Cryptocurrencies and NFTs have become common terms for the majority of people around the globe, and NFTs have become a big thing in the blockchain space. The NFT market has enabled creative people to generate high revenue, which is difficult in the traditional art market.
The NFT market provides extensive scope for NFT creators to generate huge revenues for their digital art. Since the popularity of NFTs and revenue-generating scope skyrocketed, huge numbers of NFT creators trying to leverage the NFT market jumped into the blockchain world.
Since the NFT market gained huge traffic, most blockchain networks were not able to effectively provide their services when most of the blockchain networks were not able to provide services effectively to a huge crowd, in addition to high gas fees. The rise of Solana became a life savior for many NFT creators and buyers.
Solana NFT marketplace development can empower your NFT business venture with high-speed transactions and high scalability, which most blockchain networks fail to do. This network effectively provides the network users with scalability without compromising security and decentralization features.
Why Opt For Solana NFT Marketplace Development
Solana NFT marketplace development is one of the best options for aspiring marketplace owners and crypto entrepreneurs as it helps you overcome the obstacles in other blockchain networks. Even though Solana is in its nascent stage, it is able to dominate most of its competitor’s blockchain networks easily.
Solana network is strategically developed to accommodate the scalability feature and incorporate high-speed transactions with less fees.
Solana NFT Marketplace Development Benefits
Deploying your NFT marketplace on Solana has its own benefits. Even though Solana is in its nascent stage, the core benefits of the Solana network can overthrow other leading blockchain network benefits, which are mentioned below.
How Solana Empowers Your NFT Marketplace?
Solana works with the Proof of History (PoH) consensus, which stores the transactional events according to the time in which the transactions took place in the blockchain network, unlike other networks which use other consensus algorithms to confirm the transactions. Solana’s PoH consensus enables the network to accommodate nearly 60,000 transactions per second.
Low Transaction Cost
Developing your marketplace on the Solana marketplace will support your NFT marketplace buyers to have transaction costs from 2% and lower. This is an interesting feature of the Solana network that can help your NFT marketplace attract huge traction.
Since Solana works on Proof of History, the transaction speed is higher, which makes Solana the most apt network to choose for your NFT marketplace development. The Solana network is capable of performing 50,000 to 60,000 transactions per second. Solana NFT marketplace development will enable your marketplace users to experience high-speed transactions.
No Mempool Issues
The Mempool issue makes the NFT marketplace users wait in the long queue for a long time to confirm their transactions. Solana NFT marketplace development does not suffer any mempool issues. Since there is only a small percentage of gas fees and Solana uses PoH consensus, the users are free from mempool issues. NFT marketplaces on Solana gain quick traction because the network is free from mempool issues.
Solana Programming Language
Solana uses programming languages like C, C++, and Rust, which is a common and more popular programming language that makes the Solana NFT marketplace development process a walk in the park, and with expanding the scope of blockchain, opting for Solana can be more beneficial for your NFT business venture.
Using these popular languages also enables your NFT business venture to expand the business scope with ease and helps you find the best developers in town, as these programming languages are common and popular.
Another essential feature of the Solana network is its scalable nature. The network’s architecture is stateless, which greatly helps to reduce memory consumption. This also paves the way to not updating the entire state of the network for each and every transaction which occurs. In addition, the Solana network also supports multi-threading.
What makes your NFT marketplace development in Solana more powerful?
NFT development services are the best solutions to get your business venture to get started in the crypto space, and deploying your NFT marketplace on the Solana blockchain network is filled with benefits. There is a huge traction shift from other blockchain networks to the Solana network, and your NFT business venture can easily leverage this traction shift by being one of the NFT marketplaces in the network.
Summing It Up
Starting your NFT business venture by deploying your own NFT marketplace on Solana has got numerous benefits. The blockchain network is constantly gaining huge traction, which can be leveraged for your NFT marketplace expansion.
To avail of all the above-mentioned benefits of the Solana network, it is essential for your business to develop a marketplace with all leading marketplace features and functionalities.
Hiring a pioneering Solana NFT marketplace development company can greatly benefit your business as these leading marketplace development companies dwell in the NFT market, and they know the best features and functionalities which suit your marketplace. They can also add customized features to your marketplace.