According to a report by CoinGecko, Solana has become the fastest major blockchain because of more action on meme coins. SOL average daily transactions per second (TPS) hit a new high of 1,504 on April 6. However, this is only 1.6% of its potential top speed of 65,000 TPS.
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. CoinGecko report
On the other hand, BNB Chain and Polygon, which both have speeds of 378 TPS, are the fastest Ethereum Virtual Machine (EVM) blockchains. 8 times faster than Ethereum, which runs at 22.7 TPS, is Polygon.
Solana Leads TPS Records
According to the study, most TPS records were set in the last year. Twelve networks reached their highest point in 2023, and another twelve did so in 2024. Thorchain is the only one that didn’t peak until 2022. CoinGecko’s research shows that meme coin speculation drives more action on the blockchain.
Solana is fast, but scam tokens have spread through the network. ZachXBT, a cryptocurrency analyst, found 12 SOL meme coin projects shut down soon after their first sales. The assets of 27 Solana-based joke coin projects have raised about $112 million.
