Ethereum
“46x Faster Than Ethereum” – Solana Tops CoinGecko’s List of Fastest Blockchains
Solana Smart Contracts Platform (GROUND) tops CoinGecko’s list of fastest blockchains.
In a new publication, CoinGecko said Solana is 46 times faster than its rival Ethereum (ETH), the second largest digital asset by market capitalization, making it the fastest large blockchain on the market.
However, CoinGecko claims that Solana only reached 1.6% of its theoretical maximum throughput.
“Solana proved to be the fastest among major blockchains, with its average daily transactions per second (TPS) reaching an all-time high of 1,504 on April 6 this year amid the memecoin mania.
This makes Solana 46 times faster than Ethereum and more than five times faster than Polygon, which has the highest TPS among Ethereum scaling solutions.
Despite being ranked as the fastest blockchain, Solana has still only reached 1.6% of its theoretical maximum speed of 65,000 TPS.
CoinGecko statistics show that Solana’s highest throughput was 1,053.7 TPS, while Ethereum’s was only 22.70 TPS. The data also shows that Ethereum and its top 10 Layer 2 scaling solutions only combine for 500 TPS.
“In total, Ethereum and its ten largest scaling solutions recorded a total real TPS of 500, putting their combined processing speed ahead of BSC (Binance Smart Chain) but still slower than Solana and Sui.”
Other fast blockchains on the list include Sui Network (SUI) Binance Smart Chain (BSC), Polygon (MATIC), Toncoin (TONNE), Tron (TRON), Close Protocol (CLOSE) and Avalanche (AVAX).
Solana is trading at $172 at the time of writing, an increase of 7.63% in the last 24 hours.
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