When Solana was introduced in April of 2019, its innovative use of clocks and approach to timing of transactions poised it to become the fastest blockchain in the world upon its release. Today it has maintained that speed and precedence, reflected in the growth of the Solana ecosystem. With 489 million SOL tokens in circulation, approximately 1500 nodes, and just under 900 active monthly Developers, Solana has finally joined Ledger Live, helping it shed its light on even the farthest corners of the crypto-sphere. We sat down with Kristoff, a member of the Solana development team and spoke about this exciting new integration and what its representation means for the future of the blockchain, and the opportunity it presents for Developers and End-Users of all ecosystems.
What does decentralization mean for you personally? As an individual and as a Developer?
Kristoff “The biggest point for me is fairness. Because nowadays it is very easy to fake elections, and do all of these things but if we have a real world mechanism in place based on Blockchain, which is not possible to temper with or to fake or anything, it is the main point that drives me.”
Tell me about the solana integration? What was the driving motivator behind it and why was it important to have that integration represented on Ledger Live?
Kristoff “Simply because of the hardware wallet. I think a lot of people don’t really know how to store their private keys securely. For years in cryptocurrency we have seen so many people lose their passwords, forget their pin codes and lose their private keys and we think that hardware wallets are a really nice option. Our wallet, which is a command line interface that -in some extreme point of view, you can say is a wallet-, supports Ledger Nano hardware and we decided ‘ok we can help Ledger Live to have Solana also on desktop version and on mobile version.’ ”
What do you think is the most important element/facet or feature of the Solana integration with Ledger? How do you ultimately see it serving the end user?
Kristoff “I think its ease of doing things on Solana, because technically you can do everything on the CLI, but it’s not easy. So if you bring this functionality to more user-friendly environments, it will basically make it easier to interact with the platform.”
What are some things we can expect from the SOL coin or Solana integrations on Ledger Live in the future?
Kristoff “Since we have not released the integration yet, we are going to do it in steps. The first release will implement some features, and the next release will implement the rest of the features. When we are done with that, I believe we will have some new features on Solana build that will be ready to be supported on Ledger. For example; staking, token (SOL) transfers, etc. All kinds of things.”
In your opinion, how can companies support this type of cultivation and expansion of talent and expertise?
Kristoff “I think with this bank mindset you feel that you trust the bank and there is a possibility to revert mistakes, and to fix mistakes. But in this decentralized space, you have to be really, really, really focused. Because, for example, if you lose your key, you lose your money and nobody can help you with anything. No Solana, no admin, nothing. There is just cryptography and mathematics. Like ok…you have a billion years to try and guess it (laughing). I think this is major. Also like security, if we focus on security more and build more secure platforms customers will trust it more and more…and that will help everybody.”
In what ways would you like to see Developers grow and expand within the DAPP Sector in the future?
Kristoff “I think one of the major points right now is security. Especially this year when DeFi attracted a lot of investors and a lot of people. Right now we have huge money on the platform and so we have to secure it somehow. Maybe a little more focus on that area would be perfect.”
What opportunities do you see partnerships, and the ability to integrate products and DApps into Ledger Live, creating for developers in the future and what impact would you say a platform like Ledger live will have on both the Defi communities and Developers within that space?
Kristoff “I think the impact is (especially if you make things easier for end customers) you just bring more people, right? So I think the Ledger mission is to really spread the DeFi and increase the community and invite new people and help them really get into it. For the opportunities, I think definitely more protocols. Because right now, a lot of protocols are coming from the financial world to the DeFi world and they are implemented, but again they are first implemented on Developers’ minds and programs. So I think there will be more protocols and user-friendly environments.”
We are super excited for this collaboration and the release of the first implementation of this Solana integration on Ledger Live. We can not wait to inspire other Development teams and see what innovations they implement in Ledger Live as we move forward with our mission of supporting and amplifying the work of Blockchain Developers everywhere.
“For years in cryptocurrency we have seen so many people lose their passwords, forget their pin codes and lose their private keys and we think that hardware wallets are a really nice option. Our wallet, which is a command line interface that -in some extreme point of view, you can say is a wallet-, supports Ledger Nano hardware and we decided ‘ok we can help Ledger Live to have Solana also on desktop version and on mobile version.’"
“I think with this bank mindset you feel that you trust the bank and there is a possibility to revert mistakes, and to fix mistakes. But in this decentralized space, you have to be really, really, really focused.”
“I think the Ledger mission is to really spread the DeFi and increase the community and invite new people and help them really get into it. “