Competitor for ETH according to Bank of America

Bank of America expects Ethereum to get a decent competitor in 2022 that is more optimized for consumer use.

What is known

One of the largest financial institutions in the United States believes that the Solana digital currency will be the main competitor for Ethereum. Analysts at Bank of America believe that Solana will be able to succeed by integrating the Proof-of-History innovation consensus.

The strengths of the Solana blockchain include high throughput, low transaction fees, and ease of use. The network also has disadvantages. One of the key drawbacks is scalability due to decentralization and security, resulting in occasional failures.

Recall that now the cost of Solana is just over $143. Over the past week, the rate has risen by 1.34%, including a slight drop (4.2%) in the last 24 hours. The historical maximum of the cryptocurrency was set in early November 2021, having risen in price to $260.06. Since then, the rate has fallen by almost 45%.

A source: business insider