.BankofAmerica believes that Solana will be able to edge out Ethereum
Even though 2021 was a banner year for Ethereum, its performance was overshadowed by Solana.
SOL was up more than 2,200% against ETH last year, with its native blockchain emerging as one of the leading contenders for the smart contract crown. With that being said, the SOL/ETH pair is down 8% this year, with the whole market enduring a significant correction. Shah believes that Solana could transform into a Visa-like behemoth, becoming the go-to payment protocol within the cryptocurrency industry.is more decentralized, Shah claims that it is not scalable enough, which drives up the cost of transactions. Hence, the analyst believes that scalability is a reasonable trade-off:
Solana prioritizes scalability, but a relatively less decentralized and secure blockchain has trade-offs, illustrated by several network performance issues since inception. Solana, however, has its own share of performance issues. The network went down on Sept. 14 due to a bug, exposing the fragility of the “Ethereum killer.” This wasn’t a one-off event: Solana also came to a halt on Dec. 4 for five hours. Earlier this month, the network started experiencing throughput issues.
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