Paypal interested in Solana to scale its payment network, Solana may be 4x faster – DiarioBitcoin

Paypal interested in Solana to scale its payment network, Solana may be 4x faster - DiarioBitcoin By Angel Leon @gubatron

In a recent episode of the “Unchained” podcast, Jose Fernandez Da Ponte, a Senior Vice President of Paypal revealed that the firm was studying currencies such as Solana, Ethereum, Polkadot and Algorand in their layers 1 and 2 to scale payments. * **

At the Solana Breakpoint conference in Lisbon, Portugal, the developers revealed that the Solana blockchain can be 4X faster than now (~ 50K TPS x 4 = ~ 200K TPS!).

DeFi ecosystems and the nascent metaverse are pushing the utility of the SOL token.

The online payment firm Paypal constantly monitors the progress in layer 1 and 2 of the different blockchain networks to scale their capacity of payments per second.

José Fernandez da Ponte, Senior Vice President of Paypal said:

“I’m sure if you ask me in six weeks from now I could give you four or five different names, this is how exciting this is.”

Anatoly Yakovenko, co-founder of Solana spoke at the Breakpoint conference:

“In relativistic terms, Solana is about 4 times slower than it should be. The speed of light takes about 110 milliseconds to travel half the world. It’s going to take a lot of blood, sweat and tears to get there, but in theory, that’s the theoretical limit of how fast the network can be. ”

The developers believe that the Solana network may be faster than it is now.

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