Why Solana?

  • Updated

One of the most common questions we are asked is why we chose Solana as our blockchain platform. We researched the pros and cons of various chains and landed on Solana for several reasons…

1000x-1.jpg

Energy Efficiency

One of our biggest concerns at Single Music before jumping into the web3/NFT space was the environmental impact of the decision. It's widely publicized how energy-intensive some blockchains can be and we needed a solution that would alleviate those concerns.

Recently the Solana Foundation created an Energy Usage Report that really puts things into perspective and helped solidify our decision: "Solana Foundation can report that a transaction on Solana takes less energy than two Google searches and 24 times less energy than charging your phone."

Cost & Accessibility

Beyond energy efficiency, building our blockchain tools on Solana allows an easy on-ramp for music fans who are new to web3. Not only can new tech (wallets, marketplaces, etc.) seem confusing, but the added fees make many NFTs out of reach for the average person - leading many to be wary of NFTs in general. Solana’s network fees are orders of magnitude lower than other chains so there are no surprises when purchasing and the costs can remain low - which leads to more volume and participation.

Additionally, we are partnering with leading Solana wallets and exchanges so we can make the process of claiming, storing, and selling your collection as seamless as possible.

Was this article helpful?

0 out of 0 found this helpful

Have more questions? Submit a request