{"id":12402,"date":"2024-04-09T17:43:42","date_gmt":"2024-04-09T14:43:42","guid":{"rendered":"https:\/\/forklog.com\/en\/solana-leads-the-charge-in-blockchain-payments-says-bernstein\/"},"modified":"2024-04-09T17:43:42","modified_gmt":"2024-04-09T14:43:42","slug":"solana-leads-the-charge-in-blockchain-payments-says-bernstein","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/solana-leads-the-charge-in-blockchain-payments-says-bernstein\/","title":{"rendered":"Solana Leads the Charge in Blockchain Payments, Says Bernstein"},"content":{"rendered":"

Amid rising market liquidity, improved investor sentiment, and stablecoin dynamics, the Solana network has “taken the lead” in the push for blockchain payments, reports The Block<\/a>, citing a report by Bernstein analysts.<\/p>\n

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“A major shift in this cycle is Solana’s dominant market share (43%) in terms of stablecoin transfer value, compared to the previous rally’s market leader, Ethereum,” the experts stated.\u00a0<\/p>\n<\/blockquote>\n

Bernstein believes Solana’s single-layer architecture, as opposed to Ethereum’s complex L2 networks, provides direct access to cryptocurrency exchanges.\u00a0<\/p>\n

Furthermore, high throughput and low transaction costs have led to an increase in stablecoin settlements on the network.\u00a0<\/p>\n

\"Bernstein:
Stablecoin transfer volumes across various networks. Source: The Block.<\/figcaption><\/figure>\n

However, in terms of the volume of native stablecoins issued on the network, Solana still lags behind Ethereum, with figures at $2.2 billion and $26.4 billion, respectively.\u00a0<\/p>\n

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“The value of stablecoins recorded on the blockchain indicates a strong trend of digital dollar adoption in the crypto trading ecosystem, including as a currency for cross-border payments,” the report notes.<\/p>\n<\/blockquote>\n

Despite pilot projects with Visa and Shopify, analysts noted that Solana has yet to penetrate broader consumer payments or the B2B<\/span> sector.<\/p>\n

Among the main obstacles to mass adoption, Bernstein identified scalability issues. They believe Solana needs to increase its throughput 15-20 times\u2014from approximately 700 to over 10,000 transactions per second.\u00a0<\/p>\n

Earlier this year, Solana accounted for 49.3%<\/a> of global investor interest in blockchain ecosystems, according to CoinGecko.<\/p>\n

According to a forecast by Colosseum co-founder and former head of growth at Solana Foundation, Matty Taylor, the network is predicted to surpass Ethereum<\/a> in the number of consumer Web3 applications.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid rising market liquidity, improved investor sentiment, and stablecoin dynamics, the Solana network has “taken the lead” in the push for blockchain payments, reports The Block, citing a report by Bernstein analysts. “A major shift in this cycle is Solana’s dominant market share (43%) in terms of stablecoin transfer value, compared to the previous rally’s […]<\/p>\n","protected":false},"author":1,"featured_media":12401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1159],"class_list":["post-12402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=12402"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/12401"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=12402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=12402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=12402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}