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- Solana reached at $171, marking a bullish trend, with resistance levels at $217.6 and $268.9 in sight.
- As long as Solana stays above $171, prospects for additional gains toward $217+ look optimistic.
- Anatoly Yakovenko proposes a “meta blockchain” to reduce DA costs and improve cross-chain interoperability.
Solana (SOL) has already recorded its first important achievement at the level of $171, confirming its existing bullish trend. The market optimism has been boosted by this milestone with the traders eyeing higher resistance levels. The next targets are positioned at $217.6 and $268.9, which are the significant milestones of Solana’s continuity of growth.
The $171 mark now becomes a good support area for the Solana. As far as the price remains above it, the prospects for the additional gains to $217+ seem quite optimistic. As long as the bullish sentiment is in place, traders are advised to tread carefully as the price approaches these resistance levels.
Source: X
The next barrier zone is at the level of $217.6 and can prevent a further rise. In the case when Solana manages to break this point upwards,that is $268.9 – the ceiling of the existing channel – the next target will probably be this level. High volume and continued momentum will be required in order for the price action to break through this zone.
Solana Meta Blockchain Concept
The cofounder of Solana Anatoly Yakovenko has put forward a revolutionary idea for enhancing interoperability between blockchains. On 12th May, he suggested an idea for a “meta blockchain” which is aimed at reducing data availability (DA) expenditures and improving cross-chain communication.
Yakovenko described the meta blockchain as not being an independent layer. Rather, it would pool data from various chains and would collate it under a single system of transaction ordering. These would establish a communal way of synching transactions of disparate blockchains.
While, the meta blockchain would only have records of the latest block headers of each of the participating chains facilitating a uniform and predictable way of handling transactions. While, this is an attempt to lower uncertainty in transaction sequencing and give the users the most cost-effective data availability solution.
Rule-Based Transaction Merging
However, fixed rule for merging transactions on chains is one of the main aspects of Yakovenko’s proposal. This would do away with having to insist on the presence of centralized sequencers that tend to be viewed as the weakest link in most blockchain environments.
In Yakovenko’s opinion, an ideal system would employ a protocol that would process data from all the chains it is connected to, with no external coordinator needed to make their collective data understandable to each other. He called a given version that uses an external sequencer “lame” solution. And the rule-based system looked like a stronger and decentralized alternative.
With all of Solana’s bullish momentum and Yakovenko’s forward thinking proposal, the blockchain is set to see continued growth. Integration of price action as well as technical innovation can cement Solana as a top dog in the blockchain front.
