OKX Brings Solana's "Blinks" Technology to EVM Chains
The OKX exchange's Web3 wallet has become the first multi-chain wallet to bring Solana's "Blinks" technology to all EVM Chains.
The OKX crypto exchange's Web3 wallet is bringing Solana's (SOL) blockchain linking technology, also known as "Blinks", to all Ethereum (EVM) compatible chains, becoming the first multi-chain wallet to do so.
"Blinks" stands for blockchain links, a new feature launched by the Solana Foundation on June 25, 2024 in partnership with Dialect. It allows users to connect and transact directly on social media platforms through the Phantom and Backpack wallets.
When a user clicks on a "Blinks", the connected and enabled wallets will immediately notify the user of the transaction they are about to make. Whether these transactions are connecting to dapps or transferring users to another website.
In terms of ideas, "Blinks" is not a new invention but has existed for a long time in social graph projects, similar to Frames on decentralized social networking platform Farcaster - turning simple posts into interactive applications, helping users to play games, watch movies, donate to creators, receive money, vote, stake, swap tokens, issue NFTs or make instant payments without having to go through the transition to a third platform.
OKX's new product is a collaboration with Dialect to bring "Blinks" to its Web3 wallet system, which also includes the function of posting and interacting online with OKX Wallet URLs. Users can swap, stake, and buy/sell NFTs or memecoins through OKX Blinks. In particular, the exchange claims that transactions through OKX Blinks are completely free.
Speaking specifically about the Solana blockchain, it can be seen that in recent times, this is the preferred network for developers due to its "economical" usage costs and the ability to issue tokens much easier compared to other leading blockchains such as Bitcoin and Ethereum.
According to statistics, July 2024 saw the number of active wallet addresses on the Solana blockchain reach an all-time high of 54.33 million.
Due to the strong growth in the number of active wallet addresses, Solana has also attracted many projects to "move home" or expand their network here to "enjoy" the number of users such as the leading memecoin on Blast Pacmoon, stablecoin USDe, PayPal's stablecoin (PYUSD), Worldcoin.
However, the increase in active addresses on the network is almost 50% attributed to the use of Solana to issue memecoins, with much of it being heavily supported by easy token creation platforms like pump.fun or MakeNowMeme... many of which are celebrity-backed.
