According to a new Bank of America report, Solana (SOL) may soon be known as the 'Visa' of the digital asset ecosystem. This is due to many factors, chief among which are its emphasis on scalability, usability, and low transaction fees.
The bank therefore believes that the Solana blockchain could eventually be transformed into the equivalent of Visa in the realm of cryptocurrencies as well as NFTs. At the moment however, many still actively prefer Ethereum (ETH).
Moreover, despite its benefits, critics pointed out that Solana's speed comes at the price of decentralisation and dependability. On the other hand, supporters feel the benefits far outweigh the drawbacks, as Solana's ability to be comparatively fast, low cost, and relatively easy to utilise produces a blockchain ideal for consumer use cases such as micropayments, NFTs, decentralised finance, gaming, and Web 3.0.
Additionally, Solana offers some of the industry's quickest transaction speeds and promotes scalability, however a blockchain that is less decentralised and safe has certain disadvantages too, as seen by various network performance and security-related difficulties since its debut.
 
Solana (SOL) May Soon Be Known As The Visa Of The Digital Asset Ecosystem.
Subscribe to the CryptoWeekly Newsletter
Get the top stories, funding deals, technical analysis, cryptocurrency jobs and much more delivered to your inbox, every Monday morning.
April 27,2024
Eminem Gets Involved With Crypto Through New Ad
April 26,2024
ConsenSys Fights Back Against The SEC And Initiates Legal Action
April 26,2024
Popular Crypto Influencer Sentenced To Seven Years In Prison
April 25,2024
Solana Community Looks Forward To Much Needed Update
April 25,2024
Bitcoin Makes History By Becoming The Scarcest Asset In The World
April 24,2024
HBAR Skyrockets After BlackRock Successfully Tokenizes MMF On Hedera
April 24,2024
Jack Dorsey Will Tap Into Africa For New Bitcoin Mining Initiative
April 23,2024
12 Solana Meme Coin Projects Listed As Scams By ZachXBT
April 23,2024
Drama At The SEC As Two Lawyers Accused Of Cheating In Crypto Case
April 22,2024
Crypto Community Highly Concerned About Section 702 Renewal
April 22,2024
Adidas Remains Committed To NFTs Despite Lack Of Institutional Interest
April 22,2024