“Solana could be the Visa of the digital asset ecosystem,” Alkesh Shah, global crypto and digital asset strategist at Bank of America wrote in a research note published Tuesday. References were made to more than 400 decentralized applications on the Solana network, which host everything from P2P exchanges to NFT markets.

It was stated that Ethereum could be a blockchain that could be used in areas such as “high-value transactions and identity, storage and supply chain”.

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The crypto market always compares transactions per second (TPS) on blockchains with transactions on credit card networks such as MasterCard and Visa. Visa says it's theoretically capable of processing 24,000 TPS per second, but in reality it averages around 1,700. For Ethereum, the number of transactions per second is 15. Considering the demands of on-chain decentralized applications, this figure is not much.

There are numerous projects trying to solve Ethereum's scalability issues. Sidechain concept Polygon and Rollup concept Arbitrum are some of these projects. However, it is unlikely that the congestion in the Ethereum network will be resolved any time soon before ETH 2.0 is fully deployed.

Vitalik Buterin claims that with the transition to ETH 2.0, it can reach 100,000 transactions per second, but as we said, it is not very clear when ETH 2.0 will be implemented at full capacity.

Solana, on the other hand, claims that they have a capacity of 65,000 transactions per second, surpassing both Ethereum and Visa.

Although Bank of America praised Solana's processing capacity in its report, referring to the recent outages in the Solana network, it stated that the network is not yet very secure and has performance problems.

The report stated that Avalanche is also an important candidate to become the best blockchain, surpassing both Ethereum's transaction speed and Solana's security and performance issues.