Solana Could Become the ‘Visa of Digital-Asset World': Bank of America

The Solana blockchain could go the “Visa of the integer plus ecosystem” arsenic it focuses connected scalability, debased transaction fees and easiness of use, Bank of America told clients successful a probe enactment aft hosting Solana Foundation subordinate Lily Liu.

Solana has experienced beardown adoption since launching successful 2020. It has settled implicit 50 cardinal transactions (Visa, the planetary payments giant, processed 164.7 cardinal transactions successful the twelvemonth ended Sept. 30), much than $11 cardinal successful full worth locked and successful excess of 5.7 cardinal NFTs minted, expert Alkesh Shah wrote successful the enactment published Tuesday. Solana is optimized for user usage cases specified arsenic micropayments and gaming, the slope said.

“Solana prioritizes scalability, but a comparatively little decentralized and unafraid blockchain has tradeoffs, illustrated by respective web show issues since inception,” Shah said. “Ethereum prioritizes decentralization and security, but astatine the disbursal of scalability, which has led to periods of web congestion and transaction fees that are occasionally larger than the worth of the transaction being sent.”

Bank of America said Solana and different blockchains could drawback marketplace stock from Ethereum implicit time, and volition statesman to separate themselves done idiosyncratic adoption and developer interest.