Crypto: Here is the fastest blockchain in the world!

In the dynamic world of crypto, transaction speed is a key factor influencing the adoption and efficiency of blockchains. Recently, an analysis shed light on the fastest blockchains around, revealing impressive performance and significant technological advancements.

Solana: The fastest blockchain in the crypto world!

Solana stands out as the fastest blockchain, with a record 91 million transactions processed in a single day, April 6, 2024. This feat represents an average rate of 1500 crypto transactions per second (TPS), which is 46 times faster than Ethereum and over 5 times faster than Polygon. Despite these impressive numbers, Solana only tapped 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 as of 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 4x faster than EVM-enabled ones.

Are blockchain EVMs less efficient?

Among 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. Which 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 more efficient architecture! Or even less congestion due to a lower number of transactions on the chain. Nonetheless, it is important to note that almost all of the actual GST records were set in the last 12 months. This indicates a trend of continuous improvement in the performance of blockchains.

While Solana and Sui are leading the charge as the fastest blockchains, it remains to be seen how future improvements and planned updates will affect their ability to handle even higher crypto transaction volume without compromising network stability. With blockchain technology constantly evolving, the race for speed is far from over.

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