Known for its high-performance blockchain network, Solana has made tremendous progress in the past year. With its impressive transaction speeds and low fees, Solana has attracted a lot of developer attention and the recent Solana Breakpoint event hosted in Amsterdam showcased the platform’s capabilities and upcoming developments.
From interoperability solutions and payment processing, to how a unique boba tea brand is utilizing Web3 and more, here’s a breakdown of the highlights from Solana Breakpoint 2023.
A common problem that has been presented among blockchain networks is the lack of interoperability. This means that different blockchains cannot communicate with each other, making it difficult to transfer assets and data between them.
Rarimo is an interoperability protocol that makes digital identities multi-chain. They are developing ground-breaking standards and infrastructure that make it possible to carry certificates, reputation, and identities across several blockchains, enabling identity-focused use cases that were previously difficult, expensive, or not possible at all.
One of its key ecosystem contributors, Rarify Labs (Co-founded by Lasha Antadze, received US$10 million in a Series A funding round from Pantera Capital at a $100 million valuation in 2022.
“Breakpoint showed that Solana is trying to diversify and find new niches, making efforts to build out DeFi and SocialFi. This is the correct direction but a challenging task.”
“The community is strong and works positively, so let’s see how that goes,” added Lasha.
With an effort to unlock and connect different blockchain networks, Rarimo is on its way to empowering Web3 users with an identity solution, so that users can express their identity across multiple chains and have cross-chain applications that work to enhance the overall user experience.
Web3 Payment Platforms
Although Web3 has plenty of use cases, there is no denying that DeFi and other payment-related applications have been the driving force behind its growth. With the rise of cryptocurrencies, there has been a significant increase in demand for more efficient, secure, and decentralized payment systems.
This has led to the emergence of several Web3 payment platforms that offer a range of features and services to users.
Helio, for example, is a Web3 payment platform founded with a simple mission: to accelerate the adoption of web3 payments. Helio is going beyond the foundational layers like infrastructure and wallets and seeing examples of the exciting consumer-facing applications that have cracked important user experience problems that have prevented more mainstream users from using blockchain.
Stijn Paumen is the co-founder and CEO of Helio. Stijn is an experienced builder who in the last 20 years together with Jim Walker has built, scaled and exited two B2B SaaS companies for a total of $600M.
During his time at Solana Breakpoint 2023, he expressed that he was excited to see payments emerge as a central theme of the conference. This is because the blockchain offers lower fees and faster settlement for merchants.
“Overall, I think this year’s Breakpoint has been a turning point for Web3. Helio plays a key role in taking consumer adoption to the next level with our lightning-fast and seamless payments.”
When businesses are empowered with solutions that increase productivity and better margins, a better service or product can be delivered to the end consumer. Unsurprisingly, many businesses are starting to see the value in using Web3 payment platforms for their day-to-day transactions.
Whether it’s for e-commerce, international payments, or micropayments, Web3 payment platforms offer a range of benefits that traditional payment systems simply can’t match.
eCommerce and Web3 Synergies
As the internet age came about, eCommerce emerged as a new way of conducting business. eCommerce has revolutionized the traditional business model, making it easier for businesses to reach consumers and vice versa. With the rise of Web3, a synergistic relationship has emerged between eCommerce and the blockchain.
Andrew Chau, CEO and co-founder of Boba Guys has recognized this by crafting the Boba Guys Passport. Serving as an on-chain loyalty program, the Boba Guys Passport allows customers to earn and use points for purchases made at their physical stores or online shops.
Committed to bridging cultures, fostering community and introducing to the world iconic drinks like the Strawberry Matcha Latte, Boba Guys has quickly become a symbol of excellence in the boba tea industry.
With multiple locations across San Francisco, Los Angeles and New York, their innovative approach to this beloved beverage has garnered a devoted following and numerous awards.
“The job now for us and similar projects is to deliver on our vision — the results we presented along with other announcements from the community indicate that the foundation is ready and primed for further expansion.”
“The excitement around our project and other retail/e-commerce ecosystems show a promising future for Solana and the greater world of Web3,” shared Andrew. Web3 unlocks deeper insights into customer behavior and preferences to help businesses like Boba Guys better cater to their audience while also increasing engagement and customer loyalty.
How Web3 Increases Social Engagements
Word-of-mouth marketing is an essential part of the success of any business. The problem when it comes to the digital age is that it is difficult to track and quantify the impact of word-of-mouth.
With the integration of Web3 technology, businesses can now gain deeper insights into customer behavior and preferences, making it easier to identify key influencers and track the impact of social media engagement.
Aidian Neil, Co-CEO of Buddy Link is at the forefront of finding innovative ways to utilize Web3 for increased social engagement. With this platform, the infrastructure of Web3 is leveraged to promote more meaningful and genuine connections between users.
By creating a decentralized platform, Buddy Link allows for built-in permissions, security, and payments. To learn more about Buddy Link, check out this article published by Blockster’s co-founder and editor-in-chief, Lidia Yados.
Additionally, as co-founder of Ladder Labs, Aidan comes from a regulatory and UX research and design background. After five years in the Canadian public service helping advance public policy, he started building Web3 dApps with his cousin and co-founder.
Ladder Labs has released one of the largest open-source repos, the first fully on-chain game on Solana, LadderCaster. He expressed his pride in being a part of the Solana ecosystem during his presence at the event.
“The technical achievements of Firedancer’s validator client, the immense early success of Star Atlas, and all of the efforts to build financial products that are Only Possible On Solana signals to the rest of the world that we’re still here and we’re not going anywhere.”
Tokenized Communities and Social Networks
Humans are social creatures and as we approach the mainstream adoption of Web3 and tokenized assets, the idea of tokenized communities and social networks becomes increasingly relevant. Tokenization offers a way to incentivize and reward users for their contributions, whether it be through content creation, sharing, or engaging with others in the community.
By creating financial value within online spaces, Web3 allows for more sustainable and authentic relationships between creators and consumers.
Rick Porter, Co-Founder and Chief Executive Officer of DSCVR (pronounced “Discover”) is a leading web3 social network and community-building platform. With over 230K users, the SocialFi platform has become a launchpad for tokenized communities where users can configure governance, gate based on token ownership, airdrop token rewards and earn digital assets.
DSCVR’s upcoming Open API will allow partners to build applications that target through the social graph, distribute through the feed, and monetize in posts.
Social media has long been at the mercy of centralized platforms, where algorithms determine what content users see and creators struggle to earn a living. Web3 offers the potential for a more reward-based system, where users can be compensated for their attention and engagement.
“As a new entrant to the Solana ecosystem, DSCVR was overwhelmed by the positive reception in the community. While crypto culture can sometimes be marked by tribalism, the Solana community is different – always open to new ideas.”
Tokenized communities also enable a more democratic approach to content moderation, allowing token holders to have a say in the platform’s policies and practices. The most active and valuable members of the community can also be recognized through token rewards, creating a more merit-based system rather than relying on popularity or follower count.
Other Notable Mentions
Solana Breakpoint 2023 was packed with notable speakers each bringing key insights into the future of blockchain technology. Replays of the event can be found on the Solana Foundation Youtube channel. Here’s a brief summary of announcements made during the conference:
Firedancer Testnet is Live and Solana Breakpoint 2024 Location Revealed For Singapore from September 19th to 21st.
Solana Labs’ Gameshift Delivers the Next Generation of Game Development with Beta Launch.
Solana data goes live on Google Cloud BigQuery.
Etherfuse Unveils Investment Product to Bridge TradFi and DeFi.
Captain Announces the Launch of a Web3-native Ticket Marketplace.
Tweed Announces Plans to Transform Event Ticketing With a Solana Blockchain-based System.
Ryder Presents Ryder One Hardware Wallet.
Boba Guys Announce Launch of Loyalty Programme Across All Locations.
Orca Announces New LP Terminal to Revamp Liquidity UI.
FRIDAY Launches Innovative Mobile Consumer Application and Protocol.
Render Network Upgrades its Core Infrastructure from Ethereum to Solana.
Jupiter Announces Plans to Integrate Circle’s Cross-Chain Transfer Protocol to Bring Native USDC to Solana.
Buddy Link Announces Global Launch.
PsyFi Showcases its Status as Solana’s Second-largest DAO at Breakpoint.
3.land is Launching 3TV, a Live-streaming Platform for Creatives.
Teleport.XYZ Showcases the Importance of Open-source Protocols
Solana Breakpoint 2023 showcased the social layer that keeps the Solana ecosystem pumping. The 4-day conference brought together developers, entrepreneurs, and visionaries to collaborate and build a better future for the world through blockchain technology.
Throughout the event, it was clear that Solana’s innovative approach to scalability and speed is attracting top projects and new users to its network. The announcements made during the conference highlighted the growth of the ecosystem and its potential for mainstream adoption.
Moreover, the conference highlighted the power of community and collaboration in driving the growth of blockchain technology. With referral programs and social media platforms, companies are leveraging the power of their community to drive adoption and growth.
Practical solutions through blockchain technology demonstrated the endless possibilities that Solana offers to businesses and individuals. It’s clear that Solana Breakpoint broke through the melancholy of the bear market and re-energized the industry with its optimistic vision for the future.