Bank of America: “Solana will become the analogue of Visa in the world of cryptocurrencies”

Bank of America: “Solana станет аналогом Visa в мире криптовалют”

  • Solana and other altcoins claim market share ETH
  • The platform stands out for its high bandwidth, low fees and good scalability
  • Bank of America strategist believes Solana will become an analogue of Visa payment system in the world of digital assets

In the fourth quarter of last year, some altcoins, including Solana showed steady growth. Now many traders and investors are considering them as an alternative to ETH.

While the founder of Solana claims otherwise, the platform is already competing with Ethereum. Bank of America digital asset strategist Alkesh Shah is confident that the situation will only get worse in the future.

In his opinion, Solana “captivates” with its simplicity and low fees. While critics claim that the project is not decentralized and unreliable, Shah believes that this is a small price to pay for all the benefits.

“The benefits of Solana create a blockchain optimized for permanent use … These are micropayments, DeFi, and other Web 3.0 projects, ”Shah said.

According to the strategist, Solana can take a position analogue of Visa, but in the world of digital assets. It is an affordable and simple service for small transactions, while ETH is suitable for larger transactions.

By comparison, Ethereum’s maximum throughput is 20 TPS. In the case of Visa, this indicator is 65 10 TPS, for Solana – 65 000 TPS.

That is why Ethereum is losing part of the market, yielding to altcoins. While Solana is not without its challenges, it is a fast-growing project with high potential.

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