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 (SOL)
Solana offers the fastest blockchain transactions per second. It can handle up to 65,000 transactions per second (TPS). Its architecture allows parallel processing of multiple transactions, enhancing throughput and scalability.
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 rowsEthereum (ETH): The Ethereum blockchain hosts thousands of crypto tokens, establishing it as the preferred layer-1 blockchain for developers. Ethereum encompasses a wide range of applications, including metaverses, play-to-earn games, and decentralized finance ecosystems.
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.
Best Cryptocurrencies to Mine
- Monero (XMR) ...
- Zcash (ZEC) ...
- Ravencoin (RVN) ...
- Vertcoin (VTC) Current Mining Rewards: 12.5 VTC/block. ...
- Dash (DASH) Mining Rewards Per Block: 2.3097 DASH. ...
- Ethereum Classic (ETC) Mining Rewards Per Block: 2.5 ETC. ...
- Dogecoin (DOGE) Mining Rewards Per Block: 10,000 DOGE. ...
- Litecoin (LTC)
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 rowsThe most popular blockchains platforms are:
- Ethereum.
- Hyperledger Fabric.
- IBM.
- OpenChain.
- Stellar.
The cryptocurrency market has witnessed a remarkable trajectory of growth, with projections indicating a leap from $51.5 billion in 2024 to $71.7 billion by 2028. This represents a compound annual growth rate of 8.62%, showcasing the burgeoning interest and investment in digital currencies.
Which coin has the fastest blockchain? ›
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.
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.
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 crypto trading platform? ›
Cube is built for speed with snappy interactions and CPU-optimized rendering. Your orders are executed in a flash, setting a new standard for digital asset exchanges. Enjoy the luxury of trading assets across an array of blockchains, with seamless cross-chain conversions.
Is Sei faster than Solana? ›
So Solana is 3x more decentralized, which is an important factor for the future. Solana wins on block time, but Sei wins nearly three times faster when it comes to finality. If you are making a trade, you need verification that it got filled within a fraction of a second. So, this is an important win for Sei.
