Jump Crypto is applying its research and development prowess to increase the efficiency of the Solana network, one of the world’s fastest blockchains, by developing a New Open Source Validator for Solana to beat network outages.
Jump Crypto expects that the new validator which is being developed using the C++ programming language will boost the throughput and reliability of the Solana network.
Jump Crypto develops critical infrastructure needed to catalyze the growth of the crypto ecosystem. Since its inception as a skunkworks intern project in late 2015, Jump Crypto has grown into a dynamic and seasoned team of high performing players across a range of functions.
Today, Jump Crypto plays an important role in the development of some of the largest and most innovative crypto communities. Jump Crypto is the crypto division of Jump Trading Group, a research-driven quantitative trading firm that’s one of the largest traders by volume across traditional asset classes.
Solana is a blockchain built for mass adoption. It’s a high performance network that is utilized for a range of use cases, including finance, NFTs, payments, and gaming. Solana operates as a single global state machine, and is open, interoperable and decentralized.
Validators are the heart of any decentralized proof of stake blockchain, and this initiative to develop a second independent client for the Solana blockchain represents an important step in the network’s continued decentralization. Jump Crypto will propose significant upgrades to Solana’s open-source core software along with building a second and new validator client, separate from the one built by Solana Labs.
Dan Albert, Executive Director of the Solana Foundation, believes that the new solution will improve mission-critical systems, ultimately helping the Solana network scale to billions of users.
Kanav Kariya, President of Jump Crypto, said:
“There is nothing more important right now than solving the world’s most complex networking issues, and we are thrilled that Solana Foundation has entrusted us to help revolutionize this technology to make the fastest blockchain even faster and more reliable.”
Anatoly Yakovenko, Co-Founder of Solana, pointed out that the Solana network has seen exponential growth over the last two years, which shows no signs of slowing down.
“By adding more core contributors like Jump Crypto, the network can maintain its status as the best place to build in web3, while scaling to billions of users. I’m excited for Jump’s engineers to bring a new perspective to the network and help improve network resiliency and efficiency,” Anatoly added.
Kevin Bowers, Chief Science Officer at Jump Trading, will be overseeing the entire process of building the new validator client for Solana.
“Given the relatively slow speeds and unreliability of blockchain networks, an incredible opportunity exists to transform the functionality and efficacy of these networks,” Kevin added.
