Solana ($SOL) Could ‘Become the Visa’ of Crypto, Bank of America Analyst Says - Aliens: AI Crypto News & Markets Updates

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Solana ($SOL) Could ‘Become the Visa’ of Crypto, Bank of America Analyst Says

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CryptoGlobe

Sat, Jan 15, 2022

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Alkesh Shah, a digital asset strategist at Bank of America has revealed he believes Solana ($SOL) has the potential to “become the Visa” of the cryptocurrency space as it focuses on scalability, low transaction fees, and ease of use.

He added Solana may soon take a share of Ethereum’s market share over its low transaction fees and focus on scalability, pointing out Ethereum “prioritizes decentralization and security, but at the expense of scalability, which has led to periods of network congestion.” While Ethereum can handle around 12 transactions per second in its current state Solana has, according to data from its network , been consistently processing over 2,400 transactions per second.

Shah explained that Ethereum’s prioritization could “optimize it for high-value transactions and identity, storage and supply chain use cases” but noted this leaves room for Solana and other scalable networks to take some of its market cap.

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