CDS Crypto News Breaking Crypto News – The Impact of Solana Institutional Adoption
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Breaking Crypto News – The Impact of Solana Institutional Adoption

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Breaking Crypto News - The Impact of Solana Institutional Adoption

Breaking Crypto News – What Advantages does Solana Institutional Adoption?

Breaking Crypto News - What Advantages does Solana Institutional Adoption?
Breaking Crypto News - The Impact of Solana Institutional Adoption 1

Breaking Crypto News – In terms of total value locked (TVL), Solana is the fourth-largest blockchain and is quickly rising to the top of the institutional adoption network. Wormhole Foundation CCO and co-founder Robinson Burkey predicts that more financial institutions will be merging with the Solana blockchain in order to “future-proof” their products.

Solana and institutions make sense. Industry leaders like PayPal, Stripe, and Visa must future-proof their offerings. The best way to do that is by meeting their most forward-thinking users on the platforms they’re adopting. You’ll likely see many more institutional moments for Solana in the coming years.

Burkey

For the first time, PayPal moved its stablecoin, PayPal USD, outside of the Ethereum network last week by bringing it to the Solana network. In an effort to increase the stablecoin’s usefulness for regular transactions, the integration will allow Solana users to make low-cost transactions on the network using PYUSD. The second network to allow a stablecoin after Ethereum is the Solana blockchain, where global payments major Visa debuted its USD Coin in September 2023.

Solana Emerges as One of the Most Comprehensive Blockchain Networks

One of the most scalable blockchain networks that can manage a lot of transactions is Solana. Compared to Ethereum, which can only process 15 transactions per second (TPS) and has far higher gas fees (which start at $1 and can go as high as $50 during network congestion), Solana can theoretically process up to 65,000 TPS at an average transaction cost of $0.0025.

According to Ran Goldi, vice president of payments at Fireblocks, Solana’s architecture can effortlessly integrate the current flows of traditional payment institutions, which will lead to greater institutional adoption.

With confidential transfers, a basic payment requirement for large-volume processors, we will see additional names adopting the blockchain into their flows. The key, as I see it, is making sure your blockchain can support the “under the hood” payment requirements for compliance, regulation, and privacy.

Goldi

FAQ

What is Institutional Adoption of Crypto?

The term institutional adoption of crypto refers to the application of blockchain technology and digital assets in financial strategies by large organizations such as corporations and investment firms. They are investing more money in cryptocurrency and intend to do so in the future because they view it as a valuable component of their investment portfolio.

What is Network Congestion in Crypto?

When the volume of transactions on the blockchain network surpasses the network’s capacity, congestion arises, which causes delays in transaction processing. Blockchain networks become congested when there are more pending transactions than the network can handle.

For more up-to-date crypto news, you can follow Crypto Data Space.

Breaking Crypto News - The Impact of Solana Institutional Adoption
Written by
lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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