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 19,2024
Everything You Need To Know About World Chain
April 19,2024
Ethereum TPS Charts Have A New Leader In Degen Chain
April 18,2024
New AML And CFT Policies Supported By Senator Elizabeth Warren
April 18,2024
Two NFT Games Offloaded As Yuga Labs Aims To Liberate BAYC Team
April 17,2024
Klickl Obtains FSP In Abu Dhabi As The UAE Looks Toward The Future
April 17,2024
New Meme Coin Bursts Onto The Scene As DRDOGE Skyrockets In Value
April 16,2024
Everything You Need To Know About The 2024 Bitcoin Halving
April 16,2024
Top Tax Experts Provide Valuable Advice For Cryptocurrency Holders
April 15,2024
Web3 Fundraising Deals - 10th April To 15th April, 2024
April 15,2024
Crypto Becomes Increasingly Popular As Brazilian UFC Fighter Promotes Bitcoin
April 15,2024
Yomi Provides Insight Into DOGE Golden Cross As SHIB Whale Activity Surges
April 14,2024