Analysts at bank of America, a financial giant, said the smart contract platform Solana (SOL) could become a “visa” for digital assets.
According to a new report, Alkesh Shah is a leading candidate for top altcoin Ethereum (ETH) to prioritize decentralization and security at the expense of scalability, while SOL is the opposite and eats up ETH’s market share. It states that there is.
“”[Solana’s] Innovation can handle industry-leading 65,000 transactions per second and average transaction charges of $ 0.000025 to maintain a relatively decentralized and secure state. “
According to Shah, Solana’s blockchain is optimized for micropayments related to games and non-fungible tokens (NFTs), comparing its network to payment giant Visa.
“Sorana has the potential to become a visa for the digital asset ecosystem.
Ethereum prioritization has the potential to optimize Ethereum for high-value transactions and identity, storage, and supply chain use cases. “
Last year, SOL’s price surged to over 4000%, significantly surpassing Ethereum in terms of growth and raising its market capitalization to up to $ 47 billion. According to the report, since its launch in March 2020, Solana has confirmed over 50 billion cleared transactions and over 5.7 million NFTs have been created on the blockchain.
SOL has been praised for its speed, but has recently been talked about in terms of performance issues. Blockchain has been plagued by long latency and network congestion due to distributed denial of service attacks that occurred in both December and January.
SOL is redeeming for $ 150 at the time of writing. This is a 12.5% increase from the 7-day low of $ 133. ETH is trading at $ 3,266, up 8.5% over the same period.
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Featured images: Shutterstock / William Bradberry / Vladimir Sazonov / Nikelser Kate