Over the decades, the internet has evolved from just a static educational tool to a dynamic space for businesses and individuals. However, it had weaknesses associated with data security, privacy, ownership, and content censorship worth addressing.
This gave rise to Web3, the new ecosystem with unparalleled safety and security based on two pillars: decentralization and blockchain. Decentralization offers complete autonomy over data, while blockchain technology ensures no one can penetrate your digital possessions.
The introduction of Web3 domains further enhanced user experience. Now, people don’t have to remember complicated addresses or manage their digital assets separately. Web3 domains give them complete authority over data and enable them to surf through the Web3 space anonymously.
These domains can be minted on secure blockchains, such as Ethereum, Polygon, Solana, and Binance Smart Chain, and can generate huge profits when resold.
This post will explain why you should choose Solana to Mint your Web3 domains. So, whether you’re an aspiring developer or a seasoned Web3 domain investor, get ready to explore the features of Solana.
Don’t have a Web3 domain yet? Hurry up! You can buy one on Freename right now and Mint with Solana.
What is Solana? Solana is a blockchain, just like Ethereum, Polygon, and others. However, features such as jaw-dropping speed, unbelievably low cost, and unmatched scalability set it apart, making it an increasingly popular option among cryptocurrency traders, dApp developers, startups, and new investors.
Below, you will find why minting on Solana would be much more profitable than other blockchains.
Solana’s advanced consensus mechanism combines different computation methods to determine the ideal verification method for a decentralized transaction, making it more scalable than other blockchains.
Moreover, this hybrid mechanism combines the best features of Proof-of-Work (PoW), Proof-of-Stake (PoS), and Proof-of-History (PoH) mechanisms, rendering the shortest possible transaction processing time. The blockchain can perform thousands of transactions per second.
Compared with others, this blockchain charges lower gas fees and is more efficient. For example, Ethereum offers 30,000 transactions per second. In comparison, Solana can perform up to 65,000 transactions per second while ensuring top-notch data security and control.
This is the reason why Serum DEX leverages Solana’s speed for fast, cost-effective trading. Another dApp, Hivemapper, relies on Solana’s efficiency to provide decentralized mapping to thousands of users.
Solana blockchain offers the lowest transaction fees among many popular platforms, such as Polygon, Ethereum, Binance Chain, and others. Due to its design efficiency, launching dApps or minting on this blockchain has become effortlessly easy for developers.
If you compare Solana with improved versions of popular blockchain networks, it still has an edge. For instance, Ethereum’s transitioning to the PoS mechanism has reduced the transaction cost. Still, the transaction cost on Solana is much lower than that.
This chart will give you a quick comparison of gas fees on different blockchains.
| Blockchain | Average fees per transaction |
| Ethereum | $2.90 |
| Solana | $0.00064 |
| Binance Smart Chain (BSC) | Under $0.05 |
| Polygon (MATIC) | $0.003 |
| Cardano | $0.17 |
The above chart shows the Solana blockchain offers the lowest gas fees (on average) for minting Web3 domains.
Low transaction cost enables you to mint multiple Web3 domains at affordable cost. This is why this decentralized ledger has become a center of attraction for individuals and businesses looking to establish a strong Web3 presence.
Solana’s rapidly expanding ecosystem supports a wide range of innovative solutions, including DeFi protocols, DEXs, NFTs, games, or tokens. Powered by the Rust Programming Language, Solana blockchain renders a developer-focused environment, enabling users to launch innovative user-centric solutions.
For instance, Solana Name Service (SNS) allows users to register human-readable domain names that can be used across various Solana-based applications. You can also integrate Freename Domain Name Service (Freename DNS), which can resolve any Web3 domain without any plugin or Ad-on. This integration will enhance user experience and add more utility to your Web3 domains minted on Solana.
Several other projects make Solana a robust ecosystem. For example, Audius is a Web3 music streaming app launched on the Solana blockchain. It provides a seamless music experience on Solana.
If you’re thinking domain minting on Solana would be risky because of its lightning-fast speed, you’re wrong.
Solana is an open-source blockchain, which means that no single entity has the power to control the network. Thousands of validators contribute to the blockchain’s decentralization and resilience.
Instead of the memory-intensive PoW mechanism, it leverages the PoH mechanism that optimizes GPU cores. This mechanism makes it more scalable than other networks. Moreover, the Tower BFT (Byzantine Fault Tolerance) mechanism ensures high data security.
As a decentralized network, Solana ensures zero censorship threats and no content bans. Moreover, its robust security features prevent malicious activities, giving domain owners peace of mind.
As mentioned above, Solana’s PoH mechanism supports GPU optimization, saving developers a lot of time and effort. Moreover, its Rust Programming Language renders easy transitioning for speedier and hassle-free launching of dApps.
Faster processing and lower gas fees appeal to developers and startups with budget constraints. The blockchain supports innovation. In the future, we may see more next-gen DeFi and DEX platforms emerging as Solana’s transformative potential onboards more developers with fresher ideas.
The community has been growing constantly. From July 2021 to December 2022, Solana’s developer toolkit downloads outpaced the Ethereum downloads by some margin. During that period, Ethereum’s dev toolkit downloads grew 13x while those of Solana grew 20x. More than 64,000 participants attended multiple Solana Hackathons and other events during that period.
The Solana blockchain provides the basis for developing a vibrant ecosystem featuring a massive pool of dApps for multiple purposes.
This shows that Solana has continuously developed and evolved to become more robust and resourceful.
The blockchain promises a commitment to scalability and future-proofing the network, and it does so by providing a resource center to developers. Moreover, aspiring developers can utilize Solana documentation to explore its potential and build modern solutions.
Solana’s technological advancements will also help Web3 domain owners as they can resell their domains for high profits in the future.
Since its inception, the Solana blockchain has onboarded many businesses. For example, Raydium and Mango Markets utilize Solana-powered Web3 domains for advertising and branding.
The purpose is to enhance user experience through unique yet simple addresses, allowing more users to interact with dApps. However, sophisticated user interaction is just one aspect of the Web3 domains.
Solana-powered Web3 domains can be used in multiple ways, including:
Because of its decentralized nature, speed, scalability, and robust security, the Solana blockchain has received praise from around the world.
Solana’s open-source network charges the lowest domain minting fee and offers unmatched transaction speed and interoperability. These factors make Solana highly scalable, which is ideal for domain minting.
Freename makes minting on Solana effortlessly easy. Here’s how:
Obsessed with Solana and want to get started? Before you do, better check out the following tips:
Always work with reliable domain service providers, such as Freename. This platform offers Ethereum Name Service (ENS) domains and Unstoppable domains at affordable prices. You can follow these practices to secure your Web3 domains on Freename.
Solana is a cost-effective domain-minting chain, but managing a domain is different. Here are the best practices:
In this post, we have explained why Solana is everyone’s go-to blockchain. It is highly scalable, has a developer-friendly infrastructure that supports innovation, offers the best transaction speed, and charges the lowest gas fees per transaction. So, whether trading digital assets, branding, or minting Web3 domains, Solana is head and shoulders above other blockchain networks.
So, start minting on Solana with Freename. Our user-friendly interface is compatible with the Solana blockchain, giving you a smooth and seamless domain minting experience. From choosing your domain to transitioning it with the Solana ecosystem, Freename’s step-by-step assistance will help you acquire your Web3 real estate on the world’s fastest blockchain.
| If you want to be at the forefront of the Web3 revolution and try Solana integrated with Freename, just grab a Web3 domain and start your journey! |
Want more domain minting options? With Freename, You can mint your Web3 domains on Base, Aurora, Binance Smart Chain (BSC), Polygon.