Solana has proven to be the fastest among the major blockchains, according to a report by CoinGecko.
the report States On April 6, the average number of daily transactions per second (TPS) reached a record high of 1,504 amid the meme coin boom on Solana.
“This makes Solana 46 times faster than Ethereum and more than five times faster than Polygon, which has the highest TPS among Ethereum scaling solutions.”
CoinGekko reports
Despite being considered the fastest blockchain, Solana only achieved 1.6% of its theoretical maximum speed of 65,000 TPS.
BNB Chain and Polygon are the fastest EVM blockchains, with 378 TPS and 190 TPS respectively. The latter is 8.4 times faster than Ethereum, which reaches 22.7 transactions per second.
Almost all TPS records were set in the last 12 months. 12 networks peaked in 2023 and another 12 in 2024. The exception is the slowest on the list, Thorchain, whose speed peaked in 2022. CoinGecko claims that indicators show an increase in activity on the chain, driven by inscriptions and speculation on memes. Coins.
However, Solana's speed did not protect the network from the growth of fraudulent tokens. A cryptocurrency investigator under the pseudonym ZachXBT identified 12 meme coin projects released on the Solana blockchain, which were abandoned by the founders almost immediately after the initial asset sale. 27 Solana-based meme coin projects have attracted around $112 million in investor assets.