Xandeum Launches Solana Scaling Solution, XAND Token, Liquid Staking Ready for Launch at Breakpoint 2024
Alyssa Davidson
Posted: September 19, 2024 at 6:00 PM Updated: September 19, 2024 at 4:35 AM
Editing and fact checking: September 19, 2024, 6:00 p.m.
Briefly
Xandeum plans to unveil its blueprint for Solana storage expansion at the Breakpoint 2024 Solana conference in Singapore on September 20.
Blockchain storage layer Xandeum has announced that it plans to unveil its blueprint for Solana (SOL) storage expansion at the Breakpoint 2024 Solana conference in Singapore on September 20. It will also provide insight into its new storage-backed liquidity staking program and officially launch the XAND token.
“Storage is one of the most valuable blockchain resources, especially as dApps become more sophisticated in terms of the use cases and data they support,” Bernie Blume, founder and CEO of Xandeum Labs, told MPost. “Xandeum doesn’t just improve on-chain storage; it solves it effectively, giving developers access to virtually unlimited file storage while maintaining the strong decentralization inherent to the overall value proposition of blockchain,” he added.
Developed to address the limitations of Solana’s existing storage model, Xandeum’s technology aims to enable decentralized applications (dApps) to scale by providing access to virtually unlimited storage. Solana can be viewed as a “world computer,” with Solana accounts acting as “RAM.” At Breakpoint 2024, Xandeum presents a vision of completing the framework of a comprehensive world computer by incorporating “hard drives” with a scalable storage layer. This advancement is expected to accelerate the scaling of storage-enabled dApps.
The smart contract native storage layer introduces “Xandeum Buckets”, a scalable file system capable of handling exabytes of data, and integrates directly into Solana RPC nodes. Storage is managed by pNodes, a decentralized network of hundreds of thousands of storage provider nodes, and is overseen by Xandeum-enabled Solana validators. pNodes, validators, and liquid stakers earn additional rewards in SOL due to a dynamic fee market.
“A low-cost, decentralized storage solution will significantly expand the application landscape,” said Tommy Johnson, Armada’s early Solana builder, co-founder, and lead engineer, in a written statement. “It can open up new revenue streams for SOL validators and stakers. The Xandeum solution will have a tremendous impact on the growth of the Solana ecosystem,” he added.
Solana Storage System Limitations Solution from Xandeum Labs
Xandeum Labs, the lead developer of Xandeum, is a Web3 startup focused on developing a scalable storage layer for Solana. The goal of developing new storage primitives to improve Solana’s programming model is to address the limitations of Solana’s current storage system, known as “accounts”. This limitation has proven inadequate for handling even a few gigabytes per dApp. This limitation could hinder the growth of Web3 applications on Solana.
Recently, Xandeum Labs raised $2.8 million to improve its scaling solution and has gained significant interest from Solana’s builder community, having completed over 4 billion transactions on the community-run Devnet.
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About the Author
A dedicated journalist for MPost, Alyssa specializes in the vast areas of cryptocurrencies, zero-knowledge proofs, investments and Web3. She has a keen eye for emerging trends and technologies, and provides comprehensive coverage to inform and engage readers in the ever-evolving digital finance landscape.
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Alyssa Davidson
A dedicated journalist for MPost, Alyssa specializes in the vast areas of cryptocurrencies, zero-knowledge proofs, investments and Web3. She has a keen eye for emerging trends and technologies, and provides comprehensive coverage to inform and engage readers in the ever-evolving digital finance landscape.
More Articles