Which is the Quickest Blockchain?
Solana has confirmed to be the quickest amongst massive blockchains, with its precise every day common transactions per second (TPS) reaching a document excessive of 1,504 on April 6 this 12 months amid the memecoin mania. This makes Solana 46 instances sooner than Ethereum, and greater than 5 instances sooner than Polygon, which has the very best TPS amongst Ethereum scaling options.
Regardless of rating because the quickest blockchain, Solana has nonetheless solely achieved 1.6% of its theoretical most pace of 65,000 TPS.
On the identical time, the surging variety of transactions resulted in community congestion and it stays to be seen how shortly Solana can document greater actual TPS after its upcoming upgrades.
Non-EVM Blockchains Virtually 4X Sooner Than EVMs on Common
The second quickest blockchain is one other non-EVM, Sui, which recorded its highest actual TPS of 854 in July 2023 as onchain game Sui 8192 gained recognition.
Different quick blockchains among the many non-EVMs embrace TON at 175 TPS and Near Protocol at 118 TPS. In the meantime, the non-EVM blockchains which have recorded comparatively decrease actual processing pace are Aptos (49 TPS), Starknet (12 TPS), Bitcoin (11 TPS) and Thorchain (2 TPS).
Altogether, the 8 non-EVM massive blockchains have a median peak TPS of 284. Compared, the 17 largest EVM and EVM-compatible blockchains realized a median of simply 74 TPS. This makes the non-EVM blockchains 3.9 instances sooner than the EVM blockchains.
BSC & Polygon Lead As Quickest EVM Blockchains
BNB Smart Chain (BSC) achieved 378 in actual TPS on December 7, 2023 amid the inscriptions-driven surge in onchain exercise. This makes BSC the quickest blockchain amongst EVMs, regardless of solely rating third total and reaching lower than half of Sui’s realized processing pace.
Equally, the inscriptions craze allowed Polygon to document 190 in actual TPS on November 16, 2023. Polygon is subsequently at the moment the quickest among the many largest Ethereum scaling options and eight.4 instances sooner than Ethereum itself, whilst Polygon lags additional behind the highest 3 quickest blockchains.
In different phrases, particular person Ethereum scaling options and layer 2s haven’t but been in a position to surpass different layer 1s when it comes to actual processing pace. This would possibly partly be because of the decrease variety of onchain transactions on Ethereum scaling options, leading to slower realized TPS for these blockchains.
Altogether, Ethereum and its ten largest scaling options registered a complete actual TPS of 500, inserting their mixed processing pace forward of BSC however nonetheless slower than Solana and Sui. Apart from Polygon, the 4 different scaling options which have confirmed to be sooner than Ethereum (23 TPS) embrace Arbitrum (59 TPS), Linea (56 TPS), Base (37 TPS) and Mantle (25 TPS).
Virtually All of the Actual TPS Data Have been Set in Previous 12 Months
24 out of the 25 blockchains skilled their highest actual TPS during the last one 12 months, starting from Tron on June 12, 2023 to zkLink Nova most lately on Might 13, 2024. Particularly, 12 recorded their highest actual TPS in 2023 and one other 12 in 2024. The one exception is Thorchain, which achieved its highest actual TPS in Might 2022.
This factors to onchain exercise growing and reaching greater ranges in latest months, led by inscriptions and memecoin hypothesis.
High Blockchains’ Highest TPS
The biggest blockchains, ranked from quickest to slowest primarily based on all-time highest every day common TPS achieved:
| Rank | Blockchain | Highest TPS |
|---|---|---|
| 1 | Solana | 1,053.65 |
| 2 | Sui | 854.05 |
| 3 | BSC | 378.27 |
| 4 | Polygon | 190.39 |
| 5 | TON | 175.46 |
| 6 | Tron | 159.61 |
| 7 | Close to | 117.84 |
| 8 | Avalanche | 89.16 |
| 9 | Cronos | 72.19 |
| 10 | Gnosis | 65.57 |
| 11 | Fantom | 59.17 |
| 12 | Arbitrum | 58.97 |
| 13 | Linea | 55.70 |
| 14 | Aptos | 49.48 |
| 15 | Base | 37.49 |
| 16 | Mantle | 25.47 |
| 17 | Ethereum | 22.70 |
| 18 | Starknet | 12.30 |
| 19 | Optimism | 11.79 |
| 20 | Bitcoin | 10.73 |
| 21 | Blast | 9.90 |
| 22 | Merlin | 7.48 |
| 23 | Mode | 6.52 |
| 24 | zkLink Nova | 3.69 |
| 25 | Thorchain | 2.05 |
Methodology
The research examined the processing pace of the biggest blockchains. The highest 30 blockchains have been chosen primarily based on complete worth locked (TVL) rating on DefiLlama on Might 15, 2024. Processing pace was measured utilizing precise or realized transactions per second (TPS), and outlined when it comes to every day common with a purpose to acquire standardized TPS for as many chains as attainable. Because of this, the very best actual TPS calculated right here could also be greater or decrease than different calculations. TPS was calculated utilizing publicly accessible knowledge from the respective blockchain explorers and Dune Analytics. Chains that lacked enough knowledge have been excluded from the research, particularly Hyperliquid, PulseChain, Kava, Cardano and Rootstock.
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Lim Yu Qian
Observe the creator on Twitter @solosbrqt
