Bank of America Highlights Solana in a Recent Research Note

An analyst from the global banking organization has said that Solana could successfully take market share away from Ethereum due to the differentiated design.

Solana Gets Another Greenlight

A senior digital assets executive, Alkesh Shah, from Bank of America, has revealed his views on Solana after a meeting with Solana Foundation’s Lily Liu in a research note to their clients.

Shah was appointed as the head of Global Cryptocurrency and Digital Asset Strategy on October 4, along with the launch of their first report in the space “Digital Assets Primer: Only the first inning.” He has opined that Solana could become the Visa of the digital asset ecosystem due to the ease of use and low cost.

“While Solana prioritizes scalability at the expense of being a less decentralized and secure blockchain, ethereum prioritizes decentralization and security at the expense of scalability,” mentioned Shah in his client notes, as quoted by Matthew Fox from Business Insider. “Ethereum’s lack of scalability has led to periods of network congestion and transaction fees that are sometimes higher than the value of the underlying transaction.”

Source: Solana Blog

“Bitcoin is important, but the digital asset ecosystem is so much more. Our research aims to explore the implications across industries, including finance, technology, supply chains, social media, and gaming. Digital assets are transforming the way in which markets, businesses, and central banks operate,” mentioned Shah in the official press release of the launch of its digital assets research division.

Additionally, as previously reported by Solana.News, the Solana ecosystem seems to be flourishing even amidst the ongoing marketwide slump. In the first week of January, it was revealed that Serum, Jupiter Aggregator, and Drift Protocol recorded all-time highs of trading volumes on their platforms. This is indicative of the high interest of retail and institutional investors in the network’s ecosystem, even during a bleak period for the entire market.

In a time where economies around the world are focusing on reducing their carbon footprint, as previously reported by Solana.News, the Solana Foundation revealed on December 23 that the blockchain network has attained carbon neutrality for the year 2021 by funding a process called ‘refrigerant destruction that is listed by Green America as one of the highest impact ways to diminish carbon emissions.

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