January 13, 2022

Bank Of America Claims Solana Will Be "The Next Visa"!

 Bank of America is confident Solana (SOL) will be the Visa for the digital asset ecosystem.

In a report published Tuesday, Bank of America believes features of scalability, low transaction costs, and easy access help Solana to emerge as "the next Visa".

Analysts have revealed Solana's acceptance in the market has been very strong since its launch in 2020.

It is understood Solana has processed more than 50 billion transactions, while Visa recorded a record transaction of 164.7 billion.

Solana also saw over $ 11 billion in total value locked (TVL) and has generated over 5.7 million non-fungible tokens (NFT).

When compared to Ethereum, Solana emphasizes more scalability and less decentralization. But Ethereum is more concerned with decentralization and security, less focused on scalability.

So, it is no wonder why these networks are often faced with the issue of expensive gas costs and activity congestion.

Bank of America has no hesitation in claiming Solana will outperform Ethereum’s market share and will be the craze of developers and investors in the future.

But is it true to Bank of America's expectations? Ye lah, Solana has been very much dealing with network issues, especially the problem of DDoS attacks.