India is the second-largest market for Solana and the goal is to build a vibrant ecosystem for retail users, Defi and core crypto developers in the country, says Raj Gokal, cofounder at Solana Labs, during Inc 42’s Crypto Summit
Best Indian startups in the crypto ecosystem are not limiting their capacity to India but are going global, he adds
Gokal’s tips to Indian blockchain developers: Find your conversation partners, discuss with them and then start building projects
Solana, which is the fastest growing ecosystem in Blockchain, with over 400 projects spanning DeFi, NFTs, Web3 and more, has charted a road-map to gain 1 Bn crypto users. According to Raj Gokal, cofounder at Solana Labs, India is the second-largest market for Solana and the goal is to build a vibrant ecosystem for retail users, Defi and core crypto developers in the country.
“Solana is committed to India and would expand its presence in the country. India is the second-largest market for Solana at the moment,” Raj Gokal said on the Day 1 of the Inc 42’s Crypto Summit.
“Best Indian startups in the crypto ecosystem are not limiting their capacity to India but are going global,” he added. Solana is a decentralised blockchain built to enable scalable, user-friendly apps for the world.
“Over 1,000 projects have taken over Solana since its inception. Everyday, 4-5 projects are being announced on Twitter. More than 2,000 transactions are being processed every second on Solana network; average transaction cost $0.00025 per transaction,” Gokal informed.
“To find a footing in crypto entrepreneurship it is important to find the right discussion forums and groups to understand your focus area and find projects and products. The best way to be successful is to fail multiple times and learn along the way,” he added.
Payments and gaming will be a big focus areas for Solana in the coming days. One example would be Stardust, which is a blockchain software-as-a-service (SaaS) offering that enables game publishers to easily create and implement blockchain assets into their games.
Giving a tip to the Indian blockchain developers, Gokal said: “Find your conversation partners, discuss with them and then start building projects”.
Solana is a crypto startup that builds and develops crypto apps for decentralized apps and marketplaces. The startup was founded in 2018 and is based in San Francisco, California.
“Both NFT and Defi have scope to grow multifold. Blockchain and crypto have the potential to replace everything that has a marketplace. Entrepreneurs should be looking at all the technology areas that are being replaced and have the potential to be replaced by these solutions. What is important is to have the right talent base,” Gokal stated.