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Here’s the Bull Case for Ethereum Rival Solana (SOL), According to InvestAnswers

source-logo  dailyhodl.com 08 June 2023 20:08, UTC

A widely-followed analyst is giving a bullish outlook on the blockchain development of the Ethereum (ETH) competitor Solana (SOL).

In a new interview with Paul Barron, the pseudonymous host of InvestAnswers says that the Solana ecosystem is undergoing impressive upgrades.

“What amazed me about Solana early on – we’re talking 25, 26 months ago – was I was looking for an ETH killer to protect my ETH position. If there was something coming for it, I needed to be on it. But the type of developments that they have done over those last 26 months – mind-blowing, absolutely crazy.”

He says the improvements to the blockchain project like Jump Crypto’s open-source validator client Firedancer will boost scalability and network processing times.

“But what’s really intriguing to me is this, is how they’re going to scale as they go forward with Firedancer and they have a thing called side-scaling and this basically will change exactly how they go forward. Firedancer is a Solana validator developed by Jump Crypto and it aims to significantly enhance Solana scalability and most importantly, what people don’t focus on, is reduce latency times down to essentially milliseconds. This will pose a huge threat to many other things…

This came from [crypto analytics firm] Messari actually. They talk about how Firedancer puts Solana in the range of CEX (centralized exchange) latency times, i.e. the ability to run a New York Stock Exchange or a NASDAQ or multiple exchanges. And they go on and talk about things like security and expenses and processing times and, again, latency, which is so important.”

According to the analyst, the upgrades going on in the ecosystem set it apart from many of the other blockchain projects and it will lead to more development and use cases.

“These are some of the things that I think are just mind-blowing about Solana that many people kind of don’t understand. They lump it in the same category with other layer-1s, layer-2s, but it is so far ahead because of some of those things that I mentioned and it all comes down to scale. How can you onboard a billion people The answer is with a truckload of scale. And how do you have a breadth of use cases, the answer is zero latency and a ton of throughput.”

Solana is trading for $18.73 at time of writing, down 8% during the last 24 hours.

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