Coingecko analyzed blockchain performances and compiled a list of the fastest blockchains. The study revealed that Solana, SUI, and BSC chains were the fastest chains among large blockchains.
The study revealed that most non-EVM blockchains are relatively faster than EVM-based ones. Solana, SUI, and Binance Smart Chain topped the list, followed closely by Ton and NEAR protocol.
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The fastest blockchain on the list reached a record high of 1,054 daily average transactions per second (TPS). The slowest one at number 10, Gnosis, recorded 65.6 transactions per second. According to the study, the top 10 fastest chains include;
- Solana(1053.7)
- Sui(854.1)
- BSC(378.3)
- Polygon(190.4)
- TON(175.5)
- Tron(159.6)
- Near(117.8)
- Avalanche(89.2)
- Cronos(72.2)
- Gnosis(65.6)
Solana Blockchain Records Fastest TPS
The Solana blockchain recorded the fastest TPS of all blockchain networks, making it the only network that can practically handle over 1000 TPS. On average, the daily average transactions per second on Solana reached a record high of 1,504 during the study.
Top 25 Fastest Blockchains by Max Daily Average TPS
1. Solana – 1,054 TPS
2. Sui – 854 TPS
3. BSC – 378 TPS
4. Polygon – 190 TPS
5. TON – 175 TPS
6. Tron – 160 TPS
7. Near – 118 TPS
8. Avalanche – 89 TPS
9. Cronos – 72 TPS
10. Gnosis – 66 TPS
11. Fantom – 59 TPS
12. Arbitrum -…— CoinGecko (@coingecko) May 17, 2024
Although Solana took the top spot, its network has significantly underperformed compared to its theoretical potential. By the books, Solana can achieve a maximum speed of 65,000 TPS. In contrast, the chain only achieved about 1.6% of its theoretical potential.
Non-EVM Beats EVM-Based chains
The study also revealed that non-EVM-based blockchains are relatively faster than their counterparts. The first two chains on the top 10 list are non-EVM and are closely tailed by other non-EVM chains like TON and Near Protocol. Bitcoin, among the slowest non-EVM chains, with 11 TPS, while Thorchain recorded 2 TPS.
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EVM chains also faired well in this analysis, with significant disparities visible at the bottom end of the ranking. BNB Smart Chain and Polygon emerged as the fasted EVM chains. Coingecko compared the 17 largest chains and concluded that non-EVM chains are almost four times faster than EVM chains.
Coingecko Explains the Methodology
The rankings as reported by Coingecko research analysis selected top chains based on Total Value Locked, as of May 15th. The speeds are determined using TPS, which is short for transactions per second, and was calculated using data that are available publicly.
Interestingly, Cardano was excluded from the study due to the lack of sufficient data.
Cryptopolitan reporting by Collins J. Okoth.
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