Solana is recognized as the fastest blockchain in the world

According to a recent report by CoinGecko, Solana SOL $258.35 Solana 10.77% Market capitalization $122.64 billion VOL. 24 hours $2.14 billion is currently considered the fastest blockchain in the world. In one day, the network processed more than 95 million transactions.

According to analysts, Solana boasts the highest average daily transactions per second (TPS) among blockchains — 1,053 TPS. This is followed by the Sui network with 854 TPS, then BSC — 378 TPS, Polygon — 190 TPS, TON — 175 TPS, Tron — 159 TPS, Near — 117 TPS, and Avalanche — 89 TPS.

For comparison, Ethereum ETH $3,339.24 Bridged Ether (StarkGate) 8.63% Market capitalization $0.28 billion VOL. 24 hours $3.22 billion processes 22.8 TPS, and Bitcoin BTC $98,631.44 Bitcoin 4.23% Market capitalization $1.95 trillion VOL. 24 hours $6.72 billion - 10.7 TPS, which indicates that blockchains that do not use EVM(a decentralized supercomputer that uses its resources to host and run programs on the blockchain — ed. Solana’s peak performance was particularly notable, reaching 1,504 TPS on April 6, 2023, thanks to a surge in meme coin transactions. This figure is 46 times higher than the TPS of Ethereum and more than five times higher than Polygon, which is the fastest among Ethereum scaling solutions.

However, despite the impressive numbers, Solana’s peak TPS is still only 1.6% of its theoretical maximum of 65,000 TPS.

According to Solana founder Anatoliy Yakovenko, the main goal of developing the blockchain was not to achieve maximum throughput — instead, Solana aims to synchronize crypto transaction power around the world as fast as physical laws allow.