Advertisement
AD

Main navigation

Solana's Future Will Rely on These 4 Important Foundations: Developer Describes Them

Advertisement
Thu, 2/05/2024 - 9:02
Solana's Future Will Rely on These 4 Important Foundations: Developer Describes Them
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The CEO of Drip Haus, Vibhu Norby, has provided us with a detailed reflection of Solana's trajectory, providing insights into the platform's future. The past few months, from December to April, marked a period of intense activity for Solana, characterized by exhilarating highs and challenging lows. According to the CEO, Solana experienced a "huge wave," peaking at 160,000 daily active users (DAUs) and onboarding over half a million users during this period.

Advertisement

Despite the excitement, the influx led to significant congestion by early March, rendering the chain nearly unusable by month's end. This period was described as "sobering" for all decentralized applications (dApps) on Solana, prompting a rapid, or even rushed, development of scaling solutions which, under normal circumstances, would have taken an additional year to implement.

SOLUSD Chart
Solana/USD Chart by TradingView

What Solana really needs

Now, as Solana stands on the brink of a new phase, there are four key foundations that will determine its sustainability and growth:

Scalability solutions: The swift response to congestion issues by accelerating scalability solutions is critical. The ability to handle large volumes of transactions without significant slowdowns will be essential for maintaining user confidence and operational efficiency.

Related

Engagement metrics: The focus on "p5 DAUs" — a custom measure for highly engaged users — highlights the importance of not just attracting users but cultivating a base of dedicated ones. The CEO notes that Drip Haus has cultivated 25,000 highly engaged users daily, underscoring the potential for sustained growth.

Product quality: The improved quality of the product post-congestion issues has led to increased user satisfaction and retention. As the product evolves, maintaining high standards will be crucial for long-term success.

Community and vision:  Engaging with the community and being transparent are pivotal for rallying user support and creating a strong ecosystem.

Looking ahead, these foundations set the stage for what Norby describes as an exciting next few months. With some stability and new use cases, we might see Solana grow in the future.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD