Crypto billionaire Sam Bankman-Fried says solana is better than ethereum as it’s one of the few networks able to handle mass adoption

Crypto billionaire Sam Bankman-Fried says solana is better than ethereum as it’s one of the few networks able to handle mass adoption

Sam Bankman-Fried, the 29-year old that heads up the FTX exchange, believes solana is better than ethereum as it's one of the few blockchains with a plan to accommodate mass adoption. Bankman-Fried has a net worth of $22.5 billion thanks to his crypto business, which makes him the youngest person to enter the after Facebook boss Mark Zuckerberg. He spoke at Yahoo Finance and Decrypts's "Crypto Goes Mainstream" on Tuesday about how the biggest upside of the solana network is its ability to handle an enormous amount of users and transactions. Solana is a decentralized finance (DeFi) peer-to-peer network that many have billed as an "ethereum killer", based on its quicker transaction speed and lower fees when compared to its larger rival. The network can run 60,000 per second at $0.0015 per transaction, while ethereum handles just 17,000 at a cost of $5.80 each. "Solana is one of the few currently existing public blockchains that has a really plausible roadmap to scale millions of transactions per second at you know, fractions of a penny per transaction, which is a scale that you need for this," Bankman-Fried said. "That is not where a lot of other blockchains have been focusing, including