Circle supports the Solana blockchain through its Web3 services, enabling features such as
Circle supports the Solana blockchain through its Web3 services, enabling features such as programmable wallets and gas station.
The integration will take place in two stages. According to a June 12 announcement, the first phase will focus on programmable wallets – allowing developers to automatically manage assets based on predefined rules – and transaction fees supported through its gas station feature.
The second phase will include support for non-fungible tokens (NFTs) and software interactions through the smart contract platform, Circle said. The move will bring Solana in line with other blockchains already supported by Circle’s Web3 services, such as Ethereum, Polygon, and Avalanche.
Programmable wallets can be configured to automatically interact with smart contracts. This means that tasks that normally require manual execution, such as executing trades when certain conditions are met, can be automated.
Other companies focusing on wallet programmability on Solana include Fuse Wallet, according to the June 10 announcement. Based on intelligent calculations, the wallet supports programmability and promises to resolve seed phrase dependency, limited asset recovery options, and restricted rule customization. and parameters of on-chain interactions.
Solana in 2024
Over the past few months, Solana has seen an increase in activity and several integrations with other protocols. The number of active addresses on the Solana blockchain reached a record high in May, at 41.5 million, according to Hello Moon.
“The Solana developer community has seen significant growth,” Circle said of the reasons behind blockchain support.
To meet growing demand, the network is gearing up for major improvements, including a Firedancer upgrade planned for 2025. This upgrade promised to improve Solana’s scalability and eliminate downtime from network. During the last power outage, Solana was out of work for about five hours.
“One thing is we’re very focused on getting Firedancer live,” said Colleen Nimkar, head of DePIN at the Solana Foundation, in a recent interview with Cointelegraph. Solana’s independent verification client is developed using Jump Crypto.
PayPal was one of the last companies to support the Solana ecosystem. The fintech company integrated its stablecoin, PayPal USD (PYUSD), on May 29 in an effort to make it more useful for everyday transactions.
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