{"id":228213,"date":"2024-06-25T17:06:19","date_gmt":"2024-06-25T17:06:19","guid":{"rendered":"https:\/\/newhampshiredigitalnews.com\/index.php\/2024\/06\/25\/solana-foundation-to-unlock-crypto-transactions-across-the-internet\/"},"modified":"2024-06-25T17:06:19","modified_gmt":"2024-06-25T17:06:19","slug":"solana-foundation-to-unlock-crypto-transactions-across-the-internet","status":"publish","type":"post","link":"https:\/\/newhampshiredigitalnews.com\/index.php\/2024\/06\/25\/solana-foundation-to-unlock-crypto-transactions-across-the-internet\/","title":{"rendered":"Solana Foundation to unlock crypto transactions across the internet"},"content":{"rendered":"


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Solana developers have developed two new tools to improve mass crypto adoption and unlock crypto transactions across several internet platforms.<\/p>\n

The Solana Foundation introduced \u201cActions\u201d and \u201cBlinks\u201d as pathways allowing users to broadcast cryptocurrency transactions to the SOL<\/a> blockchain from outside native decentralized apps or dapps.\u00a0<\/p>\n

Through Actions, users can settle on-chain swaps or transactions from any platform with a URL. The same can be executed on social networks and from QR Codes. Blinks builds upon a Farcaster<\/a> feature dubbed Frames to facilitate sharable links for supported Actions.\u00a0<\/p>\n

Solana Foundation\u2019s head of ecosystem engineering,\u00a0 Jon Wong, said<\/a> on Tuesday that Actions and Blinks will enable sending funds directly from a wallet like Phantom, NFT acquisitions on Tensor, voting on Realms proposals, subscribing to Acess Protocol newsletters and content, and crypto swaps on Jupiter exchange to name a few.\u00a0<\/p>\n

\u201cWe must reach the \u201cfirst billion\u201d users where they already are\u2014on their favorite apps and websites,\u201d Wong said, referring to solutions for onboarding a billion people to crypto. Other projects, such as Backpack, Cubik, Helius, Helium, Sanctum, and Truffle, also plan to test Solana\u2019s Actions and Blinks as the tools are introduced to end-users.\u00a0<\/p>\n

What could go wrong?<\/h2>\n

Since its inception, mass adoption and mainstream integration have been centerpieces of the decentralized thesis. For years, developers have debated and theorized how to propel on-chain utility to larger user bases safely.<\/p>\n

The conundrum has led several crypto startups to add support for Web2 entities like PayPal and strike partnerships with Visa. However, many have insisted that crypto truly going viral should happen via blockchain products fitted to market demand.<\/p>\n

Actions and Blinks may offer a gateway to achieving this, but concerns abound due to bad actors and a raft of crypto scammers prowling digital asset corridors.<\/p>\n

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Scam links are going to be even more accessible this cycle.<\/p>\n

Imagine the X account hacks.<\/p>\n

It’s going to get wild bros, and it’s all going to happen on Solana.$SOL<\/a> to $1000 https:\/\/t.co\/ojDwFE3RTe<\/a><\/p>\n

\u2014 dubzy (@dubzyxbt) June 25, 2024<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

As several users pointed out, allowing any website to serve as a launch point for crypto transitions on the Solana blockchain could expose user funds to phishing campaigns orchestrated by mimicking genuine platforms.<\/p>\n

Sharable links made possible by Blinks may also incentivize hackers to spread malicious URLs used to compromise private keys and drain assets.\u00a0<\/p>\n

As a working solution, development shop Dialect<\/a> disclosed a collaboration with Solana, Phantom, and other adjacent protocols for a public registry of Actions. It\u2019s unclear whether a Blink loophole mitigation strategy is also underway.\u00a0<\/p>\n

Could Solana be the everything chain?\u00a0<\/h2>\n

In the last 12 months, Solana<\/a> has solidified its position among top blockchains for its cheap transactions and easy-to-ship token standards. While both traits have served as a rallying cry for proponents insisting the network is primed for mass adoption, it has also strained the chain and caused downtime on several occasions.\u00a0<\/p>\n

Most of the congestion may be attributed to memecoins, which have witnessed an activity boom in recent months. Still, adoption has also reportedly raised<\/a> monthly active SOL addresses to a new all-time high of nearly 42 million.\u00a0<\/p>\n

Developers have also shipped fixes, bolstering the network\u2019s ability to maintain uptime without fail for several consecutive months. In the long run, observers like LinksDAO founder Mike Dudas believe on-chain improvements and product shipments like Actions may be pivotal for Solana and crypto adoption as a whole.\u00a0<\/p>\n

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This strikes me as an order of magnitude more important and likely to gain significant adoption in the near term than any other major Solana initiative I’ve seen before. https:\/\/t.co\/U99Ilkw221<\/a><\/p>\n

\u2014 Mike Dudas (@mdudas) June 25, 2024<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<\/div>\n