The analysis undertaken by CoinGecko claims that Solana is the largest and fastest Solana is quickest blockchain ever built. CoinGecko’s study claims that Solana is the fastest among the others. On April 6, 2023, when the meme currency craze was at its peak, the actual daily mean transactions per second (TPS) reached a record high of 1,504. This means that Solana is about 46 times more efficient than Ethereum and is capable of five times more transactions than Polygon.
CoinGecko report, which included a study of the top 30 blockchains by total value locked (TVL) on May 15, 2024, as listed on DefiLlama, their processing speed was the mainstay. Processing speed means using daily averages of genuine live transactions per second (TPS) to resemble all blockchains in the survey.
The study’s highest reported absolute TPS values might not be the correct result according to other calculations, as CoinGecko utilized daily averages. Solana is the most rapid blockchain: data tweet-Dune analytics as well as the info from the individual blockchain explorers that adopted decentralized access to these TPS datasets. Unfortunately, Hyperliquid, PulseChain, Kava, Cardano, and Rootstock Solana are quickest blockchain were the four that could not be part of the study because they had insufficient information.
Findings
Blockchain CoinGecko Solana
To quote CoinGecko, Solana is the fastest among blockchains now, but it has just pushed the envelope of blockchain activities and gotten only a meager 1.6% of its theoretical maximum of 65,000 transactions per second (TPS). When the transaction size exceeded the level of the network that caused network cocongestionSolana became the first ever to hold the belt of the fastest blockchain in the operations in the future with its improvements.
Another non-EVM blockchain, Sui, is the second fastest, and in July 2023, when a game called Sui 8192 was the high point of Sui, the chain had its maximum actual TPS at 854. However, there are other non-EVM blockchains as well that are also fast, for example, Near Protocol with 118 TPS and TON with 175 TPS. On average, non-EVM Solana is quickest blockchain which were eight significant ones, floated on 284 TPS.
On the other hand, the volume of the on-chain transactions resulted in the distribution of inscriptions and BNB Smart Chain (BSC) went to over 378 transactions per second on December 7, 2023. Thus, it is one of the EVM blockchains. Although, it is the second from the top and the EVMs are the only ones that can have a performance like at Sui’s level – half of the realized process BSC is fastest among EVMs because of that.
In total, Ethereum and its ten most powerful scaling solutions have an actual TPS of 500, which is not as fast as BSC but it is slower than Sui, and Solana is the fastest blockchain. Aside from that, nearly all 25 of the fastest Solana blockchains reached their highest real TPS prior to the year, as seen by the strengthening on-chain activity and the surge in inscriptions and meme coin speculation.
FAQs
How does Solana compare to Ethereum and Polygon in terms of speed?
Solana is 46 times more efficient than Ethereum and can process five times more transactions than Polygon.
What is the maximum TPS that Solana can achieve?
Solana can theoretically handle up to 65,000 TPS, but it has only reached about 1.6% of that capacity so far.
How does Solana's TPS compare to other blockchains like Sui and BSC?
Solana is the fastest overall, with an average of 284 TPS, surpassing other blockchains like Sui (854 TPS) and BNB Smart Chain (378 TPS).
Why were some blockchains not included in the CoinGecko study?
Blockchains like Hyperliquid, PulseChain, Kava, Cardano, and Rootstock were excluded due to insufficient data on their TPS performance.
