Solana Foundation to unlock crypto transactions across the internet

Solana developers have developed two new tools to improve mass crypto adoption and unlock crypto transactions across various internet platforms.

Solana Foundation introduced “Actions” and “Flashes” as ways to allow users to broadcast cryptocurrency transactions from outside native decentralized applications or dapps to the SOL blockchain.

Through Actions, users can perform on-chain swaps or transactions from any platform with a URL. The same can be done on social networks and from QR Codes. Blinks is based on a Farcaster feature called Frames to facilitate shareable links for supported Actions.

Actions and Blinks will allow sending funds directly from a wallet like Phantom, purchasing NFTs on Tensor, voting on Realms offerings, subscribing to Acess Protocol newsletters and content, and crypto exchanges, Jon Wong, head of ecosystem engineering at the Solana Foundation, said Tuesday. He said he would provide it. Jupiter change are a few of them.

“We need to reach the ‘first billion’ users where they are already, on their favorite apps and websites,” Wong said, referring to solutions to onboard a billion people with crypto. While other projects such as Backpack, Cubik, Helius, Helium, Sanctum and Truffle are also rolling out tools to end users, Solana He plans to test ‘s Actions and Winks.

What could go wrong?

Since its inception, mass adoption and mainstream integration have been the focus of the decentralized thesis. For years, developers have debated and theorized about how to securely deliver on-chain service to larger user bases.

This impasse has led many crypto startups to add support to Web2 organizations like PayPal and partner with Visa. But many insisted that for cryptocurrency to truly go viral it would have to happen through blockchain products that fit market demand.

Actions and Winks may offer a gateway to achieve this, but concerns abound due to bad actors and a host of crypto scammers prowling the digital asset corridors.

Scam links will be even more available this cycle.

Imagine account X has been hacked.

Things are going to get crazy and it’s all going to happen in Solana.$LEFT Up to $1000 https://t.co/ojDwFE3RTe

— dubzy (@dubzyxbt) June 25, 2024

As several users have noted, allowing any website to serve as a starting point for crypto migrations on the Solana blockchain could expose user funds to phishing campaigns orchestrated by impersonating real platforms.

The shareable links enabled by Blinks can also encourage hackers to spread malicious URLs used to compromise private keys and consume assets.

As a working solution, development shop Dialect has announced a collaboration with Solana, Phantom and other adjacent protocols for publicly recording actions. It is unclear whether a Blink gap reduction strategy is also in progress.

Can Solana be a chain of everything?

Over the last 12 months, Solana has solidified its position among the top blockchains due to its cheap transactions and easy-to-move token standards. While both features served as a rallying cry for advocates who insisted the network was ready for mass adoption, they also strained the chain and caused disruptions in many cases.

Much of the congestion can be attributed to memecoins, which have seen an explosion of activity in recent months. Yet adoption has also reportedly increased monthly active SOL addresses to an all-time high of nearly 42 million.

Developers also shipped fixes that strengthened the network’s ability to maintain uninterrupted uptime for several consecutive months. Long term, observers like LinksDAO founder Mike Dudas believe that on-chain improvements and product shipments like Actions could be crucial to Solana and crypto adoption as a whole.

This strikes me as much more significant than other major Solana initiatives I’ve seen before, and likely to see significant adoption in the near term. https://t.co/U99Ilkw221

— Mike Dudas (@mdudas) June 25, 2024