Solana has been one of the most successful cryptocurrency ventures in the last year. Its native coin has gained its USD value by approximately 4,300% in one year and is now the fifth-largest digital asset with a market capitalization of about $50 billion.

Despite this huge progress, Alkesh Shah of Bank of America believes the protocol will soon reach new heights. He suggested that Solana is better than some of its competitors because it has lower transaction costs and more scalability. Furthermore, it employs both proof-of-stake and proof-of-history technologies, giving it additional benefits.

Related post: Solana rises to a new high, reaching $218

Solana, because of its distinct architecture, has the potential to eat into Ethereum's market share, according to Shah.

It should be noted that the latter is still using the proof-of-work approach. Ethereum transactions per second are likewise far slower than those of Solana.

"These advances enable an industry-leading 65,000 transactions per second with average transaction costs of $0.00025 while being relatively decentralized and safe," Shah said of Solana's performance.

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Following that, the analyst boldly predicted that the fifth-largest cryptocurrency project might one day function as "the Visa of the digital asset ecosystem."

This might happen, he continued, since the protocol effectively supports micropayments. It is also important in the gaming and non-fungible token universes.

Sam Bankman-Fried, the founder of the cryptocurrency exchange FTX, is also a strong supporter of the blockchain project. He has said that Solana has a "serious chance" at being the next most dominant digital asset initiative because of its rapid expansion.

Another benefit of Solana is that it is environmentally conscious. According to a recent analysis, it is actually less hazardous to the environment than Google, the online surfing behemoth. According to the statement, two Google searches cost more energy than one transaction on the Solana network.

It doesn't stop there. A single Solana transaction uses 24 times less energy than charging a mobile phone. In actuality, the project's network consumes around 3,186,000 kWh per year, which is similar to the average power use of 986 US families.

Fake SHIB addresses spotted on Coinmarketcap

The company behind the meme-crypto has notified investors that CoinMarketCap has posted three fraudulent SHIB addresses on its website.

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As a result, the team has issued a warning that the addresses contained on the Binance Smart Chain, Solana, and Terra are not safe to use.

Furthermore, the team advised users not to deal with these contracts or acquire SHIB from them since "funds would be irreparably destroyed."

Related post: Shiba Inu Spikes in Value by Double Digits following Coinbase Listing

Shiba Inu's team also claimed that CoinMarketCap "has failed to interact with the SHIB team on token page changes and has knowingly enabled hostile individuals to vandalize our listing."

In response to the claim, CoinMarketCap admitted that it did include three SHIB addresses. However, the platform claims that these are not malicious addresses, but rather addresses for the wrapped asset:

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To be clear, the addresses are not harmful in any way. There is precedence for just publishing the contract addresses for wrapped assets in order to improve the user experience and promote cross-chain transactions.

The CoinMarketCap crew also asked the Shiba Inu team to contact them via "formal channels," which led to a support website.