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Solana

Circle Launches 2-Phase Solana Integration With Major New Features

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Solana
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Peer-to-peer payments company and stablecoin (USDC) issuer Circle has announced its integration with the Solana (SOL) blockchain, bringing several important new features to its Web3 services. 

According to Wednesday’s announcement, the strategic move will enable Circle to offer programmable wallets and gas stations and allow developers and businesses to build and launch on-chain applications.

Advantages Of Circle’s Integration With Solana 

In the initial phase of the rollout, Circle will enable support for Programmable Wallets and Gas Station on the Solana blockchain. This entails the provision of essential application programming interfaces (APIs) that facilitate secure transfers of fungible tokens. 

Related Reading: Terraform Labs Reaches $4.47 Billion Settlement With US SEC

In addition, Circle’s approach will reportedly allow for the sponsorship of transaction fees on behalf of end users, with the ultimate goal of improving the overall user experience.

The announcement further disclosed that developers could focus on scaling their applications and business by abstracting away “technical complexities” like private key security, node infrastructure, transaction fees, onboarding, and authentication flows.

NFTs, Smart Contracts, And More

Looking ahead, Circle has ambitious plans for the second phase of the integration. This upcoming release will introduce support for non-fungible tokens (NFTs) and enable program interactions through the Smart Contract Platform. 

With these new features, developers are expected to have the tools to integrate NFTs into applications, opening up possibilities for brand loyalty programs, gaming experiences, and more. 

Additionally, the stablecoin issuer has stated that the ability to interact with and deploy custom programs on Solana will result in developers creating “unique and innovative” solutions on the blockchain. Circle further noted in the announcement: 

We’re committed to supporting the Solana developer community and providing them with the tools and resources they need to succeed. With this initial launch of Circle’s Programmable Wallets supporting the Solana ecosystem, we’re excited to empower Solana developers to build innovative applications that are secure, scalable, fast, and cost-efficient. Together, we aim to bring the benefits of blockchain to the masses.  

Interestingly, Circle is particularly enthusiastic about Solana’s widespread adoption of payment use cases, which it is alleged aligns closely with Circle’s mission to facilitate “frictionless” value exchange for “global economic prosperity.” 

Related Reading: Shiba Inu Sees 3,275% Spike In Burn Rate As Sentiment Improves, Time To Get Back In?

Overall, Circle’s integration with the Solana blockchain marks a significant milestone in the company’s journey to build a large and solid platform. By providing powerful tools and infrastructure, Circle aims to enable new developers and businesses to create superior on-chain applications while contributing to the broader growth of the Solana ecosystem.

Solana
The daily chart shows SOL’s price recovery. Source: SOLUSD on TradingView.com

At the time of writing, SOL is trading at $158, reflecting a 7% price increase over the past few hours. This rise aligns with a broader positive trend in the crypto market, indicating a renewed bullish sentiment.

Featured image from DALL-E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ronaldo Marquez

Ronaldo Marquez

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Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

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