Solana Will Soon Perform A Crucifixion Against Ethereum In Stablecoin Volume.
Solana will overtake Ethereum in stablecoin volume. There are quite a lot of people who use stablecoins to carry out transactions, this is because the area of activity in these stablecoins supports smart contracts.
So many crypto players or traders like it. In one month, the number of stablecoin users in making transactions reached $1.3 trillion, that's just a matter of last DECEMBER and the volume of active addresses continues to increase from year to year even though several obstacles have occurred, such as market turmoil.
In the last two years the ETHEREUM Network has been competing fiercely with TRON, this could allow other STABLECOINS, one of which USDT chooses to use much lower transfer fees. However, in 2023, SOLANA will oust TRON, which at that time was number two and has fierce competition against ETHEREUM.
This week, transactions using ethereum have reached 40% of all transactions taking place in cryptocurrency, Solana has 30% of transactions and Tron is in third place with 25%.
In calculating parameters, Solana has advantages that are far above average, such as being able to complete transactions in just half a second and the commission fees offered are also much cheaper, only around under one cent.
Visa also formed a partnership with Solana last year in an interbank exchange project, this is because carrying out transactions using blockchain has proven to be much easier and faster compared to the traditional methods that banks have been using.
In fact, VanEck once criticized Solana, they considered that the Solana network had the lowest position, this caused a brutal increase in the value of the coin.
There is only one problem with Solana, namely frequent failures when making transactions. However, this problem has been resolved by the SOLANA team and since February last year it has been operating stably and can overcome transaction disruptions due to mass printing of ordinals.
In overcoming this problem, not all networks can handle it well, but Solana was able to change its past shortcomings with success in 2023.
Solana developers had hopes of overcoming the network failure problem, so they created a new Firedancer validator and the launch is set for the first half of this year.