Light Protocol and Helius Labs have unveiled a new functionality designed to enable developers to create applications on Solana (SOL) on a large scale. Mert Mumtaz, CEO of Helius, a service for optimizing Solana developers, explains that the new ZK compression feature will reduce costs directly on the project’s layer-1 without the need for layer-2s. In summary, they are compressing on-chain state to achieve a 10,000x scale improvement and move closer to building The Financial Computer – an unstoppable, global, atomic state machine that syncs at the speed of light. For those who are not tech-savvy, developers can now build and scale anything they want directly on Solana without having to leave it. As an example of cost difference, an airdrop to 1,000,000 users would cost over $260,000 for state alone, but now it’s $50 – 5,200x cheaper. But a token account is just one example of this – *everything* on Solana is an account, meaning everything can be scaled. The Light Protocol claims that the feature will maintain “the security, performance, and composability of the Solana L1,” and the project mentions that the ZK compression testnet is now live. SOL is currently trading at $131.52. The crypto asset, which is ranked fifth by market cap, has risen by nearly 3% in the past 24 hours but has decreased by more than 2.5% in the past seven days. To receive email alerts directly in your inbox, subscribe and do not miss any updates. Follow us on Twitter, Facebook, and Telegram. Disclaimer: The opinions expressed at The Daily Hodl do not constitute investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is it an investment advisor. Please note that The Daily Hodl engages in affiliate marketing. Image generated by Midjourney.