25 Fastest Blockchain Networks Revealed, Bitcoin and Ethereum Not in Top 15 – CoinGecko

Examining the processing speed of the largest blockchain networks in terms of total value locked in DeFiLlama, CoinGecko described the fastest based on the metric of actual and completed transactions per speed (TPS).

The report concluded that Solana leads the way, followed by Sui and Binance Smart Chain. Interestingly, Ethereum and Bitcoin are not even in the top 15.

The world of Solana

Despite its several outages in recent years, the Solana blockchain has become the fastest on CoinGecko’s list. The average daily TPS stands at 1,053.7, while the network set a record on April 6 with just over 1,500.

According to the report, this makes Solana “46x faster than Ethereum and more than 5x faster than Polygon, which has the highest TPS among Ethereum scaling solutions.”

Even so, CoinGecko said Solana’s average TPS is still far from the developers’ claimed theoretical maximum speed of 65,000 TPS.

1/ Which blockchains are the fastest?

Our study proves it @solana has proven to be the fastest blockchain, with its average daily actual transactions per second (TPS) reaching an all-time high of 1,504 on April 6.

Read the full study: https://t.co/YNXbOBmsz7 pic.twitter.com/h7HXBbZavu

— CoinGecko (@coingecko) May 17, 2024

Perhaps due to its speed and relatively low transaction fees, Solana became home to numerous meme coins that appeared during this cycle, such as WIF, BONK, BOME, POPCAT, MEW, and others.

CoinGecko’s top 3 list is concluded with two other non-EVM networks: Sui and BSC. The paper said that non-EVM blockchains are, on average, four times faster than their EVM counterparts.

Polygon 8x faster than Ethereum

Ethereum moved from proof-of-work to proof-of-stake at the end of 2022, but still can’t find a place in the top 15 on CoinGecko’s list. He ranks 17th with an average TPS of 22.7. In contrast, Polygon, Ethereum’s largest layer 2 network, posted 190 TPS.

“Polygon is therefore currently the fastest among the largest Ethereum scaling solutions and 8.4 times faster than Ethereum itself, although Polygon lags further behind the 3 blockchains faster.”

Bitcoin, which is among the few networks that still have proof of work, is also not in the top positions. The average TPS of the world’s largest blockchain was 10.73, according to CoinGecko, which ranked it 20th. Interestingly, however, Blast, Merlin, Mode, zkLink Nova and Thorchain all came in behind Bitcoin .

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