You Won’t Believe How Fast Solana Is!
Did you know that Solana is the fastest among significant blockchains? It has an average of 1,504 transactions per second (TPS), outpacing Ethereum by a staggering 46 times! In fact, it’s over five times quicker than Polygon, the top Ethereum scaling solution.
Solana’s TPS: 46x Faster than Ethereum 🚀
- Solana demonstrated its peak performance on April 6, 2023, hitting the highest recorded daily TPS during a surge in memecoin activity.
- CoinGecko noted that despite this impressive feat, Solana operates at just 1.6% of its theoretical maximum speed of 65,000 TPS.
- Non-EVM blockchains generally outperform EVM-compatible ones in speed, with non-EVM blockchains being, on average, 3.9 times faster.
- Other fast non-EVM blockchains include Sui, TON, and Near Protocol.
The Challenges Remain 🛑
- In February 2024, Solana experienced a significant outage due to performance degradation, leading to a temporary transaction halt.
- Solana’s DeFi protocol Pump.fun was attacked, resulting in a loss of 12,000 SOL, or roughly $2 million.
- While Solana’s speed is impressive, it also faces challenges in maintaining network reliability and security.
Hot Take: Solana’s Need for Speed and Security
Solana has shown its prowess in speed, outpacing major blockchains by a significant margin. However, recent challenges such as network outages and security breaches have underscored the importance of maintaining reliability and security in the fast-paced world of blockchain technology. It’s a constant balancing act between speed and security for Solana and other leading blockchains in the industry.
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