The current market capitalization is mainly due to Solana's superior speed and transaction processing performance.
The report cites Solana's throughput (TPS), which can process thousands of transactions per second, 3000% higher than Ethereum's TPS; Solana's number of active users per day is 1300% higher than Ethereum's; and transaction fees on the #Solana network are nearly 5 million percent cheaper.
Solana's superior speed and cost-effectiveness gives it a significant advantage over #Ethereum in the payments and remittance space, the report claims. In particular, Stable Coins is cited as a key driver of decentralized financial activity, using Solana's superior processing speed to transfer savings to users.
The developer and co-founder of Tornado Cash, Roman Storm, faces criminal charges for creating the #cryptocurrency platform after a judge denied his motion to dismiss a case brought by the U. S. government.
In a Sept. 26 conference call, New York District Court Judge Katherine Polk Fila denied Storm's motion to dismiss three federal charges brought by the Justice Department. Storm and co-founder Roman Semenov were indicted in August 2023 on charges of conspiracy to launder money, conspiracy to violate sanctions and conspiracy to engage in an unauthorized money transfer business.
On September 26, SEC Chairman Gary Gensler told attendees at a conference on the U. S. Treasury market that he would continue to change the definitions of exchange and alternative trading systems. Gensler was referring to issues affecting the efficiency and sustainability of the U. S. Treasury bond market, but the proposal drew sharp criticism from the digital asset sector.
One of the steps the SEC took to strengthen the government bond market was to change the definition of dealer to clarify the role of market participants, such as principal trading firms that can use algorithmic and high-frequency trading strategies.
Read us at: Compass Investments
