As a seasoned analyst with over two decades of experience in the tech and finance sectors, I find Xandeum’s upcoming announcements at Solana Breakpoint 2024 intriguing. The prospect of scaling Solana’s storage model to virtually unlimited capacity could be a game-changer for decentralized applications (dApps) on the network.
On September 20, 2024, the platform Xandeum, which serves as a blockchain storage layer on Solana, intends to reveal its expansion plan, a liquid staking scheme, and the launch of its native token called XAND.
Based on a press announcement sent to crypto news outlets, it has been announced that Xandeum plans to unveil these new features and the XAND token at the Solana Breakpoint 2024 conference in Singapore.
Scaling Solana’s storage model
At its Breakpoint conferences, some of the largest updates within the Solana ecosystem have been unveiled, such as the launch of the Firedance testnet in 2023. The community anticipates even more exciting announcements at Breakpoint 2024, Singapore.
Xandeum claims that their storage system is capable of expanding upon Solana’s existing storage architecture. This innovative technology aims to enable decentralized applications to easily tap into virtually boundless storage resources.
As a researcher delving into the intricacies of this cryptocurrency platform, I’ve discovered an interesting integration: it interfaces directly with Solana’s Remote Procedure Call (RPC) nodes. This connection not only reinforces decentralization but also expands it through a network of storage provider nodes, often referred to as pNodes.
Fundamental to this setup is a flexible fee market that keeps primary contributors such as pNodes, validators, and liquid stakers motivated to sustain an effective and distributed data storage network. These essential figures derive rewards in SOL, which could potentially open up a fresh income source and substantially bolster the Solana system.
XAND token launch date
On October 29, 2024, Xandeum is set to debut its liquid staking platform. This platform allows SOL stakers to potentially generate income from future Xandeum storage fees using the liquid staking token, xandSOL. Simultaneously, the XAND token will also be introduced on that same date.
As an analyst, I’m excited to share that the pioneering Web3 startup, Xandeum Labs, anticipates launching their pNodes network in the first quarter of 2025. This dynamic team, responsible for the creation of Xandeum, has successfully secured $2.8 million in funding to develop and implement their innovative scaling solution.
Although Solana ranks among the leading blockchain platforms, boasting a vast ecosystem particularly in the realm of decentralized finance and other cryptocurrency sectors, it has encountered issues. Most notably, the network has experienced downtimes, which became apparent as the ecosystem underwent swift expansion following its mainnet beta debut in March 2020.
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2024-09-19 20:34