Solana could take away some of Ethereum's market share and become 'the Visa' of the crypto world, Shah said.
Solana could take away some of Ethereum’s market share and become “the Visa” of the crypto world, Shah said.
Despite this significant advancement, the protocol could reach new heights soon, Alkesh Shah from Bank of America. He argued that Solana is superior to some of its rivals as it offers low transaction costs and enhanced scalability relative. Moreover, it utilizes both proof-of-stake and proof-of-history technology, granting it further advantages.
“These innovations allow for the processing of an industry-leading ~65,000 transactions per second with average transaction fees of $0.00025 while remaining relatively decentralized and secure,” Shah said regarding Solana’s speed. Solana had “a real shot” at becoming the next most dominant digital asset project because of its speed of scaling.report
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