On December 21, an NFT series Open Solmap appeared on the 24-hour trading list of the NFT trading platform Magic Eden. As of the time of writing, the floor price of Open Solmap has touched 0.77 SOL, there are more than 230k plots, and the current number of holders exceeds 17,780.
What is Open Solmap?
It is reported that Open Solmap is a project officially launched by Magic Eden to represent the ownership of the block space on Solana. It will be run by the community after the mint is completed. At its core, Solmaps is the right to assert digital sovereignty over “plots” (unique portions of contiguous slots on the Solana blockchain). Each “plot” on Solmap contains 1,000 slots of transaction history and is intuitively mapped. Visual representation. With a total of approximately 232 million slots, there can be approximately 232,000 Solmap plots.
Whats a slot? When validating transactions on Solana, each slot represents a unit of time, similar to a frame in a movie reel, during which a large number of transactions are processed and confirmed. Unlike Bitcoin, which processes transactions in fixed-size blocks, Solana’s innovation lies in its use of dynamic slots, making the system more flexible and scalable. The dynamic nature of slots allows for high throughput and efficiency in transaction processing.
For example, a user who inscribes 12345.solmap will receive an NFT and an inscription representing 12345.solmap, as well as 1,000 Solana slots from 12345000 to 12345999, of which slot 12345000 will become the main slot of the plot.
Solmap White PaperAs mentioned in, the community encourages users to make full use of the local properties of Solana slots and blocks to build Solmap by adding layers and meanings. Potential areas that can be constructed include block properties, block transactions, block rewards, block programs and Block account, etc. Immutable inscription on Solana allows the Open Solmap standard to follow a first-come, first-served rule. This rule ensures the legality and uniqueness of each Solmap and prevents repeated creation of drawings. Based on this setting, the concept of Solmap makes it a consensus-driven community project for exploring on-chain data.
Seeing this, you may think of Bitmaps, which is the first metaverse project in the Bitcoin ecosystem based on ordinal theory and bitmap theory.The current total trading volume of Bitmaps has exceeded 286 BTC, which is approximately more than 10 million US dollars. Just like Bitmaps, Solmaps starts from transaction history data, maps the data into unique plots, and gives them the potential to host community creations based on plot attributes.
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The second phase of development of the Bitmap project introduces the concept of The Parcelling, allowing users to divide their plots within the neighborhood independently of the blocks. This stage of development is an important milestone for the creation of digital real estate on the Bitcoin blockchain. Unlike other Metaverse projects, Bitmap does not limit the number of plots, but connects the creation of new Bitmaps to Bitcoin blocks. In theory, up to 144 new Bitmaps can be created every day, providing users with a large number of Opportunities to discover and validate their digital assets.
The slots on Open Solmap can be classified as Satoshi on Bitmaps, Ethereum killer Solana combined with Bitcoin ecological innovative gameplay, Solmap attracted great attention from the community as soon as it was launched. And this is not the first project that has appeared in the Solana ecosystem to surprise the community.
Inscriptions, local dogs, Solana takes on every hot spot
Inscription ORDI, which started in the Bitcoin ecosystem, has triggered a two-month-long inscription craze with its huge wealth effect, and all major public chains have been swept up. Among these public chain inscriptions, the inscription SOLs on Solana are the ones with the fastest growing value after ETHs. As of the time of writing, the price of one SOLs is 66 SOL.
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Sols was different from other public chain inscriptions when it was first mint. The inscription steps for Pols at the same time were extremely simple, while Sols needed to be inscribed with pictures. After the mint was completed, Sols costing dozens of U immediately had a trading price of 1 SOL in the secondary trading market. On December 15, the price of Sols on Magic Eden exceeded 100 SOL.
Behind the growth in the value of sols, the Solana ecosystem itself plays an important role in supporting the inscription plate. Anatoly Yakovenko, co-founder of Solana Labs, said on the Unchained podcast that inscription is a completely blockchain-based asset and although it is not necessary, Solana will still provide support.
In addition to the inscriptions, the Solana ecology is currently undergoing a new period of Tu Dog Season. Toly, the co-founder of Solana Labs, wore a dragon-shaped costume at the Breakpoint conference and gave birth to the meme currency SILLY. In the early days when it attracted community attention, on December 16, Toly stated on social media that there is an urgent need for silly dragon memes.
If you had bought SILLY at that time, you would have gained nearly 30 times in the past 5 days. Today, SILLY broke through $0.07, with a 24-hour increase of nearly 400%.
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With its low-cost, high-speed transaction experience, Solana has attracted many Web3 projects. In the inscription craze and meme season, which have little to do with the performance of the public chain, the community on Solana is active enough to handle every Web3 hotspot. On-chain data shows that Solana ecological DEX’s single-day trading volume exceeded US$1.2 billion on the 21st, surpassing Ethereum for the second time in history. In the new bull market, what kind of surprises will Solana bring to the community?
