Can we all use the Solana coin to pay online soon? The Brave Browser enables and integrates the Solana ecosystem – but why Solana?
Brave, the company behind the well-known Brave Browser, announced on May 24, 2022, that they are integrating Solana blockchain and SOL transactions. The company is obliged to do this pay attention to “Ethereum Killer” Solana.
More than 50 million people worldwide now use the browser, which has its own cryptocurrency wallet as well as its own cryptocurrency BAT, which rewards users for viewing tailored advertising. The brave ecosystem and blockchain are expected to merge over time.
“The integration of Solana into Brave’s wallet is an important step towards bringing billions of users to Web3“, explained Anatoly Yakovenko, co-founder of SOL blockchain.
Solana: Full integration with Brave Browser
According to the official announcement, there should be one “full integration of the Solana ecosystem” give to the brave ecosystem. One of the reasons for this is the low transaction fees in blockchain.
“Thanks to the partnership with Solana, Brave enables users to explore Web 3 with significantly lower transaction fees and faster processing times than with the Ethereum network.“
For comparison: An Ethereum transaction currently always costs still about $ 30. The price of a SOL transaction is simply included $ 0.00025. At 100,000 transactions per second, blockchain transaction throughput is also significantly higher than Ethereum’s (15 TP / s). Therefore, the integration of the Solana chain can be implemented immediately and is at least theoretically suitable for the masses. In the past, however, network failures have occurred again and again.
Along with the 1.39 release of the desktop browser, users can now buy, sell and hold SOL and fungible Solana tokens (SPL) with the Brave wallet and buy SOL and other cryptocurrencies with fiat. In addition, holders of Basic Attention Token (BAT), the original cryptocurrency in the Brave ecosystem, can use BAT on the SOL chain packaged via Wormhole, Ethereum and Ethereum Virtual Machine (EVM) compatible chains.
Solana is set to become the default network for Brave
Brave shared in the announcement that Solana will be the core network for the wallet: “Brave will continue to deepen this integration in the near future, by adopting Solana as the standard network for Brave wallet and BAT and continuing to support the vibrant Solana community. “
In addition, the browser will soon support Solana blockchain dApps. Purchasing NFTs with BAT and the Brave browser should also be possible in the future. The company works with Solana’s leading NFT marketplace, Magic Eden. Users can then use the Brave or Phantom wallet to purchase the digital assets.
Since the transactions are much cheaper than with Ethereum, the NFT purchase with the Brave browser would also be significantly cheaper than on Ethereum-based NFT platforms.
Will the Ethereum killer Solana win?
Due to the much higher scalability and the significantly lower transaction costs, Solana is often referred to as the “Ethereum killer”. However, network failures and congestion have occurred time and time again in the past. However, these problems were solved relatively quickly.
As the Solana blockchain uses a new consensus mechanism, namely a mix of the proof-of-stake and the proof-of-history consensus mechanism, unforeseen technical difficulties may continue to arise. But even with Ethereum, technical difficulties may soon arise due to the “merger”.
Nevertheless, the team behind the crypto browser trusts Solana and not Ethereum. After the Ethereum 2.0 upgrade is complete, Ethereum may be able to keep up with competitors in terms of transaction costs and throughput. However, this will probably not be the case until 2023 – if the transition goes smoothly.
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