BoA: Solana is primed to beat Ethereum and be the ‘Visa of digital asset ecosystem’ - Aliens: AI Crypto News & Markets Updates

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BoA: Solana is primed to beat Ethereum and be the ‘Visa of digital asset ecosystem’

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AMB Crypto

Thu, Jan 13, 2022

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In a note to investors on Tuesday shortly after hosting Solana Foundation member Lily Liu, the investment bank opined that Solana’s ease of use, scalability and low transaction fees had primed it to become and worthy contender of Ethereum , and might even beat it someday soon.

This has made it optimum for carrying out micropayments and gaming transactions, claimed Shah adding, “Solana prioritizes scalability, but a relatively less decentralized and secure blockchain has trade-offs, illustrated by several network performance issues since inception.” Network outages and sustained attacks have in fact become commonplace on the network, especially now that it has slipped into the mainstream.

Its main competitor and top DeFi network Ethereum on the other hand suffers from its own set of issues related to scalability, which in fact has been a key factor behind the rise of alt-chains like Solana.

Noting the same, Shah said, “Ethereum prioritizes decentralization and security, but at the expense of scalability, which has led to periods of network congestion and transaction fees that are occasionally larger than the value of the transaction being sent.” In this sense, Ethereum could become the blockchain for “high-value transactions and identity, storage and supply chain use cases,” while Solana grows itself as a settlement layer.

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