Solana

@solana is open for business. Solana's new Token Extensions standard unlocks enterprise use cases that few other ecosystems can natively support.

I wrote about these changes for the Solana Scribes Hackathon, a short🧵

Solana is a blockchain built for mass adoption ◎ Fast, composable, green, and globally distributed. 

https://solana.com

Farcaster by @solanafoundation

@solana is open for business. Solana's new Token Extensions standard unlocks enterprise use cases that few other ecosystems can natively support.

I wrote about these changes for the Solana Scribes Hackathon, a short🧵
https://www.byteleg.com/solana-for-business/

Chief of Staff @ Confusion Capital | fmr. web3 @ US House of Reps  | MBA Candidate @ UVA Darden | Writing @ ByteLeg.com 

2/ Enterprises have different needs than individuals. They already have access to payment rails and financial products. Enterprises will adopt blockchains because:
1 - Smart contracts automate routine work
2 - Businesses need neutral platforms for long term planning

3/ TEs are a major unlock for enterprises, enabling new features enforced directly by the protocol. For enterprises, TEs provide:
- Increased privacy / Confidential transfers
- Customizability / Metadata
- Increased control / Token hooks
- Reliability / Base protocol enforcement

5/ By continually pushing the frontier, Solana is becoming one of the best place to do business on chain. 

Enterprises take note, Solana is open for business.

5/ By continually pushing the frontier, Solana is becoming one of the best place to do business on chain. 

Enterprises take note, Solana is open for business.
https://www.byteleg.com/solana-for-business/

4/ TEs empower businesses to build in ways that are OPOS:
- Token Hooks: auto product recalls
- Confidential Transfers: obscured contracts details 
- Token Fees: increased supply chain efficiency
- Metadata: directly attach hashed notarized documents