In a major breakthrough in blockchain technology, Solana’s head of strategy Austin FEDERA announced a new feature called ZK Compression. This innovative development promises to radically reduce the cost of on-chain accounts storage. The high cost of storing data on the blockchain has become a major obstacle for companies seeking to use blockchain technology for large-scale applications. Thus, thanks to ZK Compression, these costs are reduced, making it possible to connect millions of users to the blockchain.
Federa highlighted the staggering cost savings that come with generalized compression. For example, creating a 100-byte PDA account typically costs around 0.0016 SOL. When using ZK Compression, this cost drops to approximately 0.00001 SOL, which is 160 times cheaper. Likewise, the cost of creating 100 token accounts drops from approximately 0.2 SOL to just 0.00004 SOL, i.e. 5000 times less.
ZK Compression is not only about saving money. It also supports the high security and performance standards of the Solana blockchain. Moreover, the compressed data is stored securely on a cheaper ledger space, while execution and data availability remain on Solana’s L1. This ensures that users benefit from the same level of security and performance as before.
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