- Solana has shaken off all the other blockchains.
- The network proved to rival Ethereum and Polygon in terms of speed.
- At the same time, non-EVM chains have proven to be four times faster than EVM networks.
On Friday, Solana proved to be the fastest among large blockchains, processing as many as 91 million daily transactions, CoinGecko said.
The analysis comes after the Solana network faced prolonged congestion issues for the better part of April. This caused SOL to sink below $150 after teasing north of $200 on the first day of the month. The Solana team has since released several updates to help fix the challenge.
Solana Blockchain Beats Polygon, Ethereum
According to CoinGecko’s analysis on May 17, Solana has established itself as the fastest blockchain in the industry. The network’s actual daily average transactions per second (TPS) reached a record high of 1,504 on April 6.
“This makes Solana 46 times faster than Ethereum, and more than 5 times faster than Polygon, which has the highest TPS among Ethereum scaling solutions,” CoinGecko said.
However, despite Solana ranking as the fastest blockchain, thanks to April’s memecoin craze, the network has only accomplished 1.6% of its theoretical maximum speed of 65,000 TPS.
Sui emerged as the second-fastest blockchain, with 854 TPS, its highest-ever recorded transaction speed in July 2023 as onchain game Sui 8192 gained popularity. BSC, Polygon, and TON followed Sui at 378 TPS, 190 TPS, and 175 TPS, respectively.
In the meantime, the analysis said non-EVM blockchains have proven to be almost four times faster than EVMs on average, with the eight non-EVM networks recording an average peak TPS of 284.
Read this article to understand how Solana’s congestion issue can be resolved:
Will Solana Update Fix Congestion? Here’s What It Relies On
Stay updated on Robinhood’s Solana staking product:
Robinhood Crypto Debuts Solana Staking Product in Europe
