Coinbase to adds Solana wallet support as the best alternative to Ethereum


Solana blockchain is getting better level technical support slowly to move toward rapid growth in this industry because of its Proof-of-history concept, which allows blockchain transactions at a very low cost with very high scalability.

Recently Nasdaq listed popular crypto exchange of the US, Coinbase exchange, announced its plan to integrate Solana wallet, decentralized applications (DApps), and non-fungible tokens (NFTs) hosted on the network of Solana to the Coinbase wallet. 

A few days ago, Coinbase launched its service CoinbasePay to allow users to pay funds directly to fund the crypto wallets. Now the Solana wallet integration is an effort of Coinbase to provide its users to facilitate transactions at a low cost easy to each other, without facing a delay of high fees. 

With this addition of Solana blockchain integration support, Coinbase supports a total of 10 blockchain networks which include Ethereum, Avalanche, Polygon, BNB Chain, Bitcoin (BTC), Dogecoin (DOGE), Litecoin (LTC), Stellar Lumens, and the Ripple network.

On this integration announcement plan, Coinbase exchange said: 

“Many users have been looking for networks that are optimized for scale, offering low-cost transactions and fast transaction times. One of the fastest-growing blockchains over the past year has been Solana.”

This statement from Coinbase confirmed that it is only Solana, which is better in micropayments, from the point of view of the Coinbase team. 

Solana standing with multiple milestones

Solana Network grabbed huge attention in the industry because of its Proof-of-history concept and in the last 12 months, Solana showed that it is the best alternative to Ethereum blockchain. 

The Solana project is still in the initial phase of growth, where it has very limited numbers of developer team support but still stands strong in this industry. The Defi ecosystem of Solana currently stands with $6.94 billion worth of crypto assets ( TVL). 

Solana’s proof-of-history protocol is standing uniquely in this industry as a real use case in the crypto transactions at a very low cost but experts believe that soon Cardano project may create a very big competition against Solana with its Hydra concept, which can provide 1 million TPS scalability, which is 10 times more than the highest hypothetical scalability of Solana.

Read also: Whale believes Cardano (ADA) TVL will hit Billions soon