Jump Crypto To Develop New Solana Validator
Jump Crypto just announced that it wants to develop a validator for the Solana blockchain. This new validator would be written in the C++ programming language.
Also, Kevin Bowers, an executive at Jump Crypto, would be the project’s leader. Meanwhile, Jump Crypto is an arm of Jump Trading, a trading platform.
Jump Crypto To Develop A Validator For Solana
Jump Crypto has gathered a crypto team comprising 100 individuals. Part of this team would focus on developing the Solana network. It is worthy to say that the latest validator would have the same coding language as BTC, which is C++.
To become a validator, one must either lock up or stake SOL tokens to be eligible to verify the authenticity of transactions on the blockchain. Afterward, the validator would receive a reward.
Jump Crypto and Coinbase Cloud would serve as validator pools. This would allow holders with small SOL tokens to receive rewards when the two firms provide the service.
Solana’s blockchain uses the proof-of-history mechanism. It is a way to track the time of transactions as it creates various time stamps in the blockchain.
Solana’s timestamp is decentralized and works better with a distributed system. It can show a transaction that occurred in the past and the future. This differs from ETH, which uses a central entity to timestamp block transactions.
Meanwhile, several critics have attacked the Solana network. They argued that it sacrificed decentralization to gain transaction speed. However, the platform continues to grow tremendously.
Crypto Jump First External Team To Validate Transactions on Solana
According to Kanav Kariya, CEO of Jump Crypto, the firm is the first external engineering team outside Solana to operate the Solana network. He added that the bee validator would support the present version of Solana.
Additionally, Jump Crypto stated that this initiative would increase the adoption ad usage of the Solana blockchain. It would also enhance the platform’s decentralization and technical functionality.
Jump Crypto has great expertise in market-making, which it derived from its parent firm, a quantitative trading platform.
It is renowned for making VC-style investments in cryptocurrency businesses. It was a significant backer of Wormhole, a cryptocurrency initiative that allowed the transfer of tokens between several blockchains.
A quantitative trading platform backs jump Crypto. Hence, it is free to experiment with projects that are mainly crypto-based.
The platform had shown support for Terra’s stablecoin with holds of entering the stablecoin market. Unfortunately, the ecosystem collapsed a few months ago.
For the past two years, recruitment staff have tried to recruit talents from famous universities globally to join the company’s crypto team. The firm also hosted a Solana training program in Chicago, where the interns worked a develop a metaverse-based initiative on the Solana blockchain.
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