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Solana (SOL) ranks the fastest blockchain: details
Dan Burgin
Using only about 1% of its capacity, Solana is 46 times faster than Ethereum
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According to a recent CoinGecko relationship, Solana is the fastest blockchain in the world at the moment. In just one day, the network processed over 95 million transactions.
CoinGecko’s report revealed that Solana boasts the highest daily average transactions per second (TPS) among blockchains, with a total of 1,053 TPS. Followed by Sui with 854 TPS, then BSC at 378 TPS, Polygon at 190 TPS, TON at 175 TPS, Tron at 159 TPS, Near at 117 TPS and Avalanche at 89 TPS.
Source: CoinGecko
In contrast, Ethereum manages 22.8 TPS and Bitcoin manages 10.7 TPS, indicating that non-EVM blockchains are on average almost four times faster than their EVM-capable counterparts.
Solana’s peak performance was particularly notable, reaching 1,504 TPS on April 6, 2023, due to an increase in meme coin transactions. This performance is 46 times higher than that of Ethereum’s TPS and more than five times higher than that of Polygon, the fastest of the Ethereum scaling solutions.
However, despite these impressive figures, Solana’s peak TPS is still only 1.6% of its theoretical maximum of 65,000 TPS.
Solana is an open source blockchain platform that prioritizes minimizing latency and maximizing throughput, even at the expense of some verifiability. It achieves this through a unique set of features, including its new timestamping mechanism called Proof of History (PoH), Turbine block propagation protocol, and parallel transaction processing.
Second The founder of Solana, Anatoly Yakovenko, Solana’s primary design goal was not to achieve maximum productivity. Solana instead aims to synchronize states around the world as quickly as physical laws allow.
About the author
Dan Burgin
Dan is a news editor and writer with 12 years of experience in finance and emerging technologies, with a strong focus on cryptocurrencies. Covering a broad spectrum of topics, from fintech startups to artificial intelligence, he provides an in-depth overview of the current state of the cryptocurrency market, along with insights into its potential for future disruption.