Alt Coin

Top Ethereum Rival Could Become the ‘Visa’ of Crypto Assets, According to Bank of America Analyst

An analyst from monetary big Bank of America is saying that sensible contract platform Solana (SOL) may turn into the “Visa” of digital property.

According to a brand new report, Alkesh Shah says that whereas high altcoin Ethereum (ETH) prioritizes decentralization and safety at the expense of scalability, SOL does the reverse, making it a first-rate candidate to eat into ETH’s market share.

“[Solana’s] innovations allow for the processing of an industry-leading 65,000 transactions per second with average transaction fees of $0.000025 while remaining relatively decentralized and secure.”

Shah says Solana’s blockchain is optimized for micropayments related to gaming and non-fungible tokens (NFTs), which has him evaluating the community to funds big Visa.

“Solana may turn into the Visa of the digital property ecosystem.

Ethereum’s prioritization may optimize it for high-value transactions and id, storage, and provide chain use instances.”

SOL has seen its price soar over 4000% in the final yr, vastly outpacing Ethereum in phrases of development whereas bringing its market cap up to $47 billion. Since its launch in March 2020, Solana has seen greater than 50 billion settled transactions and greater than 5.7 million NFTs minted on its blockchain, per the report.

Though praised for its velocity, SOL has made headlines just lately over its efficiency points. The blockchain has been plagued with lengthy wait durations and community congestion due to distributed-denial-of-service assaults that occurred each in December and January.

SOL is exchanging fingers at $150 at time of writing, a 12.5% improve from its seven-day low of $133. ETH is buying and selling for $3,266, an 8.5% improve over the similar interval.

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Featured Image: Shutterstock/Willyam Bradberry/Vladimir Sazonov/Nikelser Kate

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