PayPal executive: Solana is more suitable for the payment sector than Ethereum, capable of processing 1,000 transactions per second

ChainCatcher news, at the Solana Breakpoint 2024 conference, PayPal's blockchain strategy and cryptocurrency head José Fernández stated that Ethereum is not the best solution for the payments space, which is also the reason why PayPal chose to issue stablecoins on the Solana network.

Fernández pointed out that Solana offers token scalability, lower transaction costs, and the ability to process 1,000 transactions per second, making it very suitable for mainstream adoption.