This article was first published on Blog – Civic Technologies, Inc.
“Markets don’t wait for engineering timelines.”–Vinny Lingham
As background, Ethereum transaction fees have soared since last summer, blocking the mainstream adoption of DeFi and squeezing companies that depend on a functional blockchain ecosystem. With a second layer solution requiring months of development, chain-agnostic Civic and its non-profit partner, Identity.com, are paving a better path by leveraging Solana’s blazing speed and low fees that scale as the ecosystem grows.
Vinny’s point was that companies experiencing the stranglehold of high ETH fees don’t have time to simply wait months for a software fix that may work. There are many available alternatives, including solutions like Solana that are better-positioned for the future.
For its part, Civic believes that with identity as a cornerstone of blockchain infrastructure, a safer, more sustainable financial ecosystem may develop. And, with its unique expertise in identity-based key management and recovery, Civic will help make financial tools more accessible to mainstream consumers.
The journey to working with Solana began several years ago, when Vinny was first introduced to Anatoly in the most unusual way. As Anatoly recounts to Vinny during the virtual event, they met through a mutual friend that plays underwater hockey, back when Solana was looking for its seed round of funding. Anatoly said it really was that weird sport with a small community that led to the check that got the company its start.
- 03:15: Civic is integrating with the Solana blockchain to leverage blazing speed and scalable fees.
- 23:18: Solana CEO Anatoly Yakovenko joined Civic CEO Vinny Lingham for a fireside chat. Spoiler: they met through a ...
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Blog – Civic Technologies, Inc.