In the world of blockchain, speed is everything. But which blockchain can process the most transactions per second? Coingecko has crunched the numbers to find out.
In a recent report, Coingecko analyzed the top 30 blockchains over the past 12 months. The results are in, and the winner is clear: Solana. With an average of 1,053 transactions per second (TPS), Solana takes the top spot.
But what's even more impressive is that Solana reached a peak of 1,504 TPS on April 6th, during the height of the Memecoin craze. According to Coingecko, Solana has proven itself to be the fastest among the major blockchains.
However, Coingecko notes that Solana has only reached 1.6% of its theoretical maximum speed of 65,000 TPS. This raises questions about the blockchain's scalability and whether it can handle the demand. Coingecko advises waiting to see how Solana performs after its upcoming upgrades.
Coming in second is Sui, with an average of 854 TPS. Binance Smart Chain takes third place with 378 TPS.
But what about the popular blockchains? Ethereum, the second-largest blockchain by market capitalization, comes in at a paltry 22 TPS, ranking 17th. Bitcoin, the largest blockchain by market capitalization, lags behind with 10 TPS, ranking 20th.
The results are a wake-up call for the blockchain community, highlighting the need for faster and more scalable solutions. As the demand for blockchain technology continues to grow, it's clear that speed and scalability will be the key differentiators in the years to come.
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