Nitro recently announced building a Layer 2 for the Solana network. This will be the first Solana scaling solution, connecting it to IBC and Cosmos.
The announcement was done through Twitter, where Nitro released a thread of tweets to explain the development. The scaling solution will help Solana connect its developer community and execution environment with the IBC and Cosmos ecosystem.
According to Nitro, EVM and Solidity have become the development standard across the crypto market. That is why the latest collaboration is trying to make SVM (Sealevel VM) the development standard for projects.
Nitro will enable SVM compatibility to help developers launch their Solana-based dApps on Nitro. These dApps will also gain access across the IBC and Cosmos ecosystem. Apps developed on Nitro can also leverage the Sealevel VM to gain interoperability and high performance on IBC.
The motivation behind choosing Solana is a given for any project. The network has established a thriving community of developers across the globe. Solana provides developers with advanced tools and resources, such as Solana Tool Suite, Metaplex, and Anchor framework for smart contract development.
After the collaboration, Nitro will allow developers to deploy existing smart contracts on Solana without any changes. With the help of contributors from Sei Labs, Nitro will provide a platform where Solana developers can expand their reach across IBC projects.
Experts believe that Nitro can elevate Solana’s DeFi performance, as it is designed for DeFi purposes. At the same time, it can take the network’s sub-second finality to 600 ms with a transaction throughput of 20,000 tps.
Since the future of DeFi revolves around composability and interoperability, the latest collaboration will be key for the market. It can deliver a seamless user experience backed by robust ecosystems with lightning-fast transaction finality if executed properly.
Source: https://www.cryptonewsz.com/nitro-to-build-an-l2-for-solana-to-combine-with-cosmos-and-ibc/