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In the dynamic world of cryptocurrencies, transaction speed is a key factor influencing blockchain adoption and efficiency. Recently, analysis revealed the fastest blockchain to date, revealing impressive performance and significant technological advances.
Solana: the fastest blockchain in the crypto world!
Solana stands out as the fastest blockchain, achieving a record of 91 million transactions processed in a single day on April 6, 2024. This feat represents an average speed of 1,500 crypto transactions per second (TPS), which is 46 times faster than Solana's. More than 5 times faster than him on Ethereum and Polygon. Despite these impressive numbers, Solana is only utilizing 1.6% of his theoretical maximum speed of 65,000 TPS.
In second place we find another non-EVM blockchain, Sui, which reached 854 crypto TPS in July 2023. Other fast non-EVM blockchains include TON at 175 TPS and Near Protocol at 118 TPS. On average, non-EVM blockchains are nearly four times faster than EVM-compatible blockchains.
Is EVM blockchain less efficient?
Among EVM blockchains, BNB Smart Chain (BSC) leads the race with 378 TPS, followed by Polygon with 190 TPS. However, the combination of Ethereum and its top 10 scaling solutions still reaches a total of 500 crypto TPS. This puts it above BSC, but still below Solana and Sui.
This data shows that non-EVM blockchains currently dominate in terms of processing speed of crypto transactions. This may be due to a more efficient architecture. Alternatively, the number of transactions on the chain is reduced, which reduces congestion. Nevertheless, it's important to note that almost all of his actual TPS records were set in the last 12 months. This shows a trend of continuous improvement in blockchain performance.
While Solana and Sui lead the way as the fastest blockchains, it remains to be seen how future improvements and planned updates will impact the network's ability to process even larger volumes of cryptocurrency transactions without compromising its stability. I don't know if I'll give it yet. As blockchain technology continues to evolve, the race for speed is far from over.
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Disclaimer
The views, ideas and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Please do your own research before making any investment decisions.
