{"id":55845,"date":"2022-01-13T16:39:46","date_gmt":"2022-01-13T14:39:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=55845"},"modified":"2025-09-04T03:33:51","modified_gmt":"2025-09-04T00:33:51","slug":"bank-of-america-foresees-solana-as-the-visa-of-the-crypto-world","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bank-of-america-foresees-solana-as-the-visa-of-the-crypto-world\/","title":{"rendered":"Bank of America foresees Solana as the Visa of the crypto world"},"content":{"rendered":"

Solana could surpass Ethereum and gain the status of the “Visa payment system for the digital asset ecosystem.” This is according to a Bank of America analysts’ report, writes CoinDesk<\/a>.<\/p>\n

The analysts arrived at such conclusions based on assessments of scalability, transaction fees, and ease of use.<\/p>\n

Solana is comparatively better optimized for consumers in use cases such as microtransactions, DeFi<\/a>, NFT<\/a>, Web 3.0<\/a> and gaming. The blockchain hosts over 400 dapps<\/span>.<\/p>\n

Since its inception, the network has processed 50 billion transactions, the total value of funds locked in DeFi protocols has amounted to $11 billion, and more than 5.7 million NFTs have been issued on the blockchain. For comparison \u2014 in the last fiscal year, Visa users made 164.7 billion transactions.<\/p>\n

Analysts also drew attention to the downtimes<\/a> in Solana, citing a lower degree of decentralization and security compared with the blockchain of the second-largest cryptocurrency.<\/p>\n

\n

\u201cIn Ethereum [this is achieved] due to lower throughput. Blockchain congestion is observed, and transaction fees sometimes exceed the value transmitted by the network. As a result, the project can focus on large transactions and on use cases such as storage, supply chains and identification data,\u201d the analysts wrote.<\/p>\n<\/blockquote>\n

Bank of America believes that as user interest in alternative L1 networks grows, Ethereum’s dominance will decline.<\/p>\n

Earlier, analysts from Electric Capital concluded<\/a> that the ecosystems Polkadot, Solana, NEAR, BInance Smart Chain, Avalanche and Terra are growing faster than Ethereum.<\/p>\n

Specialists from CoinGecko calculated<\/a> that investments in Solana became the most profitable in 2021 among the top-30 coins.<\/p>\n

Earlier, FTX exchange chief Sam Bankman-Fried stated that Solana has all the chances to become the next Bitcoin<\/a>.<\/p>\n

Pantera Capital’s co-chief investment officer Joey Krug predicted that in 10-20 years up to half of all transactions will go to Ethereum<\/a>.<\/p>\n

At the end of 2021, Vitalik Buterin spoke about the role of ZK-Rollups in Ethereum’s scalability<\/a> and proposed a method to reduce transaction costs in L2<\/a>.<\/p>\n

In December the launch of the Kintsugi testnet<\/a> occurred to test the process of transitioning to Ethereum 2.0<\/p>\n

Subscribe to the ForkLog channel on YouTube!<\/p>\n","protected":false},"excerpt":{"rendered":"

Solana could surpass Ethereum and gain the status of the ‘Visa payment system for the digital asset ecosystem.’ According to a Bank of America report cited by CoinDesk.<\/p>\n","protected":false},"author":1,"featured_media":55846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2027,46,1159],"class_list":["post-55845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-america","tag-ethereum","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55845","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=55845"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55845\/revisions"}],"predecessor-version":[{"id":55847,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55845\/revisions\/55847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/55846"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=55845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=55845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=55845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}