Mon 20 May 2024 ▪3min of reading ▪ byEddy S.
In the dynamic world of crypto, transaction speed is a key factor that influences the adoption and efficiency of blockchains. Recently, an analysis highlighted the fastest blockchains at the moment, revealing impressive performances and significant technological advancements.
Solana: The fastest blockchain in the crypto world!
Solana stands out as the fastest blockchain, with a record number of 91 million transactions processed in a single day, on April 6, 2024. This feat represents an average rate of 1500 crypto transactions per second (TPS), which is 46 times faster than Ethereum and more than 5 times faster than Polygon. Despite these impressive numbers, Solana has only exploited 1.6% of its theoretical maximum speed of 65,000 TPS.
In second place, we find Sui, another non-EVM blockchain, which reached 854 crypto TPS in July 2023. Other fast non-EVM blockchains include TON with 175 TPS and Near Protocol with 118 TPS. On average, non-EVM blockchains are almost 4 times faster than those compatible with EVM.
Are EVM blockchains less efficient?
Among the EVM blockchains, BNB Smart Chain (BSC) leads the race with 378 TPS, followed by Polygon with 190 TPS. However, even combined, Ethereum and its top ten scaling solutions reach a total of 500 crypto TPS. This places them ahead of BSC but still behind Solana and Sui.
This data shows that non-EVM blockchains currently dominate in terms of crypto transaction processing speed. This could be attributed to a more efficient architecture! Or to less congestion due to a lower number of transactions on the chain. Nevertheless, it is important to note that almost all real TPS records were set in the last 12 months. This indicates a trend towards continuous improvement in blockchain performance.
While Solana and Sui lead the charge as the fastest blockchains, it remains to be seen how future improvements and planned updates will affect their ability to handle an even higher volume of crypto transactions without compromising network stability. With the constant evolution of blockchain technology, the race for speed is far from over.
Eddy S.
Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
FAQs
Solana Emerges As World's Fastest Blockchain, Surpassing Ethereum and Bitcoin. According to U. Today, Solana has been identified as the fastest blockchain globally, according to a recent report by CoinGecko. The network processed over 95 million transactions in a single day.
What is the fastest blockchain in crypto? ›
Solana Emerges As World's Fastest Blockchain, Surpassing Ethereum and Bitcoin. According to U. Today, Solana has been identified as the fastest blockchain globally, according to a recent report by CoinGecko. The network processed over 95 million transactions in a single day.
What crypto is the fastest? ›
Solana stands out as the fastest blockchain, with a record number of 91 million transactions processed in a single day, on April 6, 2024. This feat represents an average rate of 1500 crypto transactions per second (TPS), which is 46 times faster than Ethereum and more than 5 times faster than Polygon.
What is the fastest coin network? ›
The Tron network is capable of processing over 2,000 transactions per second, which is significantly faster than many other blockchain networks.
What is the fastest blockchain in 2024? ›
- March 13, 2024) - Tectum, the decentralized network developed by Crispmind, has made history by becoming the fastest blockchain in the world. This is a significant stride, as the company breaks its own record of 1.2 million transactions per second and extends its streak.
What is the number 1 blockchain? ›
Top Blockchains
| # | Name | Dapps |
|---|
| 1 | BNB Chain BNB | 5,331 +13 |
| 2 | Ethereum ETH | 4,591 +11 |
| 3 | Polygon MATIC | 2,107 +19 |
| 4 | TRON TRX | 1,381 +1 |
21 more rowsKey Takeaways. Ripple Labs is a company behind the cryptocurrency XRP and the XRP Ledger network. Bitcoin is considered to be more decentralized than XRP, but XRP is cheaper, faster, more scalable, and environmentally friendlier.
Which coin is faster than Bitcoin? ›
NEO (NEO) NEO, originally launched as Antshares in 2014 and rebranded in 2017, is a blockchain platform for developing decentralised applications (dApps) and digital assets. NEO's transaction speed is around 15 transactions per second (TPS), faster than Bitcoin but slower than platforms like EOS and Ripple.
What's faster than Ethereum? ›
Solana offers a significantly higher transaction speed (2,600 transactions per second) compared to Ethereum (15 transactions per second), enhancing the user experience with faster and more efficient transactions.
Which is the fastest growing crypto? ›
Based on its recent price pattern and ecosystem developments, AR is one of the fastest-growing cryptocurrencies. Arweave launched in 2018 and powers what it calls the “permaweb” — a permanent, decentralized and low-cost storage for data.
Top Blockchains' Highest TPS
| Rank | Blockchain | Highest TPS |
|---|
| 1 | Solana | 1,053.65 |
| 2 | Sui | 854.05 |
| 3 | BSC | 378.27 |
| 4 | Polygon | 190.39 |
21 more rowsMay 17, 2024
Transactions on Monero (XMR) are relatively fast. The average block time (time required to produce a new block) is two minutes. Monero reduces the likelihood of congestion and delayed transactions with its variable block size, which can accommodate more transactions if needed.
What are the fastest blockchains? ›
Tectum is the fastest layer-1 blockchain, with a speed of 1.3 million transactions per second. It uses proof of utility consensus to process transactions through trusted nodes.
Which crypto will boom in 2024? ›
Top 10 Cryptos in 2024
| Coin | Market Capitalization | Current Price |
|---|
| Binance Coin (BNB) | $85 billion | $580 |
| Solana (SOL) | $72 billion | $162 |
| Ripple (XRP) | $28 billion | $0.51 |
| Dogecoin (DOGE) | $22 billion | $0.15 |
6 more rowsThe most popular blockchains platforms are:
- Ethereum.
- Hyperledger Fabric.
- IBM.
- OpenChain.
- Stellar.
Here are nine of the top blockchain platforms to consider.
- Ethereum. Introduced in 2013, Ethereum is one of the oldest and most established blockchain platforms. ...
- IBM Blockchain. ...
- Hyperledger Fabric. ...
- Hyperledger Sawtooth. ...
- R3 Corda. ...
- Tezos. ...
- EOSIO. ...
- Stellar.
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What is the fastest blockchain consensus? ›
One notable contender is Solana, a high-performance blockchain known for its impressive transaction speeds and low fees. Solana utilizes a unique consensus mechanism called Proof of History (PoH) in combination with Proof of Stake (PoS), allowing it to achieve a throughput of over 65,000 transactions per second (TPS).
