Bank of America: Solana (SOL) I hope to win Ethereum! Apply for a cryptocurrency market visa

Bank of America, the second-largest bank in the United States, said Solana will continue to grow its market share with Ethereum and become the Visa of global cryptocurrency due to its low cost, high capacity and convenience. ease of use.

In a Jan. 11 survey, Bank of America digital heritage expert Alkesh Shah predicted Ethereum candidate Solana would prepare to apply for a visa for the digital heritage ecosystem.

Historically as of 2020, the Solana network has grown to become the 5th largest cryptocurrency with $47 billion in revenue. Solana was able to attract more users due to its faster operation and lower cost compared to the Ethereum blockchain. To date, Solana has been used to resolve over 50 billion applications and stream over 5.7 million NFTs.

However, while some in the financial world think Solana's quick acquisition is a trade-off between distribution value and trust, Alkesh Shah thinks it's worth more than hurting users. It (Solana) provides information, low cost, ease of use, micropayments, DeFi, NFT, decentralized web (Web3) and games, as a blockchain optimized for consumer products.

Alkesh Shah said Solana has had a significant impact on Ethereum business due to its low cost, ease of use and robustness, and he hopes to gradually change Ethereum practices into expensive and personal business . , Storage and supply chain use case, it features:

Currently, Visa performs an average of 1,700 exchanges per second (TPS), but the network can perform at least 24,000 exchanges per second. According to Solana, the Ethereum mainnet can handle up to 12 to 15 transactions per second. The blockchain can handle up to 65,000 transactions per second.

Alkesh Shah said honestly, “Solana is the most important thing, but at the cost of some distribution and security.

Just a few months ago, the Solana blockchain encountered three incidents, resulting in mergers and disruption. In response, Anatoly Yakovenko, founder of Solana Labs, denied the DDOS attack, saying it was just a medical condition for the new network. Austin Federa, communications manager at Solana Labs, said developers are now working to fix network issues, especially by improving business metrics.