How to Develop NFT on Solana

Today building of the NFTs project is on the Ethereum blockchain development. And for the solution like minting, selling, and buying NFTs, the Ethereum chain remains the most popular solution. Due to the general crowding of the network and the speedy growth of gas prices, many market participants are looking for alternatives. Thus, Solana(SOL) is one of the possible and very interesting alternatives.

Here, we will discuss the development of NFT on Solana, but at first, we have to know what exactly Solana blockchain is?

What is Solana Blockchain?

It is an open, decentralized blockchain network focused on providing scalability. It is without compromising transaction cost, decentralization, and security.

Moreover, it is a public blockchain platform founded by former Qualcomm, Intel, and Dropbox engineers in late 2017. Altogether, it is a faster, safer, and more censorship-resistant counterpart to Ethereum. That provides the open infrastructure required for global blockchain adoption.

In the world, Solana is one of the fastest blockchains that operates with a unique and innovative infrastructure. It provides a wealth of development tools to help developers to get started. Additionally, developers can integrate existing applications on other blockchains on the Solana blockchain. The powering of the consensus mechanism of Solana is by an improved Proof of Stake(PoS). The prime function of Solana PoS is Proof-of-History(PoH) protocol. Thus, it permits each node to make timestamps with SHA256 computations. Additionally, Solana for interior digital currencies eases p2p exchanges. Moreover, around 50,000 exchanges can perform per second.

Top Benefits of Solana for NFT

After the growth of Ethereum, Solana has become the second most popular NFT launch space, with many projects launched every day. Moreover, to meet a capacity of 700,000 transactions per second in the future, the Solana development team promises to do that. By comparison, the average transaction fee is $ 46 (December 2, 2021). Although, the efficiency of the Ethereum network is to process an average of 16.5 transactions per second. Thus, Solana is about 4,000 times faster and 185,000 times cheaper than Ethereum.

Benefits of developing Solana smart contracts

On Solana, it is cheaper to launch smart contracts and dApps.

Developers can create Dapps and port their Smart contracts for other WASM networks to Solana using the compiler.

For specific needs, developers can tailor their products.

The changing of code of Solana Smart contracts can be by software developers/owners following the requirements.

A large number of training materials.

It supplies high security.

Conclusion

It is one of the most up-to-date and advanced blockchains. To create a high-performance network with a low cost of tasks, the developers of this project manage it. Thus, it is without compromising the security of the platform. Moreover, if you wish to build your own NFT solution, then feel free to choose this blockchain and connect with Oodles blockchain development experts for more information.

Oodles Blockchain is the blockchain development arm of Oodles Technologies. We have rich experience in designing and developing robust blockchain solutions for businesses operating in diverse industries.