Anatoly Yakovenko, a co-founder of Solana Labs, launched a set of solutions designed to exploit the potential for cryptocurrency integration with mobile devices.
According to an official article, the digital assets business and this network have expanded and now serve millions of users, although they seem to depend on desktop software.
Yakovenko feels it is now time for “crypto to become mobile.” By the beginning of the first quarter of 2023, the business will release a smartphone called Saga, together with a safe and native custody solution called Seed Vault, a Mobile Stack, and a non-fungible token (NFT)-a based product called Saga Pass, and the Solana dApp Store.
The blockchain is sponsored by significant participants in the cryptocurrency industry, including crypto exchange FTX, Coral, Kiyomi/OpenEra, Magic Eden, Okay Bears, Orca, Phantom, and StepN.
Solana Versus Big Tech
Yakovenko thinks that these technologies will allow developers to design apps that take advantage of new use cases and expand mobile payment capabilities.
This might aid in the development of Web3, the enhancement of payment rails, and the elimination of third parties from these processes. Yakovenko said:
Individually, any of these developments would be noteworthy, but together, they mark the beginning of a massive leap forward for crypto acceptance on mobile (…). The current potential is to develop features and experiences that make use of a more streamlined capacity to conduct web3 transactions on mobile devices and to transport digital assets everywhere.
The Solana Mobile Stack and the other devices have been manufactured for “less than a year,” according to the CEO. Yakovenko feels that major tech giants like Google and Apple have failed to create solutions to combine crypto with mobile for young businesses.
Moreover, Yakovenko asserts that these corporations have “prevented” crypto firms, developers, and initiatives from implementing these solutions. In this context, he stated: It’s time for web3 developers to begin designing for mobile instead than around mobile.
Also Read: Bitcoin fails to recover as miner abandonment persists
