Developers at Metaplex have announced the launch of Metaplex Inscriptions and Engravings, introducing a new standard for non-fungible tokens (NFTs) on the Solana blockchain. This innovative approach allows the storage of asset metadata and media content directly within the network.
According to the project developers, this solution “eliminates the need for any external trust assumptions.” Consequently, Solana becomes another platform where one can create “inscriptions.” However, some experts express uncertainty about the necessity of this, considering that the blockchain itself already supports the creation of non-fungible tokens (NFTs). The sole advantage here seems to be the ability to store all data directly within the network.
Solana’s cryptocurrency (SOL) serves as the primary asset on this blockchain platform, known for its high performance and scalability, designed to support decentralized applications (DApps) and financial markets.
Solana is designed to provide high throughput and low transaction latency. SOL is widely utilized in the DeFi ecosystem, offering capabilities for creating and executing smart contracts, as well as facilitating the exchange of digital assets and providing liquidity on decentralized exchanges.
Solana actively attracts developers and provides various tools and resources for the creation and deployment of applications on the platform. This includes the development of DeFi applications, games, NFT collections, and more.
With numerous integrations and partnerships with other projects and platforms, Solana is expanding its capabilities and applications across various industries.
