Solana Tops CoinGecko’s TPS Rankings As The Fastest Blockchain: Report

Key Points:

• Solana leads in daily transaction speed among blockchains.
• Non-EVM blockchains are four times faster than EVM ones.

Solana tops CoinGecko, boasting highest daily transactions per second (TPS). It outperforms Ethereum and Polygon, yet uses only 1.6% of its maximum speed.

A recent report by CoinGecko has revealed that Solana tops the blockchain charts in terms of daily average transactions per second (TPS), outperforming other major blockchains.

Solana Tops CoinGecko in Transaction Speed

The study showcased Solana’s impressive speed, which is significantly higher than other blockchains, and highlighted the potential of non-Ethereum Virtual Machine (EVM) blockchains.

Solana has proven its mettle by achieving a record high of 1,504 TPS on April 6 this year, amid the frenzy of meme coins. The figure makes Solana 46 times faster than Ethereum and over five times faster than Polygon, the fastest among Ethereum scaling solutions.

However, Solana is yet to fully realize its potential, having achieved only 1.6% of its theoretical maximum speed of 65,000 TPS. With the upcoming upgrades, it would be interesting to see how quickly Solana can increase its real TPS.

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Comparison of Solana’s Speed with Ethereum and Other Blockchains

Another non-EVM blockchain, Sui, came second in the report, recording its highest TPS of 854 in July 2023. Other non-EVM blockchains such as TON and Near Protocol also showed impressive speeds.

On average, non-EVM blockchains are almost four times faster than EVM blockchains, with an average peak TPS of 284 compared to 74 for EVM blockchains.

The report also noted that Ethereum and its ten largest scaling solutions have a combined real TPS of 500, which is still slower than Solana and Sui. The data highlights a need for Ethereum scaling solutions to increase their processing speed to match up with other layer 1 blockchains.