Solana Could Become the Visa of Digital-Asset World: Bank of America
January 14th, 2022

In a research note, the bank said Solana and other blockchains could take Ethereum’s market share over time.

Bank of America told clients in a research note after hosting Solana Foundation member Lily Liu that theSolana blockchain could become "the visa of the digital asset ecosystem" as it focuses on scalability, low transaction fees and ease of use .

Solana has seen high adoption rates since its launch in 2020. It has settled more than 50 billion transactions (global payments giant Visa processed 164.7 billion in the year ended Sept. 30 ), with a total value locked of more than $11 billion, and was reported by analyst Alkesh Shah on Tuesday. Used to mint more than 5.7 million non-fungible tokens (NFTs), the published report reads. Solana is optimized for consumer use cases such as micropayments and gaming, the bank said.

“Solana prioritizes scalability, but a relatively less decentralized and secure blockchain has trade-offs, as illustrated by several network performance issues since its inception,” Shah said. “Ethereum prioritizes decentralization and security at the expense of scalability, which leads to periods of network congestion and transaction fees that can sometimes be greater than the value of the transactions being sent.”

Over time, Solana and other blockchains will likely steal market share from Ethereum and will begin to differentiate themselves by user adoption and developer interest, Bank of America said.

For more investment research information and market information, please Subscribe to our media:


Arweave TX
Ethereum Address
Content Digest