A Bank of America strategist says that Solana's recent 'network performance issues' won't stand in the way of it becoming 'the Visa of crypto.'
Bank of America digital asset strategist Alkesh Shah has predicted that Ethereum competitor Solana could become the “Visa of the digital asset ecosystem” in a Jan 11 research note.
Critics however argue its speed comes at the cost of decentralization and reliability but Shah thinks the benefits outweigh the drawbacks: He went on to suggest that Solana is taking a slice of Ethereum’s market share due to its low fees, ease of use, and scalability while Ethereum may be relegated to “high-value transaction and identity, storage and supply chain use cases,” wrote Shah, as“Ethereum prioritizes decentralization and security, but at the expense of scalability, which has led to periods of network congestion and transaction fees that are occasionally larger than the value of the transaction being sent.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solana Predicted to Eat Away at Ethereum's Market Share by Bank of AmericaBank of America analyst Alkesh Shah believes that Ethereum will continue losing its dominance to Solana
Read more »
Bank of America reducing overdraft fees, eliminating insufficient funds feesBank of America estimates that these changes will cut its overdraft-fee revenues by 97% from where they were in 2009.
Read more »
Bank of America to slash some checking account fees and eliminate othersNation's second-largest bank also will stop charging customers when they bounce a check.
Read more »
Bank Of America Cuts Overdraft Fees, Eliminates Insufficient Funds FeesIt's the latest move away from the practice amid years of pressure from critics who say the fees unfairly target vulnerable communities
Read more »
Bank of America cuts overdraft feesBank of America is slashing the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks.
Read more »
Bank of America Reducing Overdraft Fees to $10, Eliminating Other ChargesStarting in May, BofA will cut the fee it charges customers to overdraft and eliminate fees for bounced checks. The bank is also eliminating two smaller fees as well.
Read more »