Jump Crypto To Make Solana Validator Client Software To Enhance Performance

Jump Crypto To Make Solana Validator Client Software To Enhance Performance
Blockchain News
Like? Do Rank It! Likes

Solana network and Jump Crypto has recently collaborated to improve Solana network’s stability.

Solana network especially this year has fallen prey to numerous network outages and congestion which has frequently caused slowing down of the network.

Jump Crypto, a Web3 infrastructure developer and investor has decided to partner its efforts in order to improve decentralization and help uplift the overall performance of the Solana network.

Jump Crypto will now be creating an validator client software for the blockchain platform.

This open-source validator client is called Firedancer and it will be based on the C++ programming language.

The software shall be providing an alternative to Rust-based software that drives the present validator client run by Solana network.

Jump Crypto is a reputed player in the industry and is a subsidiary of Chicago-based Jump Trading. It has notable investments spread across the industry which also includes Solana related projects.

Jump Crypto Calls The Initiative “Wildly Ambitious”

President of Jump Crypto, Kanav Kariya has called the validator client initiative “wildly ambitious”. Chief Science Officer of Jump Trading, Kevin Bowers, is presently overseeing the development of the new validator client.

Kevin Bowers stated,

Through Jump’s decades of work in solving some of the most complex networking challenges across traditional financial markets, we have seen first-hand the impact that improving a network’s speed and efficiency can have on an entire financial system. Now, given the relatively slow speeds and unreliability of blockchain networks, an incredible opportunity exists to transform the functionality and efficacy of these networks

For those unversed, validators play a very vital role in proof-of-stake blockchains such as Solana. It helps attest the genuinity of the transaction which are attached to the blockchain.

For someone to act as a validator they are required to own a requisite amount of Solana’s native currency referred as SOL and validate in a way which benefits the network.

Various Solana validators such as COINBASE Cloud and Jump Crypto too have been known to offer staking services which allows smaller users to add SOL to the validator’s pool.

This way they also get an opportunity to earn shared rewards of the validators for providing the service.

Related Reading: By the Numbers: The Signs Bitcoin Miners Are Done Selling

Increasing Solana Network’s Throughput

The aim of Firedancer is to enhance and increase Solana network’s throughput which is the rate at which transactions are processed. This increase in Solana network’s throughput will positively affect the efficiency and resilience over the next one year with increases within the same time frame.

Solana spokesperson quoted,

In plain language, Solana Labs has an engineering team that is solely focused on building what has been the only software in the world that is capable of running the Solana network. Now there will be a second entire initiative that will be able to coexist and run the Solana network as well.

In the announcement about the new validator client, Jump Crypto said that this project had a goal to accelerate the adoption of Solana by bringing in more technical improvements on its network.

It is a matter of time till the above claims about the network’s efficacy are proved to be true considering Solana Lab’s frequent numbers of downtime might decrease.

Related Reading: Why Google Has Invested $1.5 Billion In Crypto-Focused Companies
Bitcoin was priced at $23,400 on the four hour chart | Source: BTCUSD on TradingView
Featured image from Bloomberg, chart from TradingView.com
California State Kills Main Crypto Bill, Why?
flow
2 hours ago

One of the pressures in the crypto market is regulation. Many countries' regulators are consistent in supporting the control and monitoring of crypto assets. These regulators always create laws to...

Ethiopian Crypto Providers Will Now Need To Register With CyberSecurity Agency
24 hours ago

Cryptocurrency service providers that are operating in Ethiopia have been instructed to register with the nation’s cybersecurity agency. The cybersecurity agency is called the Information Network Security Administrative (INSA). INSA is the agency in charge of Ethiopia’s cybersecurity department, which will start to register cryptocurrency services and transfer providers in Ethiopia. Service providers after the […]