Bernstein: Solana has become a leader in the implementation of blockchain payments

Experts of the investment company Bernstein have published a report according to which the Solana network SOL $187.71 Solana -0.08% Market capitalization $88.52 billion VOL. 24 hours $0.87 billion is winning the race to introduce blockchain payments in the virtual asset market.

Bernstein analysts Gautam Chugani and Mahika Sapra noted in the report that the Solana network’s market share has become dominant in terms of the value of transferred stablecoins compared to the market leader Ethereum ETH $2,806.61 Bridged Ether (StarkGate) 6.56% Market capitalization $0.23 billion VOL. 24 hours $1.98 billion .

Experts say that the single-tier design of the Solana blockchain provides faster and more direct access to cryptocurrency platforms and applications. According to Chugani and Sapra, the high throughput and low transaction costs have led to an increase in the number of payments using stablecoins on the Solana network.

At the same time, experts emphasize that in terms of the volume of native stablecoins issued in the network, Solana is inferior to Ethereum, with figures of $ 2.2 billion and $ 26.4 billion, respectively.

Bernstein analysts point out that Solana has yet to enter the B2B sector and other user payment systems. Experts called the problem of network scalability the main obstacle to mass adoption. According to the experts, Solana should increase its throughput at least 15 times, i.e. from 700 to 10,000 transactions per second.

Earlier, Solana’s development team announced that the launch of new projects would be suspended while technical issues related to network congestion and transaction errors are resolved.