Solana Becomes the Fastest Blockchain, Ethereum and Polygon Are Far Behind!

Bittime - Solana, one of the hottest blockchains, has just proven its superiority in terms of transaction speed. This blockchain managed to outperform Ethereum and Polygon.

Based on CoinGecko's latest report, Solana is now officially the fastest blockchain. The average daily transaction on the network reached 1,504 transactions per second (TPS) which was recorded on April 6, 2024. 

Check Today's Crypto Market:

This figure far surpasses Ethereum (22.8 TPS) and even Polygon (190 TPS), which is known as the fastest scaling solution in the Ethereum ecosystem.

Solana's incredible speed didn't come out of nowhere. The Solana development team was quick to overcome the network congestion problem that occurred last April. 

Also read: Solana Surpasses Ethereum! DEX on the Solana Network Records 2 Times More Transactions

As a result of this problem, the price of the SOL token fell below $150 (around Rp. 2.4 million) after previously approaching $200 (around Rp. 3.2 million). Luckily, the various updates they rolled out managed to address the issue.

Interestingly, this achievement only shows a small part of Solana's potential. In theory, this blockchain is capable of processing up to 65,000 TPS. Currently, Solana has only reached 1.6% of its maximum capability.

Solana is not alone. Sui, another new blockchain, occupies the second fastest position with a peak score of 854 TPS. 

The popularity of Sui 8192's on-chain games has helped drive increased activity on the network. Behind Sui, there are other well-established blockchains such as BSC (378 TPS), Polygon (190 TPS), and TON (175 TPS).

Also Read How To Buy Crypto:

Meme Coin and Technological Innovation Drive Solana Speed

Solana's speed surge was fueled in part by the memecoin fever that hit its network in April. This shows Solana's ability to handle large transaction volumes. 

Also read: Solana SOL: Leading Top-3 Crypto Asset Candidate

This brilliant performance further strengthens Solana's position as a leading player in the blockchain industry, while demonstrating its potential to continue to grow and innovate.

The secret behind Solana's success lies in their innovative approach to blockchain architecture. The platform utilizes a number of unique features, such as the Proof of History (PoH) time stamping mechanism. 

This is an efficient block propagation protocol called Turbine, as well as the ability to process transactions in parallel. This combination of features allows Solana to achieve unmatched speed and efficiency, making it an attractive choice for developers and users.

The CoinGecko report also revealed the superiority of non-EVM (Ethereum Virtual Machine) blockchains in terms of speed. On average, non-EVM blockchains have nearly four times the speed of EVM-compatible blockchains. 

The eight non-EVM networks analyzed in this report recorded an average TPS peak of 284.

Overall, this report shows positive trends in the blockchain world. Almost all leading blockchains managed to set new records for real TPS in the last year. A total of 24 of the 25 platforms analyzed reached their peak TPS in that period. 

Check Crypto Prices Today:

This trend is primarily driven by the growing interest in memecoins and inscription-based transactions. As blockchain technology advances, platforms like Solana and Sui are expected to continue pushing the boundaries of transaction speed to greater heights.

How to Buy Solana (SOL) on Bittime

You can buy and sell Solana (SOL) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Solana (SOL) is available on Bittime with the market pair SOL/IDR. To be able to buy SOL IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn Complete guide on how to buy Solana (SOL) on Bittime. 

Monitor price chart movements for Solana (SOL), Bitcoin (BTC), Ethereum (ETH) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Read also:

Donald Trump Affirms the Future of Crypto and Bitcoin in the USA

Solana Price Rise: Is Solana Ready to Hit $120? In-depth Analysis of Multiple Support

Solana Network Disruption, What are the Causes and Impact?

Memecoin Solana Skyrockets, Time to Buy These 4 Tokens

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.