Discover the Fastest Blockchain Networks in Crypto!
When it comes to blockchain technology, speed is key. The ability to process transactions quickly and efficiently is essential for the success of any blockchain network. CoinGecko recently conducted a study to determine the fastest blockchain networks based on their transactions-per-second (TPS) metric. Let’s take a closer look at the top performers:
Solana Shines as the Fastest Blockchain
Solana has emerged as the frontrunner in terms of speed, boasting an average daily TPS of 1,053.7. On April 6, the network even reached a record high of over 1,500 TPS. This places Solana 46 times faster than Ethereum and over 5 times faster than Polygon, making it a standout performer in the space.
- Solana’s speed sets it apart
- Average daily TPS of 1,053.7
- Record high of over 1,500 TPS
Despite its impressive speed, Solana still has room for improvement to reach the theoretical maximum speed of 65,000 TPS claimed by its developers.
Non-EVM Networks in the Top 3
CoinGecko’s report highlighted that the top 3 fastest blockchain networks include two non-EVM networks – Solana and the Binance Smart Chain (BSC). These non-EVM blockchains are, on average, 4 times faster than their EVM counterparts, showcasing the efficiency of alternative network structures.
- Non-EVM networks stand out
- Efficient alternatives to EVM
- 4 times faster on average
Polygon Surpasses Ethereum in Speed
While Ethereum continues to be a dominant player in the blockchain space, its transition to proof of stake has not propelled it to the top of the speed charts. Ethereum currently holds the 17th spot with an average TPS of 22.7. In contrast, Polygon, the leading layer 2 network on Ethereum, boasts 190 TPS, making it 8.4 times faster than Ethereum itself.
- Polygon leads the way
- Largest layer 2 network on Ethereum
- 190 TPS compared to Ethereum’s 22.7 TPS
On the other hand, Bitcoin, with its proof of work consensus mechanism, lags behind in terms of speed. With an average TPS of 10.73, Bitcoin sits at the 20th spot on CoinGecko’s list. However, several other networks like Blast, Merlin, Mode, zkLink Nova, and Thorchain also trail behind Bitcoin in terms of speed.
Hot Take: Speed Matters in the World of Blockchain!
As the blockchain industry continues to evolve, speed remains a critical factor in determining the success of a network. Solana’s impressive performance, along with the efficiency of non-EVM networks like Sui and BSC, showcases the importance of speed in driving innovation and adoption in the crypto space. Stay tuned for more updates on the fastest blockchain networks in the dynamic world of crypto!
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