Home Crypto News Solana Introduces Global Crypto Transaction Feature

Solana Introduces Global Crypto Transaction Feature

26 Jun, 2024 Crypto News

Solana Introduces Global Crypto Transaction Feature

The Solana Foundation is launching a new feature that will allow its blockchain to be accessed from any website via a shareable link.

On June 25, the foundation announced the release of Solana Actions and blockchain links, or "blinks," which let any website capable of displaying a URL facilitate a Solana transaction.

This new tool will enable a clickable link to present an interface for executing a Solana transaction.

For example, envision posting a link on X that lets users conduct a crypto transaction directly on X’s website.

This functionality could support activities like crowdfunding, online purchases, and onchain voting.

"From your X feed you can buy a NFT, tip a creator, receive money, vote, stake, swap and so much more," stated Chris Osborn, the founder of Dialect.

Dialect provides the development tools for Actions, including forkable, self-hosted interstitial signing sites and software development kits, a Solana Foundation spokesperson informed Cointelegraph.

Blinks can be shared through websites, social media, or even physical QR codes.

Jon Wong, head of ecosystem engineering at the Solana Foundation, mentioned that Actions and blinks on Solana transform any site or app into a hub for onchain interactions.

The Solana Foundation is also introducing safety features for these new tools, giving users the option to activate wallet support for Actions and blinks.

“Actions and blinks are similar to ‘connecting’ your wallet to DApps [decentralized applications] - trust the sites you know and use, just as you trust the DApps you know and use,” said a spokesperson.

The foundation explained that when a wallet interacts with an unfamiliar application programming interface or API for the first time, users will see a standard “connect to site” prompt.

“If the site domain has been connected to the wallet in the past, the site domain is more likely to be trustworthy. As with DApps, Action transactions are always simulated prior to execution,” the team noted.

To bolster security, the introduction of this feature will initially involve whitelisted domains from Solana’s partners, including Jupiter, Helium, Truffle, Phantom, and Backpack.

The Solana blockchain has experienced increased activity recently, becoming a popular platform for memecoins and decentralized infrastructure due to its lower fees.

A recent report by Pantera Capital highlighted that in May, Solana accounted for over 60% of the new volume in decentralized exchanges.

“By May 2024, Solana accounted for 85% of all new tokens appearing on DEXs, up from 50% a year ago.

This rise in Solana-based tokens reflects its strength in retail usage, driven by memecoin activity,” the report detailed.

Sources:

https://cointelegraph.com/news/new-solana-feature-allows-crypto-transactions-any-website

https://coinpaper.com/4618/solana-foundation-unveils-shareable-links-for-seamless-transactions

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