Circle integrates Solana for programmable wallets, enhancing asset management automation.
Solana sees record activity with 41.5M active addresses, indicating robust growth and adoption.
Solana prepares for Firedancer upgrade 2025 to boost scalability and reliability.
Circle, the Web3 service giant, has officially announced its expansion into the Solana blockchain ecosystem, in what has been seen to be a boost in the decentralised finance space enabling features such as programmable wallets and gas stations.
Integrating Solana with Web3 Services
Circle’s decision to integrate Solana into its Web3 services will occur in two distinct phases. The initial phase, set to commence immediately, will focus on introducing programmable wallets.
These wallets empower developers to automate asset management through predefined rules alongside sponsored transaction fees using Circle’s gas station feature. This phase aims to streamline on-chain application development and accessibility.
1/ It’s official: Programmable Wallets now supports @solana!#Devs building on Solana can now embed secure, frictionless wallets tailored to their apps and sponsor transaction fees to streamline user experience.Learn more about the unlocked benefits. https://t.co/YRj8dqGbW9
— Circle (@circle) June 12, 2024
In the subsequent phase, Circle plans to expand support for non-fungible tokens (NFTs) and enable programmatic interactions via the Smart Contract Platform on Solana. This move aligns Solana with other major blockchains supported by Circle, including Ethereum, Polygon, and Avalanche.
Solana’s Growth Trajectory
Solana has experienced a surge in activity, highlighted by a record-high of 41.5 million active addresses in May, according to Hello Moon. This growth underscores the blockchain’s robust developer community and increasing adoption across various sectors.
To meet escalating demand, Solana is preparing for significant upgrades, notably the Firedancer upgrade scheduled for 2025, aimed at enhancing scalability and eliminating network downtime.
“We are very focused on getting Firedancer up and running,” Kuleen Nimkar, the DePIN lead for the Solana Foundation, stated in a recent interview. With Jump Crypto, Solana’s independent validator client is being created.
PayPal was one of the latest companies to support Solana’s ecosystem. The fintech company integrated its stablecoin, PayPal USD, on May 29 in an effort to make it more useful for daily transactions.
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