According to Bank of America, Solana could take over market shares from Ethereum and become a visa of the Digital Asset Ecosystem” - altcoins
According to Bank of America, Solana could take over market shares from Ethereum and become a visa of the Digital Asset Ecosystem” - altcoins
The analyst of the Bank of America says that Solana Ethereum could take out market shares. With the indication that Solana is optimized for micro payments, games and non -fungible tokens (NFTS), the analyst expects "Solana could become the visa of the ecosystem for digital assets".
Bank of America on crypto, Ethereum and Solana
The analyst of the Bank of America (Bofa), Alkesh Shah, published a research note on cryptocurrency this week, in which he argued that Solana Ethereum could take out market shares.
The analyst of the Bank of America described that Solana is "producing a blockchain that is optimized for consumer applications by prioritizing scalability, low transaction fees and user -friendliness", citing Lily Liu, member of the Solana Foundation.
Its user -friendliness and low costs make the crypto for micro payments, games and non -fungible tokens (NFTS). With more than 50 billion transactions that have been handled since the introduction in March 2020, and a blocked total value of $ 10 billion, said Shah:
Solana could become a visa of the digital asset ecosystem.
Solana is the fifth largest cryptocurrency with a market capitalization of around $ 46 billion. Ethereum is the second largest crypto with a market capitalization of almost $ 400 billion at the time of writing, based on data from Bitcoin.com Markets.
Shah found that Solana's differentiation of Ethereum "proves to be successful" and noticed that the evaluation gap is offering a chance for Solana. His proof-of-history blockchain contributes to improving the performance of his proof-of-stake consensus mechanism, the analyst of the Bank of America said:
These innovations enable the processing of industry -leading ~ 65,000 transactions per second with average transaction fees of $ 0.00025, while they remain relatively decentralized and secure.
In the meantime, the Ethereum blockchain prioritized decentralization and security at the expense of scalability, described Shah and added that the scalability problem from Ethereum had led to periods of the network overload and extremely high transaction fees.
Shah emphasized that other scalable blockchains could reduce the market share of Ethereum, Shah said:
The prioritization of Ethereum could optimize for high -quality transactions and applications in the areas of identity, storage and supply chain.
KryptoBörse Coinbase recently The " eth The scalability will improve. " "While we welcome the next hundred million users to Crypto and Web3, challenges with scalability for ETH will probably grow."
Last week, an analyst of JPMorgan said that the introduction of Merge and Layer 2.0 from Ethereum would lead to accelerate transactions and could significantly reduce energy consumption. However, another analyst by JPMorgan that Ethereum is due to scaling problems Dominance could lose in decentralized finance (defi).
In the meantime, Solana is not without problems. Last week, bitcoin.com news that the Solana network" A worsened performance due to an increase in transactions with high arithmetic effort ... This leads to longer charging and transaction processing times and some failed transactions ".
Do you agree to the Bank of America that Solano will take over market shares from Ethereum and become the Visa of Crypto? Let us know in the comment area below.
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