Helium Network : How Did Solana Mint 1M Helium Hotspots as NFT’s For $113 ?
During the Helium Network migration to the Solana blockchain 1M hotspots were minted as NFT’s.
According to Solana minting that many NFTs on the Ethereum mainnet would cost creators an estimated $33.6 million. Even with Solana’s cheap transaction fees it would typically cost an estimated $253,000 worth of SOL to mint 1M NFT’s.
Mind boggling as it is Solana minted 1M NFT’s for the cost of about 5 SOL tokens through the relatively new and innovative use of state compression.
Compressed NFTs are a new class of non-fungible tokens that utilize compression techniques to reduce the size of the digital assets they represent. By compressing the underlying data, these NFTs allow developers to store more information within the blockchain at a lower cost, while maintaining the integrity and uniqueness of the asset. This technology brings a new level of efficiency to the NFT space, helping developers manage and transfer digital assets more effectively.
