Solana has established itself as the fastest of the major blockchains and has processed 91 million transactions per day.
According to CoinGecko's latest update, during the hype surrounding memcoins 4/6 #Solana reached a record 1-day average of 1,504 transactions per second (TPS).
This will make the blockchain 46 times faster than #MemeWatch2024 and more than 5 times faster than Polygon, which boasts the highest TPS among Ethereum scaling solutions.
Despite its status as the fastest blockchain, Solana only achieved 65,000% of its theoretical maximum speed of 1.6 tps.
The surge in transactions caused network congestion, and it has been questioned how quickly Solana will be able to reach higher real TPS once the upcoming update is implemented.
The 2nd fastest blockchain mentioned in the report is Sui, another platform that does not utilize Ethereum virtual machines.
Sui recorded the highest real TPS of 854 in the 2023/7 season, due to the popularity of Sui8192 games on the network.
Other notable #blockchains without EVMs include the TON 175TPS protocol and the Near 118TPS protocol.
At the lower end of the spectrum, Aptos registered 49TPS, Starknet registered 12TPS, #MemeWatch2024 registered 11TPS and Thorchain registered 2TPS.
When we compared a blockchain without EVM to EVM-compatible blockchains, the former outperformed the latter with an average peak TPS of 284, while the top 17 EVM-based blockchains averaged only 74 TPS.
The #Binance smart chain (BSC) has established itself as the fastest among evm blockchains, and due to increased activity on the blockchain, it will reach an actual 378 TPS in 2023-12-7.
Polygon, Ethereum's main scalable solution, will reach 190 bps in 2023-11-16 and will be 8.4 times faster than Ethereum itself.
The report shows that Ethereum scaling solutions and Tier 2 solutions have yet to surpass other Tier 1 blockchains in terms of processing speed.
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