Smart contract platform Solana (SOL) has risen to the top of CoinGecko’s list of fastest blockchains.
CoinGecko said in a new publication that Solana is the fastest large blockchain on the market, 46 times faster than rival Ethereum (ETH), the second-largest digital asset by market capitalization.
However, CoinGecko says Solana is only achieving 1.6% of its theoretical maximum throughput.
“Solana has proven to be the fastest of the large blockchains, with actual daily average transactions per second (TPS) hitting an all-time high of 1,504 on April 6th of this year amid the memecoin craze.
This makes Solana 46 times faster than Ethereum and more than 5 times faster than Polygon, which has the highest TPS among Ethereum scaling solutions.
Despite being ranked as the fastest blockchain, Solana still only achieved 1.6% of its theoretical maximum speed of 65,000 TPS.”
According to statistics from CoinGecko, Solana’s peak throughput was 1,053.7 TPS, while Ethereum’s was only 22.70 TPS. The data also shows that Ethereum and the top 10 layer 2 scaling solutions combined achieve just 500 TPS.
“Ethereum and the top 10 scaling solutions register a total real TPS of 500, which puts the combined processing speed ahead of BSC (Binance Smart Chain) but still slower than Solana and Sui.”
Other fast blockchains on the list include Sui Network (SUI) Binance Smart Chain (BSC), Polygon (MATIC), Toncoin (TON), Tron (TRON), Near Protocol (NEAR), and Avalanche (AVAX).
At the time of writing, Solana is trading at $172, up 7.63% in the last 24 hours.
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