats
Multi-client support
Off-chain data storage, on-chain verification
Farcaster showed how Web3 social platforms can solve the need for decentralization through technological innovation. Next, let’s look at another exploration in the social field - Lens Protocol.
Lens Protocol
Lens Protocol is a social graph protocol built on the Polygon network. It tokenizes users’ social relationships and realizes the programmability of social assets. Its main features include:
NFT-based profiles
Transferable attention relationship
Modular content monetization mechanism
Lens Protocol provides new possibilities for Web3 social networking by tokenizing social relationships. In contrast, TON deeply integrates cryptocurrency with social networks.
TON
Although TON was originally developed by the Telegram team and later turned to community maintenance, it still represents an innovative attempt to combine cryptocurrency with social networks. By embedding wallets and decentralized applications in Telegram, TON allows users to make crypto payments and transactions while interacting socially. This integration not only improves user convenience, but also promotes the popularization of Web3 technology on mainstream social platforms. TON's design concepts include:
High-performance multi-shard blockchain
Integrate payment and social functions
Lightweight Client
These cases show the diverse exploration of Web3 social, and each platform has its own unique technical route and value proposition. Although they each use different ways to achieve socialization, they all reflect a common trend: Web3 social has huge market opportunities.
However, to truly meet the needs of the general public, Web3 social networking still faces many challenges:
User experience: Most current Web3 social platforms still lag behind traditional social media in terms of user-friendliness. Complex wallet management and high gas fees are still obstacles for ordinary users.
Scalability: Despite the availability of Layer 2 solutions, handling high-concurrency social interactions on a global scale remains a technical challenge.
Regulatory compliance: The decentralized nature makes it difficult for Web3 social platforms to implement traditional content review and user management, which may cause regulatory issues.
Ecosystem construction: Web3 social requires a prosperous developer ecosystem to create rich applications and content, but the current developer base is relatively limited.
User education: The concept of Web3 is still unfamiliar to most users, and a lot of educational work is needed to cultivate user habits.
Balance between privacy and anonymity: How to protect user privacy while preventing the platform from being abused for illegal activities is an issue that requires careful consideration.
The development prospects of Web3 social
Despite the challenges, Web3 social still has a bright future, especially in the following areas:
The rise of social finance (SocialFi): Web3 social has the potential to seamlessly combine social interactions with financial activities to create new models of value exchange. For example, innovative applications such as reputation-based lending and social tokenization may emerge.
Integration of Metaverse and Web3 Social: With the development of the concept of Metaverse, Web3 social may become an important link between the real world and the virtual world, providing users with an immersive social experience.
Popularization of decentralized autonomous organizations (DAOs): Web3 social platforms may become incubators and operation centers for DAOs, promoting the development of new organizational forms.
Innovation in content creation: Through mechanisms such as NFT and tokenization, Web3 social is expected to reshape the incentive model for content creation, enabling creators to better benefit from their works.
Cross-platform identity and reputation systems: As decentralized identity technology matures, users may have a unified identity and reputation across different platforms, enhancing the consistency of the social experience.
Other possible paths out of the circle
Although socialization is an effective way for Web3 to go viral, it is not the only way. Here are some other possible ways to go viral:
Decentralized Finance (DeFi): DeFi has shown strong appeal among specific groups and has attracted widespread attention in the financial market by providing innovative financial services such as lending, trading, and wealth management.
Games and Entertainment: The blockchain game and NFT art markets show great potential, attracting a large number of young users and game enthusiasts by applying blockchain technology to games.
Enterprise applications: B2B applications such as supply chain management and digital identity may bring major breakthroughs. Blockchain technology has significant advantages in enterprise applications, such as improving transparency and reducing fraud.
Public services: The adoption of blockchain technology by governments and the public sector could have wide-ranging impacts, for example in public services such as elections and land registries.
Internet of Things (IoT): Combining blockchain technology and IoT to achieve interconnection and data sharing of smart devices, and improve the security and efficiency of IoT systems.
summary
Although socialization is indeed an important way for Web3 technology to connect with the public, a single path is difficult to meet complex market needs. The true popularization of Web3 technology may require the joint promotion of multiple fields. In the future, we may see the deep integration of social, financial, entertainment and other functions on the Web3 platform to create a new application form. For example, SocialFi combines social interaction with financial services to provide users with more opportunities for value exchange.
in conclusion
The launch of Blink marks an important step for Solana in the field of Web3 socialization. By simplifying on-chain operations and seamlessly embedding into social media platforms, it has shown great potential and may become a key tool to connect Web2 and Web3. However, although the path of socialization has attracted much attention and can indeed attract a large number of users, the real popularization of Web3 technology cannot rely solely on socialization. As shown by cases such as Farcaster, Lens Protocol and TON, the future development of Web3 requires multi-field and multi-dimensional progress and innovation. From decentralized finance (DeFi) to the Internet of Things (IoT), Web3 technology must explore breakthroughs in multiple application scenarios to achieve comprehensive popularization and widespread application. Although Blink provides an important opportunity for the socialization of Web3, security, user experience and ecosystem construction will still be the key factors to determine success on this development path. In the future, with the rise of new concepts such as SocialFi and Metaverse, we may see more unprecedented integrated applications, and Blink may also play a more important role in this change.
