Solana Labs COO Raj Gokal has praised the recent Visa pilot program that uses the Solana blockchain to settle transactions in USDC, a stablecoin pegged to the US dollar. In a blog post published on Wednesday, Gokal said that the pilot was a “big step” for digital payments and showed the potential of Solana’s fast, scalable and low-cost network.
Gokal explained that Visa chose Solana because of its high performance and low fees, which enable millions of transactions per second at fractions of a cent. He also highlighted Solana’s compatibility with Ethereum, the leading smart contract platform, and its support for various applications and use cases in the crypto space.
Gokal said that the pilot was part of Solana Labs’ vision to create an open, interoperable and decentralized web, where anyone can build and use applications that empower individuals and communities. He added that Solana Labs was working with other partners and developers to bring more innovation and adoption to the Solana ecosystem.
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Gokal concluded by saying that he was excited about the future of digital payments and the role that Solana could play in it. He said that Solana Labs was committed to working with Visa and other industry leaders to make payments faster, cheaper and more accessible for everyone.
Solana is a fast, scalable, and low-cost blockchain platform that supports smart contracts, decentralized applications, and interoperability with other chains. Solana can process over 50,000 transactions per second with sub-second finality and minimal fees, making it ideal for high-performance applications that require speed and efficiency.
Are you a developer looking for a challenge and a chance to win big? If so, you might want to check out the Solana hackathon, a global online event that will award up to $1 million in prizes and funding to the best projects built on the Solana blockchain.
The Solana hackathon is open to anyone who wants to build something amazing on Solana, whether you are a beginner or an expert, an individual or a team. You can choose from four tracks: DeFi, Web3, Gaming, or NFTs. Each track has its own set of challenges, mentors, judges, and prizes. You can also submit your project to multiple tracks if it fits the criteria.
The hackathon will run from September 15 to October 15, 2023. You can register for free on the official website and join the Discord server to connect with other participants, mentors, and organizers. You will also get access to tutorials, workshops, and resources to help you get started with Solana development.
The hackathon will culminate in a demo day on October 22, where the top projects from each track will present their work to a panel of judges and a live audience. The judges will select the winners based on the following criteria: innovation, functionality, design, impact, and scalability. The winners will receive cash prizes ranging from $5,000 to $50,000, as well as potential funding opportunities from Solana Labs and other partners.
The Solana hackathon is a great opportunity to showcase your skills, learn new technologies, network with other developers, and contribute to the growth of the Solana ecosystem. Don’t miss this chance to build the future of blockchain with Solana.