Research from CoinGecko says Solana is the fastest among large-scale blockchains, with average actual daily transactions per second (TPS) hitting a record high of 1,504 on April 6, 2023 as the rush meme coin explodes. This statistic makes Solana about 46 times faster than Ethereum and 5 times faster than Polygon.
To determine the fastest blockchains, CoinGecko research analyzed the processing speeds of the top 30 blockchains based on their total key value (TVL) ranking on DefiLlama as of May 15, 2024. Processing is measured by actual transactions per second (TPS), which is averaged daily to ensure standardized comparisons across as many blockchains as possible.
CoinGecko states that the highest actual TPS values reported in the study may differ from other calculations because they use daily averages. TPS data is obtained from public information provided by the respective blockchain browsers and Dune Analytics. However, several blockchains, including Hyperliquid, PulseChain, Kava, Cardano and Rootstock, were excluded from the study due to lack of sufficient data.
Solana leads in TPS
Despite its ranking as the fastest blockchain, CoinGecko claims that Solana has only achieved 1.6% of its theoretical maximum speed of 65,000 TPS. The spike in transactions has led to network congestion, and it remains to be seen how quickly Solana can record higher real TPS following the upcoming upgrades.
The second fastest blockchain is another non-EVM blockchain, Sui, which recorded the highest actual TPS of 854 in July 2023 when games built on the Sui 8192 became popular. Other non-EVM blockchains that are also fast include TON with 175 TPS and Near Protocol with 118 TPS. In total, the eight major non-EVM blockchains have an average peak TPS of 284, 3.9 times faster than the 17 largest EVM and EVM-compatible blockchains, which average just 74 TPS.
Source: CoinGecko
Among EVM blockchains, BNB Smart Chain (BSC) achieved 378 real TPS on December 7, 2023, amid on-chain fever due to stencils. This makes BSC the fastest blockchain among EVMs, despite only ranking third overall and achieving less than half the actual processing speed of Sui.
Similarly, the sharding craze allowed Polygon to record 190 actual TPS on November 16, 2023, making it the fastest among the largest Ethereum layer 2 scaling solutions and 8.4 times faster than Ethereum .
Ethereum and its 10 largest scaling solutions already have a total effective TPS of 500, placing their combined processing speed higher than BSC but still slower than Solana and Sui. Besides Polygon, 4 other scaling solutions have been proven to be faster than Ethereum (23 TPS) including Arbitrum (59 TPS), Linea (56 TPS), Base (37 TPS), and Mantle (25 TPS).
24 out of 25 blockchains have achieved the highest real TPS in the past year, from Tron on June 12, 2023 to zkLink Nova most recently on May 13, 2024. Specifically, 12 blockchains have recorded real TPS their highest in 2023 and 12 other blockchains in 2024. The only exception is Thorchain, which reached its highest real TPS in May 2022.
Source: https://tapchibitcoin.io/tps-cua-solana-nhanh-hon-ethereum-46-lan-va-hon-polygon-5-lan.html
