Daisy Watts
May 20, 2024
CoinGecko has recently outlined the top 25 fastest Blockchain network but surprisingly, Bitcoin and Ethereum — the most common digital currencies — has not even listed among the top 15. Reports suggested that Solana has been the leader, followed by Sui as well as Binance Smart Chain, etc.
Solana’s World
Regardless of multiple failures in the previous times, Solana has made its way to lead the chart and be the fastest on CoinGecko’s list. The average daily is at 1,053.7 transaction processing system (TPS). The network made history on April 6 by standing at 1,500 TPS which allowed Solana to win the race, as it was 46 times faster than Ethereum and 5x faster than Polygon, which has the highest TPS in Ethereum scaling solutions. According to CoinGeck, Solana's on average stands at a theoretical maximum speed of almost 65,000 TPS.
Additionally, Solana has also become the home to plenty of meme coins such as BOME, POPCAT, WIF, etc because of its speed and reduced transaction fees. As mentioned earlier, according to CoinGecko’s list Sui and BSC are 4x faster than their EVM counterparts, and Polygon 8x faster than Ethereum.
So, Ethereum stands on average at 22.7 TPS and failed to make its place in the list of top 15 and stands at no.17. Meanwhile, Polygon, another biggest layer two network on Ethereum stands at 190 TPS. Also, it is considered as the fastest one among Ethereum scaling solutions as mentioned 8x faster than Ethereum too.
Moreover, Bitcoin also failed to rank in the top positions, on average it stands at 10.73 TPS and was placed at 20th number which was followed by Mode, Nova, Though, etc.
