DeFi Protocol Farcaster Adds Support for Solana Address Verification

Farcaster, a decentralized protocol for building social networks, has rolled out a new toolset for the Solana community. Through Farcaster Hubs, users can now verify Solana addresses. The feature has garnered the attention of several users within the Solana ecosystem, including its co-founder, Anatoly Yakovenko.

???????????? https://t.co/7URpQIwtWe

— toly ???????? (@aeyakovenko) February 23, 2024

Founded in 2020 by former Coinbase employees, Dan Romero and Varun Srinivasan, Farcaster allows developers to deploy decentralized applications (dApps) on the Ethereum layer-2 scaling solution, Optimism. Farcaster’s structure enables users’ identities to be stored on-chain as it seeks to disrupt existing social media platforms like X (formerly Twitter).

Solana Address Verification Streamlined

Dan Romero explained in the announcement that the Solana address verification is a step towards decentralization. Before now, users rely on centralized platforms to conduct address verifications. However, this new capability enables users to perform these verification processes through an on-chain toolset.

Developers and users can access the product via Hubs, a group of distributed networks of servers facilitating the storage and validation of Farcaster data.

The verification process is streamlined through the Farcaster AuthKit, which enables developers to easily interact with Ethereum and Solana wallet addresses. Therefore, developers can conduct “cross-chain identity mapping along with a permissionless social graph in a single API call.”

The features rolled out by Farcaster benefits the Solana network and developers alike. Developers get to integrate Solana capabilities into their dApps seamlessly. On the other hand, the Solana network sees more users tap into its technology.

A Shift Towards Decentralization

As stated earlier, the latest toolset rolled out by Farcaster is a push towards decentralization. Members of the Solana community have also expressed enthusiasm about the product. Still, only time will tell if the product garners enough engagement to upscale Solana’s decentralization. Currently, Solana boasts itself as a decentralized network with over 3,400 validators.

Meanwhile, Solana’s native cryptocurrency, SOL, currently trades at $102.3, representing a 3.3% decrease over the past 24 hours.