Solana leads as the fastest among large-scale blockchains — CoinGecko

Research
from
CoinGecko
says
that
Solana
is
the
fastest
among
large-scale
blockchains,
with
its
actual
daily
average
transactions
per
second
(TPS)
reaching
a
record
high
of
1,504
on
April
6,
2023
as
the
meme
coin
mania
took
off.
Such
a
statistic
makes
Solana
roughly
46
times
faster
than
Ethereum,
and
5
times
faster
than
Polygon.

To
determine
the
fastest
blockchains,
CoinGecko’s

study
analyzed
the
processing
speed
of
the
top
30
blockchains
based
on
their
total
value
locked
(TVL)
ranking
on
DefiLlama
as
of
May
15,
2024.
Processing
speed
was
measured
using
the
actual
or
realized
transactions
per
second
(TPS)
metric,
calculated
as
a
daily
average
to
ensure
a
standardized
comparison
across
as
many
blockchains
as
possible.

CoinGecko
claims
the
highest
real
TPS
values
reported
in
the
study
may
differ
from
other
calculations
because
these
use
daily
averages.
The
TPS
data
was
sourced
from
publicly
available
information
provided
by
the
respective
blockchain
explorers
and
Dune
Analytics.
However,
some
blockchains,
including
Hyperliquid,
PulseChain,
Kava,
Cardano,
and
Rootstock,
were
excluded
from
the
study
due
to
a
lack
of
sufficient
data.

Findings

Despite
ranking
as
the
fastest
blockchain,
Solana
has
still
only
achieved
1.6%
of
its
theoretical
maximum
speed
of
65,000
TPS,
CoinGecko
claims.
The
surging
number
of
transactions
resulted
in
network
congestion,
and
it
remains
to
be
seen
how
quickly
Solana
can
record
higher
real
TPS
after
its
upcoming
upgrades.

The
second-fastest
blockchain
is
another
non-EVM,
Sui,
which
recorded
its
highest
real
TPS
of
854
in
July
2023
as
onchain
game
Sui
8192
gained
popularity.
Other
fast
blockchains
among
the
non-EVMs
include
TON
at
175
TPS
and
Near
Protocol
at
118
TPS.
Altogether,
the
8
non-EVM
large
blockchains
have
an
average
peak
TPS
of
284,
making
them
3.9
times
faster
than
the
17
largest
EVM
and
EVM-compatible
blockchains,
which
realized
an
average
of
just
74
TPS.

Among
the
EVM
blockchains,
BNB
Smart
Chain
(BSC)
achieved
378
in
real
TPS
on
December
7,
2023,
amid
the

inscriptions-driven
surge
in
onchain
activity.
This
makes
BSC
the
fastest
blockchain
among
EVMs,
despite
only
ranking
third
overall
and
reaching
less
than
half
of
Sui’s
realized
processing
speed.

Similarly,
the
inscriptions
craze
allowed
Polygon
to
record
190
in
real
TPS
on
November
16,
2023,
making
it
the
fastest
among
the
largest
Ethereum
scaling
solutions
and
8.4
times
faster
than
Ethereum
itself.

Ethereum
and
its
ten
largest
scaling
solutions
registered
a
total
real
TPS
of
500,
placing
their
combined
processing
speed
ahead
of
BSC
but
still
slower
than
Solana
and
Sui.

Almost
all
of
the
25
blockchains
experienced
their
highest
real
TPS
over
the
last
one
year,
pointing
to
onchain
activity
increasing
and
reaching
higher
levels
in
recent
months,
led
by
inscriptions
and
meme
coin
speculation.