ChainCatcher news, Solana announced the launch of state compression, a new method of storing data on Solana that can significantly reduce costs. Compressing NFTs using state compression for the first time reduces the cost of minting NFTs on Solana by 2,400-24,000x. As of April 5, minting 1 million uncompressed NFTs on Solana costs more than $250,000.

The cost of minting an NFT using state compression is about $110. State compression allows developers to store small amounts of data on-chain using Merkle trees and update directly in the Solana ledger, reducing data storage costs while still using the security and decentralization of the Solana base layer. Teams in the Solana ecosystem are already using state compression. (Source link)