Ethereum
25 Fastest Blockchain Networks Revealed, Bitcoin and Ethereum Not in Top 15: CoinGecko
Looking at the processing speed of the largest blockchain networks in terms of total value locked on DeFiLlama, CoinGecko outlined the fastest based on actual and realized transactions per speed (TPS) metric.
The report concludes that Solana leads the way, followed by Sui and Binance Smart Chain. Interestingly, Ethereum and Bitcoin are not even in the top 15.
Solana’s world
Despite its several breakdowns Over the past few years, the Solana blockchain has become the fastest on CoinGecko’s list. The average daily TPS stands at 1,053.7, while the network marked a record on April 6 at 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.”
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 became the home of many meme coins that emerged during this cycle, such as WIF, BONKBOME, POPCATMEW and others.
CoinGecko’s top 3 list is rounded out by two other non-EVM networks – Sui and BSC. The paper states 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 it still fails to find a place in the top 15 of CoinGecko’s list. He ranks 17th with an average TPS of 22.7. In contrast, Polygon, the largest layer 2 network on Ethereum, posted 190 TPS.
“So Polygon is currently the fastest among the largest Ethereum scaling solutions and 8.4 times faster than Ethereum itself, although Polygon is still further behind the 3 fastest blockchains .”
Bitcoin, which is one of the few networks still on proof of work, should not appear in the top positions either. The average TPS of the world’s largest blockchain was 10.73, according to CoinGecko, which placed it in 20th place. Interestingly, Blast, Merlin, Mode, zkLink Nova, and Thorchain rank behind Bitcoin.