Blinks technology, a revolutionary innovation within the Solana ecosystem, allows users to interact directly with the blockchain via a simple URL or QR code, eliminating the need for complex wallet setup or transaction processes. This innovative interaction method significantly lowers the barrier to entry into the blockchain world, expands the application boundaries of blockchain technology, and promotes the deep fusion and transformation of the Solana ecosystem with the Internet world.
The “Solana Internet” is more than just a new concept; it represents a brand-new network ecosystem. As the slogan on the Blinks official website states: “It’s time to connect Solana to the entire internet.” Through Blinks technology, the vision of connecting Solana to the entire internet is gradually becoming a reality.
The CGV research team has deeply analyzed the intrinsic link between Solana Actions and Blinks technology and their potential applications across various scenarios, projecting how this technology can drive wider adoption of Solana and blockchain technology.
Before exploring how Blinks technology revolutionizes our interaction with the blockchain, we must first understand its foundational technology — Solana Actions. Just like a skyscraper needs a solid foundation, the convenience and powerful functionalities of Blinks rely on the support of Solana Actions.
(1) Actions allow the use of complex business logic (on-chain and off-chain) to build transaction message APIs, which can be previewed, signed, and sent by clients. Native buttons, QR codes, or URLs (Blinks) can initiate Actions.
Examples of Actions:
(2) Blinks are a way to interact with Actions. Blinks allow users to execute blockchain transactions directly from URLs, enabling access to decentralized applications from any platform or device.
Examples of Blinks:
(3) The Relationship Between Actions and Blinks
Imagine Actions as a “kitchen” where you can prepare a variety of complex and delicious dishes (i.e., blockchain transactions). You can add various ingredients (on-chain and off-chain logic) and follow recipes (API specifications) to cook. This kitchen is very flexible, capable of making a wide range of dishes to meet different needs.
Blinks, on the other hand, are like a “delivery service.” When you have prepared the dishes in the kitchen, you can deliver them to customers (users) through the delivery service (Blinks). Customers do not need to come to the kitchen or know how the dishes are prepared; they only need a simple link or QR code to enjoy these delicacies.
In summary, the relationship between Actions and Blinks is akin to that of a “kitchen” and a “delivery service.” Actions are responsible for preparing transactions, while Blinks deliver these transactions to users, enabling them to execute these transactions easily and quickly. This approach greatly simplifies the user experience, making blockchain technology more accessible and user-friendly.
From first principles, Blinks simplify user operations by “reducing jumps,” enhancing user experience, expanding blockchain technology application scenarios, and promoting the adoption of decentralized applications. These features significantly enhance the convenience and usability of the crypto ecosystem, driving broader blockchain technology adoption.
(1) From the user psychology perspective, “reducing hops” helps:
Simplify the decision-making process: Each hop or additional click increases the user’s cognitive burden and decision-making time. Simplifying the process reduces the user’s thinking time, allowing them to make purchase decisions more quickly.
Reduce drop-off points: Each step is a potential drop-off point; users may give up due to long page loading times or complex operations. Reducing the number of hops can significantly reduce this attrition.
(2) Looking at successful internet product cases, see how “reducing hops” significantly improves conversion rates and user experience:
TikTok’s video shopping feature allows users to purchase products directly within the video through embedded shopping links or shopping carts.
In 2023, the number of TikTok users shopping in the US increased by 72.3%, reaching 23.7 million; 67% of TikTok users said they were inspired to make purchases by the content on the platform without the intention to shop; 68% of Generation Z consumers said they are more willing to purchase directly on TikTok.
After Amazon introduced the One-Click Purchase feature, the conversion rate increased significantly. Industry experts estimate that this feature has increased the conversion rate by at least 70%. This simplified purchasing process has also been followed by many other e-commerce platforms.
About 70% of shopping cart abandonment rates are partly due to complex checkout processes. After introducing the “one-click purchase” feature, the average consumption of users increased by 28.5%, the purchase frequency increased by 43%, and the types of purchased products increased by 36%.
(1) Social Media Tipping:
(2) Crowdfunding:
(3) On-Chain Voting:
(4) NFT Minting and Bidding:
(5) Cryptocurrency Trading:
(6) Token-Gated Content:
(7) Advertising and Promotions:
(8) Gaming Interactions:
(9) Enhancing Community Interactions:
(10) One-Click On-Chain Operations:
It’s worth emphasizing that the financial innovation direction of the Solana ecosystem, PayFi, is highly compatible with the user experience optimization brought by Blinks.
PayFi, as defined by Solana Foundation Chair Lily Liu, is a groundbreaking financial concept focused on optimizing settlement times. Unlike DeFi, it emphasizes the advantages of instant settlement, which holds significant value for investment trading and financial markets.
Combining Blinks’ functionalities can help promote PayFi in creator monetization, invoice financing, payment processing risk management, and fostering global private credit pools on Solana.
Through these application scenarios, we can see that Blinks is not just a technical tool; it is a bridge connecting users, creators, businesses, and financial markets. The combination of Blinks and PayFi heralds a new era of more efficient, convenient, and secure financial transactions.
In mid-July, the Solana Foundation announced a major initiative: a $400,000 grant for open-source developers working on Solana Actions and Blinks Tools. This grant program has officially launched, inviting innovative projects from developers worldwide. Simultaneously, the Send project team launched the “Blinkathon” hackathon series for developers, aiming to inspire creativity in building and promoting the Blinks ecosystem supported by SEND. These initiatives not only provide financial support for developers but also offer a broad stage for the innovation and application of Blinks technology.
The CGV team believes that the “Solana Internet” is not just about technology integration; it also represents a conceptual revolution. It embodies the perfect fusion of blockchain technology and the Internet spirit, signaling the arrival of an open, interconnected, and shared digital world.
As Blinks technology continues to mature and its application scenarios expand, we are witnessing the dawn of a new blockchain era. Let us watch closely as the “Solana Internet” reshapes our digital lives.
Blinks technology, a revolutionary innovation within the Solana ecosystem, allows users to interact directly with the blockchain via a simple URL or QR code, eliminating the need for complex wallet setup or transaction processes. This innovative interaction method significantly lowers the barrier to entry into the blockchain world, expands the application boundaries of blockchain technology, and promotes the deep fusion and transformation of the Solana ecosystem with the Internet world.
The “Solana Internet” is more than just a new concept; it represents a brand-new network ecosystem. As the slogan on the Blinks official website states: “It’s time to connect Solana to the entire internet.” Through Blinks technology, the vision of connecting Solana to the entire internet is gradually becoming a reality.
The CGV research team has deeply analyzed the intrinsic link between Solana Actions and Blinks technology and their potential applications across various scenarios, projecting how this technology can drive wider adoption of Solana and blockchain technology.
Before exploring how Blinks technology revolutionizes our interaction with the blockchain, we must first understand its foundational technology — Solana Actions. Just like a skyscraper needs a solid foundation, the convenience and powerful functionalities of Blinks rely on the support of Solana Actions.
(1) Actions allow the use of complex business logic (on-chain and off-chain) to build transaction message APIs, which can be previewed, signed, and sent by clients. Native buttons, QR codes, or URLs (Blinks) can initiate Actions.
Examples of Actions:
(2) Blinks are a way to interact with Actions. Blinks allow users to execute blockchain transactions directly from URLs, enabling access to decentralized applications from any platform or device.
Examples of Blinks:
(3) The Relationship Between Actions and Blinks
Imagine Actions as a “kitchen” where you can prepare a variety of complex and delicious dishes (i.e., blockchain transactions). You can add various ingredients (on-chain and off-chain logic) and follow recipes (API specifications) to cook. This kitchen is very flexible, capable of making a wide range of dishes to meet different needs.
Blinks, on the other hand, are like a “delivery service.” When you have prepared the dishes in the kitchen, you can deliver them to customers (users) through the delivery service (Blinks). Customers do not need to come to the kitchen or know how the dishes are prepared; they only need a simple link or QR code to enjoy these delicacies.
In summary, the relationship between Actions and Blinks is akin to that of a “kitchen” and a “delivery service.” Actions are responsible for preparing transactions, while Blinks deliver these transactions to users, enabling them to execute these transactions easily and quickly. This approach greatly simplifies the user experience, making blockchain technology more accessible and user-friendly.
From first principles, Blinks simplify user operations by “reducing jumps,” enhancing user experience, expanding blockchain technology application scenarios, and promoting the adoption of decentralized applications. These features significantly enhance the convenience and usability of the crypto ecosystem, driving broader blockchain technology adoption.
(1) From the user psychology perspective, “reducing hops” helps:
Simplify the decision-making process: Each hop or additional click increases the user’s cognitive burden and decision-making time. Simplifying the process reduces the user’s thinking time, allowing them to make purchase decisions more quickly.
Reduce drop-off points: Each step is a potential drop-off point; users may give up due to long page loading times or complex operations. Reducing the number of hops can significantly reduce this attrition.
(2) Looking at successful internet product cases, see how “reducing hops” significantly improves conversion rates and user experience:
TikTok’s video shopping feature allows users to purchase products directly within the video through embedded shopping links or shopping carts.
In 2023, the number of TikTok users shopping in the US increased by 72.3%, reaching 23.7 million; 67% of TikTok users said they were inspired to make purchases by the content on the platform without the intention to shop; 68% of Generation Z consumers said they are more willing to purchase directly on TikTok.
After Amazon introduced the One-Click Purchase feature, the conversion rate increased significantly. Industry experts estimate that this feature has increased the conversion rate by at least 70%. This simplified purchasing process has also been followed by many other e-commerce platforms.
About 70% of shopping cart abandonment rates are partly due to complex checkout processes. After introducing the “one-click purchase” feature, the average consumption of users increased by 28.5%, the purchase frequency increased by 43%, and the types of purchased products increased by 36%.
(1) Social Media Tipping:
(2) Crowdfunding:
(3) On-Chain Voting:
(4) NFT Minting and Bidding:
(5) Cryptocurrency Trading:
(6) Token-Gated Content:
(7) Advertising and Promotions:
(8) Gaming Interactions:
(9) Enhancing Community Interactions:
(10) One-Click On-Chain Operations:
It’s worth emphasizing that the financial innovation direction of the Solana ecosystem, PayFi, is highly compatible with the user experience optimization brought by Blinks.
PayFi, as defined by Solana Foundation Chair Lily Liu, is a groundbreaking financial concept focused on optimizing settlement times. Unlike DeFi, it emphasizes the advantages of instant settlement, which holds significant value for investment trading and financial markets.
Combining Blinks’ functionalities can help promote PayFi in creator monetization, invoice financing, payment processing risk management, and fostering global private credit pools on Solana.
Through these application scenarios, we can see that Blinks is not just a technical tool; it is a bridge connecting users, creators, businesses, and financial markets. The combination of Blinks and PayFi heralds a new era of more efficient, convenient, and secure financial transactions.
In mid-July, the Solana Foundation announced a major initiative: a $400,000 grant for open-source developers working on Solana Actions and Blinks Tools. This grant program has officially launched, inviting innovative projects from developers worldwide. Simultaneously, the Send project team launched the “Blinkathon” hackathon series for developers, aiming to inspire creativity in building and promoting the Blinks ecosystem supported by SEND. These initiatives not only provide financial support for developers but also offer a broad stage for the innovation and application of Blinks technology.
The CGV team believes that the “Solana Internet” is not just about technology integration; it also represents a conceptual revolution. It embodies the perfect fusion of blockchain technology and the Internet spirit, signaling the arrival of an open, interconnected, and shared digital world.
As Blinks technology continues to mature and its application scenarios expand, we are witnessing the dawn of a new blockchain era. Let us watch closely as the “Solana Internet” reshapes our digital lives.