A widely followed analyst is giving a bullish outlook on the blockchain development of Ethereum (ETH) competitor Solana (SOL).
In a new interview with Paul Barron, the pseudonymous InvestAnswers host says that the Solana ecosystem is seeing impressive improvements.
“What surprised me about Solana from the beginning, we are talking about 25 or 26 months ago, was that I was looking for an ETH killer to protect my position in ETH. If there was something to come, he had to be in it. But the kind of developments they’ve done in the last 26 months: mind-blowing, absolutely crazy.”
He says improvements to the blockchain project, such as Jump Crypto’s open-source validation client Firedancer, will increase the scalability and processing times of the network.
“But what really intrigues me is how they’re going to scale as they go with Firedancer and they have a thing called side scaling and this will basically change exactly how they go. Firedancer is a Solana validator developed by Jump Crypto and aims to significantly improve the scalability of Solana and more importantly what people don’t focus on is reducing latency times to essentially milliseconds. This will pose a great 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, meaning 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 updates being made to the ecosystem set it apart from many of the other blockchain projects and will lead to more development and use cases.
“These are some of the things that I think are amazing about Solana that a lot of people don’t understand. They group it in the same category with other layers 1 and 2, but it’s way ahead because of some of the things I mentioned and it all comes down to scale. How can you board a billion people? The answer is with a truckload of scale. And since it has such a breadth of use cases, the answer is zero latency and a ton of performance.”
Solana is trading at $18.73 at time of writing, down 8% over the last 24 hours.
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