Bitcoin
The 25 fastest Blockchain networks revealed, Bitcoin and Ethereum are not among the top 15: CoinGecko
When 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, followed by Sui and Binance Smart Chain. Interestingly, Ethereum and Bitcoin are not even in the top 15.
The world of Solana
Despite your multiple interruptions In recent years, the Solana blockchain has emerged as the fastest on CoinGecko’s list. The daily TPS average is 1,053.7, while the network posted a record on April 6 with just over 1,500.
According to the report, this makes Solana “46 times faster than Ethereum and more than 5 times faster than Polygon, which has the highest TPS among Ethereum scaling solutions.”
Still, CoinGecko said Solana’s average TPS is still far from the developers’ claimed theoretical maximum speed of 65,000 TPS.
Perhaps due to its speed and relatively low transaction fees, Solana has become home to numerous meme coins that have emerged during this cycle, such as WIF, BONADOGOOD, POPCATMEW et al.
CoinGecko’s top three list is rounded out by two other non-EVM networks – Sui and BSC. The article said that non-EVM blockchains are, on average, 4x faster than their EVM counterparts.
Polygon 8x faster than Ethereum
Ethereum transitioned from proof-of-work to proof-of-stake at the end of 2022, but still cannot find a place in the top 15 on CoinGecko’s list. It 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, even if Polygon is even further behind the 3 fastest blockchains.”
Bitcoin, being among the few networks still with proof of work, should also not be in the top positions. The average TPS of the world’s largest blockchain was 10.73, according to CoinGecko, which placed it in 20th position. Interestingly, however, Blast, Merlin, Mode, zkLink Nova and Thorchain trailed behind Bitcoin.