Recent research from CoinGecko identifies a new trend for blockchain technology: The major draw, of course, is the incredible speed of Solana. During a meme coin transaction boom on April 6, 2023, Solana reached a remarkable average of 1,504 transactions per second (TPS), head and shoulders above any existing industry giant. In fact, that puts it 46 times in front of Ethereum and five times faster than Polygon, underlining a massive performance gap in processing capabilities.

The top 30 blockchains by total value locked have all seen one thing in common: general on-chain activity has grown over the last year on most non-EVM platforms. Solana is the largest network but still operates at only 1.6% of its potential 65,000 TPS—untapped capacity that could change the landscape in future transactions.

This data shows not only the potential of existing technology to be applied towards enhanced efficiency within transactions but also is a great exemplification for the larger crypto ecosystem. With the new upgrades coming, the battle for blockchain supremacy goes into overdrive, setting the table for a changing paradigm in handling digital transactions the world over.

CoinGecko