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A report carried out by Bank Of America on digital assets concluded that the Solana cryptocurrency could become the Visa of the cryptographic ecosystem and this due to its ease of use, low transaction rates and stability.
This is confirmed by Alkesh Shah, digital asset strategist at BoFa, who pointed out that Solana cryptocurrencies were compared with Ethereum in relation to security and Defi.
Shah assures that in the Bank of America report, he cites at least some 100 decentralized applications that work with the Solana network that facilitate you from Peer to peer-to-peer trades to NFT markets.
In the world of cryptocurrencies, it is common to compare transactions per second (TPS) on blockchains with those on credit cards. So Visa, you can drive in theory 24,000 TPS, but actually has an average of 1,700. Ethereum’s is , It should be noted that many projects are trying to solve the scalability issues, but you may have to wait until Ethereum 2.0.
With Ethereum, the estimates for June 2020 said that I thought I would get to 100,000 TPS. But Solana, by his own estimates, will outperform Visa and Ethereum in theory with 65,000 TPS in fractions of a cent.
“Solana prioritizes scalability, but a relatively less decentralized and secure blockchain has trade-offs, illustrated by various performance issues of the network from its inception. But Ethereum prioritizes decentralization and security”
Alkesh Shah, BoFa.
To Shah, Solana it has an ability to provide high performance, low cost and ease of use, thus it can create a blockchain optimized for uses such as micropayments, DeFi, NFT, decentralized networks and games.
The Solana runtime is a newly designed Ethereum Virtual Machine (EVM), and is constantly innovating to ensure users get the best rates.
Solana is currently listed in 149.100 dollars per cryptocurrency. Stands out for having liquidated more than 50,000 million transactions, have more than 15,000 million dollars in total value and has more than 5.7 million non-fungible tokens.
Solana is a less decentralized blockchain project, which prioritizes scalability. It is based on an open code that seeks to promote the development of DApps. It was released in 2021 and its native token is SUN. This is currently the fifth most valuable cryptocurrency, with a market capitalization of 50,05 millions of dollars.
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