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
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 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 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 fastest blockchain rank? ›
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
Top Blockchains
| # | Name | Dapps |
|---|
| 1 | BNB Chain BNB | 5,323 +5 |
| 2 | Ethereum ETH | 4,578 0 |
| 3 | Polygon MATIC | 2,094 +5 |
| 4 | TRON TRX | 1,380 0 |
21 more rowsCube. The World's Fastest Crypto Exchange.
Which coin is faster than Bitcoin? ›
When it comes to transaction speed, Litecoin is generally considered to be faster than Bitcoin due to its shorter block times and higher throughput. The average block time for Litecoin is 2.5 minutes whereas Bitcoin's block time averages 10 minutes.
What is the best crypto to make money fast? ›
Best Cryptos For Day Trading
- Bitcoin.
- Ethereum.
- Binance Coin.
- Ripple (XRP)
- Solana.
Let's explore the top cryptocurrencies for mining this year:
- Bitcoin (BTC) Bitcoin is undoubtedly the best crypto to mine. ...
- Ethereum (ETH) ...
- Vertcoin (VTC) ...
- Cardano (ADA) ...
- Litecoin (LTC) ...
- Ravencoin (RVN) ...
- Monero (XMR) ...
- Grin (GRIN)
Top 10 Cryptos in 2024
| Coin | Market Capitalization | Current Price |
|---|
| Ethereum (ETH) | $359 billion | $2995 |
| Binance Coin (BNB) | $85 billion | $580 |
| Solana (SOL) | $72 billion | $162 |
| Ripple (XRP) | $28 billion | $0.51 |
6 more rowsTwo of the most prominent blockchain platforms are Ethereum and Solana, each with unique features and capabilities. Ethereum (ETH): Ethereum, launched in 2015, is both a cryptocurrency and a platform for building decentralized applications.
What is the fastest growing blockchain network? ›
With 2,500 to 3,000 developers working on innovative solutions in 2023, Solana was one of the fastest-growing blockchains in the previous year. The platform showcased its diverse and rich ecosystem through events such as the Solana Season Hackathon, the Breakpoint Conference, and the Solana Solstice Festival.
What is the fastest most secure blockchain? ›
Overall, Solana is one of the fastest and most efficient blockchain networks available today, and it is well-positioned to play a key role in the continued growth and development of the decentralized technology space.
What is the fastest coin network? ›
The report concluded that Solana leads the way, followed by Sui and the Binance Smart Chain. Interestingly, Ethereum and Bitcoin are not even in the top 15. Despite its several outages in the past few years, the Solana blockchain has emerged as the fastest on CoinGecko's list.
Which blockchain is being used the most? ›
In 2021, the total number of transactions on Ethereum surpassed the number of Bitcoin transactions for the first time. Because Ethereum is the foundation network for so many cryptocurrencies – and for most NFTs as well – it is reasonable to identify Ethereum as the world's most popular blockchain network.
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).
How fast is Aptos blockchain? ›
Speed – Aptos claims to have a transaction speed of over 150,000 per second.
Which is the fastest mining Cryptocurrency? ›
#1 Bitcoin (BTC)
Efficient Bitcoin mining necessitates specialized ASIC hardware, complemented by widely utilized software like CGMiner and BFGMiner. Additionally, Bitcoin halving events introduce heightened mining difficulty, momentarily dampening mining profitability until the market value of BTC rebounds.
