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 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 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.
Which crypto is called the future of high speed blockchain? ›
Solana (SOL)
According to a recent survey from CoinGecko, Solana is now the world's fastest blockchain in terms of transactions per second (TPS).
How fast is the Dogecoin blockchain? ›
Block Times
Dogecoin takes around 1 minute to confirm and add a block to the blockchain. Meanwhile, Bitcoin takes an average of 10 minutes to confirm a block.
Which is the fastest blockchain measured in TPS? ›
Solana takes the top spot with an impressive 1,054 TPS, followed closely by Sui with 854 TPS. These speeds are crucial for blockchain adoption and scalability.
What is the number 1 blockchain? ›
Top Blockchains
| # | Name | Dapps |
|---|
| 1 | BNB Chain BNB | 5,326 +8 |
| 2 | Ethereum ETH | 4,587 +8 |
| 3 | Polygon MATIC | 2,101 +13 |
| 4 | TRON TRX | 1,381 +1 |
21 more rowsThe XRP ledger can handle up to 1,500 transactions per second, making it significantly faster than Bitcoin, which averages between four and five transactions per second, and Ethereum, which manages about 13 transactions per second.
What crypto is next to boom? ›
PlayDoge is poised to be the next big cryptocurrency to explode during the next twelve months. This innovative project combines the popular Doge meme with a play-to-earn (P2E) mobile game, where users care for a digital pet similar to a Tamagotchi.
Which cryptocurrency will reach $10,000? ›
Prediction: Ethereum Will Reach $10,000 in 2030 | Nasdaq.
Which crypto will boom in long term? ›
Sei, a cosmos-based layer-1 blockchain, is another good crypto to invest in for long-term gains. The project seeks to elevate the world of crypto trading through an enhanced trading DEX.
The prediction of a $100 DOGE relies on "hyperbitcoinization," a scenario in which Bitcoin surpasses traditional money. While that is unlikely to happen by 2028, it could happen well into the future. With this in mind, a $100 DOGE is a possibility, though perhaps not on the timeline indicated by the analyst.
Why is DOGE better than Bitcoin? ›
The Dogecoin confirmation times lead to processing around 33 transactions per second, which is much faster than Bitcoin's average of 7 TPS. Dogecoin's price is also relatively much less volatile than Bitcoin's price. Bitcoin is known to swing thousands of dollars in value per day.
Can Dogecoin reach $20? ›
Dogecoin might reach $10 per coin In a decade, but it's almost impossible to hit $100 per coin. But can Dogecoin reach $20? That's likely too far out of reach. For Dogecoin to be worth $20, its market cap needs to grow to $2.7 trillion.
Which blockchain is 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.
How fast is Cardano? ›
Cardano can process more than 250 transactions per second (TPS), compared with around 4.6 TPS for bitcoin and between 15 and 45 TPS for Ethereum 1.0. This makes the Cardano network very scalable.
What is the fastest level 1 blockchain? ›
Tectum is the fastest layer 1 blockchain in the world, with a proof-of-utility consensus protocol and zero-knowledge proof system. Tectum Wallet - a comprehensive blockchain wallet that is simple to use and enables people to manage their digital assets in one place.
Which crypto network is the fastest? ›
Algorand (Algo)
The platform can process up to 1000 transactions per second (TPS), which is significantly higher than other popular Blockchain platforms like Ethereum and Bitcoin.
What is the best blockchain for crypto? ›
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).
