Solana has proven to be the fastest among large-scale blockchains, processing a staggering 91 million transactions per day.
according to Recent updates by CoinGeckoOn April 6th, Solana achieved a daily average of 1,504 transactions per second (TPS) during the meme coin craze.
This makes the blockchain an astonishing 46 times faster. Ethereum Over 5x faster than Polygon, which has the highest TPS of any Ethereum scaling solution.
Solana achieves 1.6% of maximum speed
Despite its status as the fastest blockchain, Solana only achieves 1.6% of its theoretical maximum speed of 65,000 TPS.
The rapid increase in the number of transactions has caused network congestion, raising questions about how quickly Solana will be able to achieve net TPS after implementing future upgrades.
The second fastest blockchain in the report is Sui, another non-EVM (Ethereum Virtual Machine) platform.
Driven by the popularity of the on-chain game “Sui 8192”, Sui recorded its highest real TPS of 854 in July 2023.
Other notable blockchains besides EVM include TON with 175 TPS and Near Protocol with 118 TPS.
At the lower end of the spectrum, Aptos recorded 49 TPS, Starknet 12 TPS, Bitcoin 11 TPS, and Thorchain 2 TPS.
Comparing non-EVM blockchains to EVM and EVM-compatible blockchains, the former outperformed the latter with an average peak TPS of 284, while the 17 largest EVM-based blockchains averaged only 74 TPS.
Binance Smart Chain (BSC) stands out as the fastest among EVM blockchains, reaching a net TPS of 378 on December 7, 2023 due to increased on-chain activity.
Polygon, the leading Ethereum scaling solution, achieved 190 TPS on November 16, 2023, making it 8.4x faster than Ethereum itself.
Ethereum’s Layer 2 solutions have not yet surpassed Layer 1 blockchains
This report shows that Ethereum's scaling and layer 2 solutions have yet to outperform other layer 1 blockchains in terms of actual processing speed.
This may be due to the low number of on-chain transactions in Ethereum scaling solutions, which slows down the realization TPS of these blockchains.
In total, Ethereum and its 10 largest scaling solutions achieved a total of 500 real TPS, outperforming BSC but still falling behind Solana and Sui.
Other scaling solutions that have surpassed Ethereum in terms of TPS include Arbitrum (59 TPS), Linea (56 TPS), Base (37 TPS), and Mantle (25 TPS).
Over the past year, activity levels have reached new heights, with 24 of the 25 blockchains analyzed having the highest actual TPS.
This surge can be attributed to increased inscription and meme coin speculation, which has driven an increase in on-chain activity.
As reported, the virtual currency market Attended the launch Since early April, more than 1 million new tokens have been added.
Ethereum and Solana in particular have been at the forefront of this token frenzy, with Ethereum hosting over 370,000 new tokens and Solana boasting a staggering 640,000 new tokens, mostly made up of meme coins. I am.
