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Here is the fastest blockchain in the world!
1.01pm ▪ 3 minute read ▪ by Eddy S.
In the dynamic world of cryptocurrencies, transaction speed is a key factor influencing the adoption and efficiency of blockchains. Recently, an analysis highlighted the fastest blockchains of the moment, revealing impressive performance and significant technological advancements.
Solana: the fastest blockchain in the world of cryptocurrencies!
Solana stands out as the fastest blockchain, with a record number of 91 million transactions processed in a single day, April 6, 2024. This feat represents an average rate of 1500 crypto transactions per second (TPS), which is 46 times faster faster than Ethereum and more than 5 times faster than Polygon. Despite these impressive numbers, Solana only exploited 1.6% of its theoretical maximum speed of 65,000 TPS.
In second place is Sui, another non-EVM blockchain, which reached 854 cryptographic TPS in July 2023. Other fast non-EVM blockchains include TON with 175 TPS and Near Protocol with 118 TPS. On average, non-EVM blockchains are almost 4x faster than EVM-enabled ones.
Are EVM blockchains less efficient?
Among EVM blockchains, BNB Smart Chain (BSC) leads the race with 378 TPS, followed by Polygon with 190 TPS. However, even combined, Ethereum and its top ten scaling solutions reach a total of 500 crypto TPS. This puts them ahead of the BSC but still behind Solana and Sui.
This data shows that non-EVM blockchains currently dominate in terms of processing speed of cryptographic transactions. This could be attributed to a more efficient architecture! Or to less congestion due to fewer transactions on the chain. However, it is important to note that almost all real TPS records have been set in the last 12 months. This indicates a trend towards continuously improving blockchain performance.
While Solana and Sui lead the charge as the fastest blockchains, it remains to be seen how future improvements and planned upgrades will impact their ability to handle an even greater volume of cryptographic transactions without compromising the stability of the network. With the constant evolution of blockchain technology, the race for speed is far from over.
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Eddy S.
The world has evolved and adaptation is the best weapon to survive in this wavering universe. The crypto community manager at the base interests me in everything that touches or comes close to the blockchain and its derivatives. With a view to sharing my experience and learning about a domain that I am passionate about, I write informative and décontractés a la fois articles.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be relied upon as investment advice. Do your research before making any investment decisions.