Jump Crypto to make Solana Validator client software improve performance

Jump Crypto to make Solana Validator client software improve performance

The Solana Network and Jump Crypto have recently collaborated to improve the stability of the Solana Network.

The Solana network, especially this year, has been the victim of numerous network outages and congestion which has frequently caused network slowdowns.

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

Jump Crypto will now build validator client software for the blockchain platform.

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

The software will provide an alternative to the Rust-based software that powers the current validation client run by the Solana network.

Jump Crypto is a renowned 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”

Jump Crypto President Kanav Kariya called the validator client initiative “wildly ambitious.” Jump Trading Chief Scientific Officer Kevin Bowers is currently overseeing the development of the new validation client.

Kevin Bowers stated,

Through Jump’s decades of work solving some of the most complex network challenges in traditional financial markets, we’ve seen firsthand the impact improving network speed and efficiency can have on an entire financial system. Now, given the relatively slow speeds and unreliability of blockchain networks, there is an incredible opportunity to transform the functionality and effectiveness of these networks.

For those unversed, validators play a huge role in proof-of-stake blockchains like Solana. It helps to attest to the authenticity of the transaction that is attached to the blockchain.

In order for someone to act as a validator, they must hold a required amount of Solana’s native currency called SOL and validate in a way that benefits the network.

Several Solana validators, such as Coinbase Cloud and Jump Crypto, are also known to offer staking services that allow smaller users to add SOL to the pool of validators.

In this way, they also have the opportunity to earn shared rewards from the validators for providing the service.

Increased performance of the Solana network

Firedancer’s goal is to improve and increase the performance of the Solana network, which is the speed at which transactions are processed. This increase in Solana network performance will positively impact efficiency and resiliency over the next 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. There will now be a second full initiative that will be able to co-exist and operate the Solana network as well.

In the announcement about the new validator client, Jump Crypto said that this project was aimed at accelerating the adoption of Solana by bringing more technical improvements to its network.

It is a matter of time until the above claims about network efficiency are proven to be true, considering that the frequent amount of Solana Lab downtime could decrease.

Bitcoin was priced at $23,400 on the four-hour chart | Source: BTCUSD on TradingView

Leave a Reply

Your email address will not be published.