Solana's Exceptional Speed Dominance Revealed in CoinGecko Report

Friday, 17 May 2024, 09:36

Solana showcases remarkable speed dominance in the blockchain realm with 1,504 TPS, significantly outperforming Ethereum and Polygon. However, despite its speed, Solana faces reliability challenges, as indicated by a recent outage and exploit incident.
https://store.livarava.com/a45d51c3-1435-11ef-a6c2-63e1980711b2.jpg
Solana's Exceptional Speed Dominance Revealed in CoinGecko Report

Solana's Speed Dominance

Solana has positioned itself at the forefront in blockchain speed, boasting an outstanding 1,504 TPS that exceeds Ethereum by 46 times and Polygon by over five times.

Speed Comparison

On April 6, 2023, Solana demonstrated peak performance, hitting the highest daily TPS record.

  • Remarkably, Solana operates at just 1.6% of its theoretical maximum speed of 65,000 TPS, highlighting substantial potential for growth.

Competitive Landscape

Non-EVM blockchains like Solana outperform EVM-compatible ones by 3.9 times on average.

  1. Sui stands as the second-highest actual TPS recorder at 854 TPS.
  2. Other notable fast non-EVM blockchains include TON with 175 TPS and Near Protocol with 118 TPS.

In contrast, EVM and EVM-compatible chains average just 74 TPS.

Network Challenges

  • Outage: In February 2024, Solana experienced a substantial outage due to performance degradation.
  • Security Incident: An exploit attack on Solana's DeFi protocol led to a loss of $2 million, emphasizing the importance of enhanced security measures.

Despite its speed advantage, Solana's journey to the top comes with critical challenges that underscore the intricacies of blockchain technology and the necessity of maintaining network reliability and security.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe