Solana announced the launch of Saga, a flagship web3 smartphone, as well as Solana Mobile Stack (SMS), an open source Android framework for web3 development. But what do all these technical terms mean, and how do they affect Solana’s price?
Solana Mobile Stack (SMS)
Let’s first talk about the SMS instead of the smartphone.
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This is actually very interesting, but also simple. I think one of the biggest barriers to mainstream cryptocurrency adoption is the clumsy wallet experience. To access DeFi, you need a desktop browser and download something similar to the Phantom app, which is clearly a big thing in this age of smartphones.
Most browser-based apps simply cannot be compared to conventional apps on an iPhone or Android device in terms of usability, intuitive interfaces and convenience. To illustrate how far behind we are, you can not use your wallet for Google Pay or Apple Pay.
The SMS solves this problem. It’s actually a web3 layer, built on top of Android. This allows developers to build decentralized apps (dApps) on Android. These dApps can now be downloaded from the dApp Store with the click of a button, and the premise is that they will now run as smoothly as conventional apps on iPhones and Androids.
The second part of the message is the smartphone itself. While SMS is a fun project, it is useless unless the phone manufacturers start using it. Solana solved this by also launching its own smartphone, Saga. In essence, in this case, the smartphone should be seen as a proof-of-concept, which is why the $ 1000 price tag is not really important at the moment.
Google and Apple
Will customers move now that we have an extra opportunity in the market? Will they park their Google Pay or Apple Pay to use Solana Pay? It’s also difficult to predict how Google and Apple will react. If the tech giants open their app stores, there is no need to use the Solana phone.
SMS technology, instead of the smartphone, is the real news here. The phone is just a phone. The Web3 layer is the innovation and what is important.
The immediate answer to this is likely to be criticism of Solana for being centralized and disputing the use of the Saga phone along with the SMS stack. But to make things popular, they have to work. There is no point in being decentralized when things are not working out, and at this point, Web3 still has a long way to go to bring the user’s dApp and wallet experience into line with the sleek Apple and Android equivalents.
This is a big step forward for Web3 in my opinion, as it is a step towards streamlining these big visions and aspirations for the movement and creating realistic opportunities for customers that actually work. Paying fast for a cup of coffee with Solana Pay is now a real option. Building integrated experiences for users on their phones is also an option. And don’t expect this to remain in the smartphone landscape; one can expect the system to be rolled out for PC wallets and dApps as well.
The future of Solana
I like using Solana. It is flexible and easy to use, the speed and gas charges are incredibly low, and it contrasts so beautifully with the sky-high gas charges on Ethereum. The big problem, however, is the repeated power outages, something I have criticized before.
Following a report last month examining the latest outcome that blamed both trades for overpowering an NFT coin, Solana revealed plans to renew the fee system. The good aspect of this is the “neighbor tax model”. This means that an extra gas fee will be charged in times of congestion, but only for popular apps and services. That way, the cost does not increase across the network, as with Ethereum.
Although it is too early to judge this implementation, it is an incredibly positive development. Solana may have problems, but they are actively working to find a solution. Right now, it’s the best-placed Layer-1 blockchain to take the fight to Ethereum, despite its scorching year so far with nearly a dozen interruptions and a price drop of only $ 27 recently (90% off the top time of $ 260) .
Although Solana has risen almost 20% this week, I think it would be unforgivable to look at this too much. The crypto market functions as a whole, and given the extremely risky environment we find ourselves in, short-term volatility for altcoins is inevitable, and price action will follow macro developments.
Much firmer (and optimistic) is Solana’s long-term vision and how it looks brighter with this piece of innovation. Not only that, but Web3 as a whole. The place has been dominated by red prices, anxious emotions and rising liquidations, it’s nice for a change to talk about a real case of innovation, and that’s why we’re here in the first place.
Technique is more important than price. The price part gradually follows, but bear markets are the time to build and set up solid projects. This week is a good week for Solana and Web3 as a whole.
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