Solaxy Token Presale Reaches $3 Million Milestone, Seeks Scalable Solutions for Solana Network

Title: Solana Layer-2 Project Solaxy Nears $3M Milestone in First Week of Token Presale

Solana’s network congestion woes have long been a topic of discussion within the cryptocurrency community. The blockchain has struggled to keep up with its growing popularity, resulting in delayed transactions and failed operations. In an effort to address these issues, Solaxy, a Solana Layer-2 project, is rapidly making progress towards its $3 million presale goal.

As per reports, Solaxy’s token, SOLX, has already garnered a staggering nearly $3 million worth of investment in the first week of its ongoing presale event. This astonishing figure serves as a testament to the project’s potential in solving Solana’s scalability challenges.

Solaxy aims to address these issues by moving transactions off the main Solana chain and processing them on a dedicated Layer-2 network, thus reducing the load on Solana’s infrastructure. The protocol employs a rollup architecture that bundles multiple transactions together before settling them back on Solana’s mainnet. This approach seeks to enable higher transaction throughput.

The project has not only received attention from potential investors but also garnered support from prominent blockchain security firm Coinsult. The auditor found no issues or vulnerabilities with the SOLX token’s code, thereby providing a high level of trust in the project.

Solaxy’s emphasis on interoperability is another key aspect of its vision. By bridging the gap between Solana and Ethereum, it seeks to allow for seamless asset transfer between the two blockchains. This capability holds immense potential for cross-chain applications and DeFi integrations.

It is worth noting that the team at 99Bitcoins has recently released a video discussing Solaxy’s innovative approach in tackling Solana’s scalability woes.

Source: ambcrypto.com