Solana (SOL), the smart contract platform, is making waves as the fastest blockchain according to CoinGecko. Surpassing its rival Ethereum (ETH), Solana is an astounding 46 times faster, making it the top contender in the market. Despite this achievement, Solana has only reached 1.6% of its maximum potential throughput.
On April 6th of this year, Solana set a new record with an average of 1,504 transactions per second (TPS) during the memecoin frenzy, solidifying its position as the fastest among large blockchains. In comparison, Ethereum is significantly slower with a TPS of just 22.70, while Polygon, the fastest Ethereum scaling solution, falls short with a TPS of five times less than Solana.
Although Solana holds the title for the fastest blockchain, it has only achieved a fraction of its maximum speed, which is 65,000 TPS. CoinGecko’s statistics reveal that Solana’s highest throughput reached 1,053.7 TPS, while Ethereum and its top 10 layer-2 scaling solutions combined for a total of 500 TPS.
The list of fast blockchains also includes Sui Network (SUI), Binance Smart Chain (BSC), Polygon (MATIC), Toncoin (TON), Tron (TRON), Near Protocol (NEAR), and Avalanche (AVAX).
As of now, Solana is trading at $172, showing a 7.63% increase in the last 24 hours.
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