Solana
Solana is the fastest among large-scale blockchains – CoinGecko
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CoinGecko research indicates that Solana is the fastest among large-scale blockchains, with its average daily transactions per second (TPS) reaching an all-time high of 1,504 on April 6, 2023, as coin mania took off . Such a statistic makes Solana approximately 46 times faster than Ethereum and 5 times faster than Polygon.
To determine the fastest blockchains, CoinGecko 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 metric of actual or completed transactions per second (TPS), calculated as a daily average. to ensure a standardized comparison across as many blockchains as possible.
CoinGecko claims that the highest actual TPS values reported in the study may differ from other calculations because these use daily averages. TPS data comes 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 lack of sufficient data.
Results
Despite being ranked as the fastest blockchain, Solana has still only reached 1.6% of its theoretical maximum speed of 65,000 TPS, claims CoinGecko. The increased number of transactions has led to network congestion, and it remains to be seen how quickly Solana will be able to see 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 the Sui 8192 chain game gained popularity. Other fast blockchains among non-EVMs include TON at 175 TPS and Near Protocol at 118 TPS. In total, the 8 largest non-EVM blockchains have an average maximum TPS of 284, making them 3.9 times faster than the 17 largest EVM and EVM-enabled blockchains, which achieved an average of only 74 TPS.
Among EVM blockchains, BNB Smart Chain (BSC) reached 378 in real TPS on December 7, 2023, in the middle of increase in registrations in the onchain activity. This makes BSC the fastest blockchain among EVMs, although it only ranks third overall and achieves less than half the processing speed achieved by Sui.
Likewise, the registration craze helped Polygon record 190 in real TPS on November 16, 2023, making it the fastest among the largest Ethereum scaling solutions and 8.4 times faster faster than Ethereum itself.
Ethereum and its ten largest scaling solutions recorded a total real TPS of 500, putting their combined processing speed ahead of BSC but still slower than Solana and Sui.
Almost all 25 blockchains experienced their highest real TPS over the past year, indicating that on-chain activity has been increasing and reaching higher levels over the past few months, led by listings and speculation on coins.
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