Solana

DeFi

Block

Million

Phantom

<ul>
 <li>Solana surpasses 30 million monthly active addresses, reflecting its growing user base.</li>  
 <li>Solana handles 65,000 transactions per second, showcasing its high scalability.</li>  
 <li>Over 1,000 NFT projects are active on Solana, highlighting its strong adoption in the NFT space.</li> 
</ul>  
<p>Solana has hit a new milestone by exceeding 30 million monthly active addresses. The milestone indicates the blockchain's rapid growth and increased engagement with users since its mainnet launch in 2020.</p>  
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<h2 class="wp-block-heading" id="h-expanding-network-capacity"><strong>Expanding Network Capacity</strong></h2>  
<p>Solana's focus on <a href="https://cryptonewsland.com/solana-optimistic-network-secures-strategic-funding/" target="_blank" rel="noopener noreferrer nofollow">scalability</a> has contributed significantly to its success. The network currently supports over 1,000 validators, a tenfold increase since its launch. Its network can process 65,000 transactions per second, which is a significant increase over its original capacity. Block times have been reduced to 400 milliseconds, indicating <a href="https://cryptonewsland.com/solana-surpasses-95-million-daily-transactions-leading-the-speed-race-among-top-30-blockchains/" target="_blank" rel="noopener noreferrer nofollow">continued growth</a> in speed.</p>  
<p>These advancements are the product of Solana's unique architecture, which incorporates Proof of History and parallel processing. Continued enhancements, such as tower BFT consensus and block propagation compression, aim to improve scalability even further.</p>  
<h2 class="wp-block-heading" id="h-increasing-user-engagement"><strong>Increasing User Engagement</strong></h2>  
<p>Another significant reason is the increased user activity on <a href="https://solana.com/" target="_blank" rel="noopener noreferrer nofollow">Solana</a>. Quarterly on-chain transactions have risen to more than $10 billion, a hundred times growth since 2020.</p>  
<p>The development is fueled by the use of DeFi protocols, <a href="https://cryptonewsland.com/tequila-token-to-launch-on-solana-blockchain-at-1700-utc-on-july-30-2024/" target="_blank" rel="noopener noreferrer nofollow">NFT projects</a>, and cross-chain bridges. Solana's reputation for quick transactions and low fees has attracted a large user base, which has contributed to its growing address list.</p>  
<h2 class="wp-block-heading" id="h-vibrant-developer-ecosystem"><strong>Vibrant developer ecosystem</strong></h2>  
<p>Solana's vibrant <a href="https://cryptonewsland.com/solanas-zk-compression-a-game-changer-for-blockchain-performance/" target="_blank" rel="noopener noreferrer nofollow">developer</a> community also helps to drive its growth. The blockchain now supports over 1,000 projects, including DeFi, NFTs, and Web3 applications. The Phantom Wallet SDK has gained substantial traction, stimulating the developer ecosystem.</p>  
<p>The combination of user engagement, developer activity, and network growth solidifies Solana's position as a top blockchain platform. Solana is on track to achieve even greater success as it innovates further.</p> 
<p>The post <a href="https://cryptonewsland.com/solana-sets-new-record-with-over/" rel="noopener noreferrer nofollow">Solana Sets New Record with Over 30 Million Monthly Active Addresses</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Solana Sets New Record with Over 30 Million Monthly Active Addresses

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