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Details on Solana (SOL) being ranked as the fastest blockchain

Unveiling an exciting revelation from a recent CoinGecko study: Solana stands tall as the reigning champion of speed in the blockchain realm. A remarkable 95 million transactions were effortlessly processed by the network in just one day.

The report delves deeper, showcasing Solana’s impressive daily average transactions per second (TPS) of 1,053, way ahead of the competition. Sui follows with 854 TPS, with BSC at 378 TPS, Polygon at 190 TPS, and TON at 175 TPS swaying into the mix. Tron, Near, and Avalanche also shine bright with their TPS figures.

Source: CoinGecko

In stark contrast, Ethereum and Bitcoin hold their ground with TPS figures of 22.8 and 10.7, respectively. This underscores the significant speed advantage of non-EVM blockchains over their EVM-compatible counterparts.

A standout moment for Solana was its peak performance on April 6, 2023, hitting a staggering 1,504 TPS fueled by a surge in meme coin activities. This record peak is a whopping 46 times higher than Ethereum’s TPS and more than five times faster than Polygon, the premier Ethereum scaling solution.

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Despite these remarkable feats, Solana’s peak TPS remains a mere 1.6% of its theoretical maximum cap of 65,000 TPS.

Solana, the avant-garde open-source blockchain platform, shines a light on reducing latency and maximizing throughput, even if it means compromising a bit on verifiability. It achieves this feat through a one-of-a-kind timestamp mechanism called proof of history (PoH), the revolutionary block propagation protocol Turbine, and the magic of parallel transaction processing.

In the words of Solana’s visionary founder, Anatoly Yakovenko, Solana’s primary mission transcends achieving maximum throughput; it strives to synchronize global states at the speed of light.


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