In a research note, analyst Alkesh Shah argued that Solana's value lies in how it can handle thousands of transactions per second.
Solana has the potential to become "the Visa of crypto," according to Bank of America.
"Its ability to provide high throughput, low cost and ease of use creates a blockchain optimized for consumer use cases like micropayments, DeFi, NFTs, decentralized networks (Web3) and gaming."
"Ethereum prioritizes decentralization and security, but at the expense of scalability, which has led to periods of network congestion and transaction fees that are occasionally larger than the value of the transaction being sent."
That isn't to say that Solana is without its problems, as Shah adds:
"Solana prioritizes scalability, but a relatively less decentralized and secure blockchain has tradeoffs, illustrated by several network performance issues since inception."
A number of developers building on Solana have expressed exasperation by the disruption as traders "lose a lot of confidence when the nodes go down."