Solana Could Become The Visa Of Digital-Asset World: Bank Of America

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Solana Could Become The Visa Of Digital-Asset World, Bank Of America said. Through research, they conveyed this message to their clients. After hosting Solana foundation member Lily Liu.

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Solana Could Become The Visa Of Digital-Asset World: Bank Of America. Image source:Coindesk

Solana Could Become The Visa Of Digital-Asset World: Bank Of America

In a research note on Tuesday, After hosting Solana foundation member Lily  Liu the bank of America’s digital asset strategist Alkesh shah has anticipated that Ethereum rival Solana could become “the Visa of the digital ecosystem”. As it focuses on scalability, cheaper transaction fees, and ease of use”

Additionally, Shah further expressed in a research note that “After Solana‘s inauguration in 2020, it has experienced a firm adoption. Also, it has completed up to 50 billion transactions. And Visa the giant fintech global payment medium processed 164.7 billion transactions in the year ended on Sep.30). Further, it holds an entire worth of more than $11billion. As well, it was used in minting up to 5.7 million non-fungible tokens (NFTs). Moreover, the bank said that Solana is developed for consumers’ use cases, for example, micropayments, and gamings.

Words By Shah:

“Solana prioritizes scalability, but a relatively less decentralized and secure blockchain has trade-offs. illustrated by several network performance issues since inception,”

“Ethereum prioritizes decentralization and security. But at the expense of scalability, which has led to periods of network congestion and transaction fees. That is occasionally larger than the value of the transaction being sent.”

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