Solana-based SOON Seeks to Revolutionize Ethereum Efficiency
In a bold move within the cryptocurrency markets, the Solana Optimistic Network (SOON) is setting the stage to drastically enhance Ethereum's transaction-processing capabilities. By leveraging its innovative SOON Stack, the network plans to reach a staggering 650,000 transactions per second (TPS) on Ethereum, a significant leap in scalability.
Backed by Industry Giants
SOON has garnered attention and support from key figures in the industry, although the exact financial details remain undisclosed. Notable backers include Solana's own leaders, Lily Liu and Anatoly Yakovenko, along with Coinbase Ventures' Jonathan King, highlighting the strategic interest in this venture. Other influential contributors such as Mustafa Al-Bassam from Celestia Labs and Amrit Kumar of AltLayer underscore the project's potential impact on blockchain technology.
SOON Stack: A Game-Changer for Layer 1 Networks
The core innovation of SOON lies in its SOON Stack, a modular framework that combines the Solana Virtual Machine (SVM) with OP Stack. This technology allows the deployment of SVM Layer 2 solutions across various Layer 1 blockchains like Ethereum, Bitcoin, and Cosmos, promising enhanced efficiency and reduced costs.
The flagship product, SOON Mainnet, serves as a general-purpose SVM Layer 2 solution that settles on the Ethereum blockchain. This enables significant boosts in Ethereum's TPS, making it a pivotal development in the realm of decentralized finance (DeFi).
Enhancing Interoperability and Scalability
In addition to its transaction speed ambitions, SOON is poised to integrate a data availability layer. This component will enhance interoperability with existing platforms such as CelestiaDA, EigenDA, and Avail, further broadening its appeal across multiple blockchain ecosystems.
Outlook and Industry Impact
Ultimately, the goal of SOON is to offer the highest throughput rollup stack, characterized by low fees and impressive scalability. This makes it an attractive option for developers of decentralized applications (dApps) seeking to optimize performance and cost-efficiency.
SOON's CEO, Joanna Zeng, emphasized the transformative potential of combining Solana's robust SVM engine with the extensive user base of Layer 1 networks. She envisions SVM becoming the standard across Layer 1 ecosystems, drawing more developers and fostering innovation. Zeng stated, "With SOON, we aim to be the most efficient rollup, reducing costs and boosting performance by 100 times compared to the highest-performing EVM, while maintaining a culture that welcomes non-Solana blue chips."
As SOON progresses, its advancements are expected to redefine the capabilities of existing blockchain infrastructures, potentially setting a new benchmark in the industry.
