The race to achieve the fastest blockchain transaction processing speeds is heating up, and Solana (SOL) is in the spotlight after a new report from crypto data aggregator CoinGecko reveals some surprising findings.
This study analyzes the actual transactions per second (TPS) performance of various large-scale systems. blockchain networkboth Ethereum-based and non-Ethereum (ETH) Virtual Machine (EVM) protocols.
Solana emerges as the undisputed speed champion
according to As a result, Solana proved to be the fastest among large-scale blockchains, with actual daily average transactions per second (TPS) reaching an all-time high of 1,504 on April 6, 2022. value has been reached. Notably, this number makes Solana 46 times faster than him on Ethereum. The second largest cryptocurrency by market capitalization.
Additionally, Solana’s TPS is over 5x faster than Polygonm (MATIC), which currently holds the highest TPS among Ethereum scaling solutions.
According to CoinGecko, this shows CoinGecko's great processing power. Non-EVM blockchain In particular, the ability to handle large inflows of transactions, especially during times of increased market activity within the Solana network, such as the recent Memecoin mania.
However, it is important to note that despite Solana's performance, the blockchain only achieved 1.6% of its “theoretical maximum speed” of 65,000 TPS. This suggests that there is still significant room for improvement and room for further development of the network. upgrade It will be interesting to see how quickly we can record higher actual TPS.
Ethereum scaling solutions lag behind non-EVM blockchains
The second fastest blockchain in this study was Sui (SUI), another non-EVM protocol, which recorded the highest real TPS of 854 in July 2023 as on-chain gaming Sui gained popularity 8192. Other fast non-EVM blockchains include The Open Network (TON) at 175 TPS and Near Protocol (NEAR) at 118 TPS.
In contrast, non-EVM blockchains that recorded relatively low actual processing speeds include Aptos (49 TPS), Starknet (12 TPS), Bitcoin (11 TPS), and Sawchain (2 TPS).
In total, the 8 non-EVM large blockchains have an average peak TPS of 284, which is 3.9 times faster than the average 74 TPS of the 17 largest EVM and EVM-compatible blockchains.
The EVM-compatible blockchain that achieved the fastest real TPS is BNB Smart Chain (BSC); epitaph fashion. This performance makes BSC the fastest Ethereum-based blockchain, but it still lags behind top non-EVM protocols.
Similarly, the surge from Inscription allowed Polygon to record 190 TPS on November 16, 2023, making it the fastest of the largest Ethereum scaling solutions and 8.4 times faster than Ethereum itself. However, major non-EVM blockchains still outpace Polygon's incredible speed.
At the time of writing, SOL is trading at $168, up nearly 7% in the past 24 hours and a whopping 720% year-to-date.
Featured image from DALL-E, chart from TradingView.com
