Solana cryptocurrency is named better than bitcoin and ethereum

Visa said that one of its Ethereum (ETH) competitors has unique technological advantages over other blockchains as a payment platform. In a new blog post, the financial services titan reports that the Solana (SOL) smart contract platform has features that set it apart from its competitors. According to the authors, low and predictable transfer fees, high throughput, and strong node support will attract more and more users.

According to Visa, in some aspects, Solana even has an advantage over BTC and ETH.

«Solana's transaction fees are not only affordable, typically less than $ 0.001, but also predictable. This helps make the network attractive for exploring efficiencies and cost savings for existing payment transactions. [На графіку] below Solana clearly stands out in terms of cost compared to Bitcoin and Ethereum, whose fees can fluctuate unpredictably depending on the demand for transactions executed on the network. It may be more difficult for payment companies to manage a network with unpredictable transaction costs within their products, which could lead to consumer confusion,» Visa representatives said in the article.

Visa also said that because of Solana’s performance, it has decided to expand its stablecoin program to include SOL as a means of testing the blockchain’s ability to meet the financial needs of modern corporations.

«Solana's unique technological advantages, including high throughput due to parallel processing, low cost due to localized commission markets, and high resilience due to its large number of nodes, work together to create a scalable blockchain platform with a compelling value proposition for payments.

These are some of the reasons why we have decided to expand our stablecoin payments pilot to include transactions over the Solana network.By piloting our stablecoin settlement functionality on Solana, we plan to test whether Solana is able to meet the requirements of modern corporate treasury operations," the experts added.

At the time of writing, SOL is trading at $ 18.72, up 4.76% overnight. The total number of coins circulating on the market is $ 7.69 billion, and traders have made daily trading deals worth $ 450.77 million.