Is Solana a rival to Ethereum?

Could you elaborate on whether Solana poses a serious challenge to Ethereum's dominance in the cryptocurrency space? I'm curious to understand the basis of this rivalry, given the established reputation and widespread usage of Ethereum. What specific features or advantages does Solana offer that make it a contender in this highly competitive industry? Additionally, how do market participants and experts view this potential rivalry? I'm keen to gain insights into this topic from your perspective as a professional in the field.