Solana Leads the Way in Blockchain Payment Competition, According to Bernstein Analysts – cryptosyringe

There has been a recent surge in market liquidity, positive investor expectations, and strong growth in stablecoin quotes. Solana is striving to enhance the adoption of blockchain payments in light of these developments. According to Bernstein data cited by The Block, Solana is leading this effort.

While Ethereum previously held the lead, Solana now claims a market share of 43%, making it the new frontrunner. Bernstein attributes Solana’s success to its user-friendly design and accessibility to cryptocurrency exchanges, unlike Ethereum with its complex L2 networks.

The low transaction fees and high bandwidth of Solana have resonated with users, leading to a significant increase in stablecoin transactions on the network.

However, it is important to note that Ethereum still surpasses Solana in the volume of native stablecoins issued, with $26.4 billion compared to Solana’s $2.2 billion.

Bernstein analysts recommend that Solana should boost its throughput capacity by at least 15, preferably 20 times. This would mean increasing the number of transactions from 700 per second to over 10,000 per second. If Solana can successfully upgrade its network to achieve this, it could expand its payment capabilities and venture into the B2B sector.

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