Former Goldman Sachs executive Raoul Pal says that Solana (SOL) is one of his top altcoin picks and is potentially the most promising project outside of Ethereum (ETH).
In a new interview with Altcoin Daily, the Real Vision founder says Solana co-founder Anatoly Yakovenko, commonly referred to as Toly, is becoming an important thought leader in the crypto space and represents the Solana ecosystem nicely.
“Too many people get too involved with what they like because they like it and they’re a part of that thing. But I just observe Solana… I see Toly as a thought leader. He’s accepting of others around him, he builds bridges and doesn’t destroy them.
I see a very engaged developer community. And people are really, really passionate about building their ecosystem and building their technology, and there’s a lot of people who use it, and there’s a lot of public awareness of the chain.”
Recently, payments giant Visa announced it is building new stablecoin settlement capabilities on Solana. According to Pal, the chances are slim that Visa isn’t at least somewhat on the right track.
If digital assets are destined for another market expansion in the next couple of years, which Pal believes, he says that Solana could be one of the safest bets.
“So, why is Visa using Solana? Because it’s fast. It’s fast, and it does a good job.
It’s not Ethereum. It’s different from Ethereum and even the way Toly has been talking about, ‘Could SOL be a layer-2 on ETH?,’ or ‘How do these worlds integrate?’ It just shows that for Visa to make a wrong decision is not that easy because things can be bridged, things can be interoperable…
I’ve just been observing that and the Solana space has not put a foot wrong for a long time now, just when everybody had maximum fear and hate over the space…
For me, it’s a great story. It’s still probably the best major story in the space outside of Ethereum because Ethereum is the big daddy. But we’re looking at the next stage down, where’s the next altcoin that has relative security, and you’re not taking a wild guess…”
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Featured Image: Shutterstock/Rattanamanee Patpong