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.
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