Jupiter and Raydium, decentralized exchanges (DEXs) under the Solana umbrella, say the following.
With the inclusion of #XYO in the #Solana (decentralized finance) ecosystem and platforms like Jupiter and Raydium, any Solana or Mimcoin token holder [.... ]. trades seamlessly with XYO and has access to the DePIN data ecosystem, XYO co-founder Markus Levin told Cointelegraph on Nov. 1.1.
the Solana launch is part of a broader goal to make XYO available on multiple blockchain networks, Levin added.
XYO is a DePIN designed to validate location and other real-world data for Web2 and #Web3 projects.
According to XYO's website, it serves more than 8 million nodes in 150 countries.
DePIN is a blockchain protocol aimed at decentralizing real-world infrastructure and systems such as telecommunications networks, data storage and energy markets. According to a report published on Sept. 5 by #MV Global, the investment arm of Web3, DePIN is the next big use case for Web3 and could attract a significant number of new users to the cryptocurrency space.
According to MV Global, the ecosystem currently includes more than 1,000 projects with a total market capitalization of more than $50 billion. The low median transaction fee of $000064 makes Solana an attractive Tier 1 network for DePIN projects including Helium, io. net and Render, according to XYO.
Johannes Fuchs, an analyst at MV Capital, told Cointelegraph that Solana's strengths lie in its parallel processing architecture and low fees.
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