Solana, Sui and Binance Smart Chain rank in top 3 fastest blockchains

Source Fxstreet
  • Solana, Sui and Binance Smart Chain have recorded the highest real transactions per second among blockchain networks. 
  • Solana ranks first with 1,053 daily average TPS per the CoinGecko report. 
  • Ethereum ranks in the top 20, with lower TPS than Layer 2 chains and most Layer 1 competitors. 

Crypto data tracker CoinGecko evaluated and ranked blockchains on the volume of transactions they can process. The crypto data aggregator identified the top 30 blockchain networks by total value of assets locked (TVL) and identified the maximum number of transactions processed by the network in the past year to rank them in the list. 

Ethereum’s Layer 1 competitors and Layer 2 chains rank in the top 20 blockchains. 

Solana, Sui and Binance Smart Chain lead the way in TPS

Blockchains can be compared for the total value of assets locked or user activity. However, comparing the volume of transactions per second (TPS) offers insight into the utility metrics of a blockchain. Higher TPS implies faster transaction processing and that the blockchain can handle a larger number of active users compared to its competitors, meaning higher adoption is likely. 

CoinGecko’s report on blockchains shows that the fastest blockchain, Solana, scored 1,053 daily average TPS in 2024. This is 1.6% of the chain’s theoretical speed of 65,000 TPS. Other Layer 1 chains, Sui and Binance Smart Chain processed 854.1 and 378.3 TPS, respectively. 

Blockchain

Fastest blockchains by daily average TPS

Ethereum ranks seventeenth in the list of blockchain networks, below most of its Layer 1 competitors and Layer 2 chains. Bitcoin failed to rank in the top 20 chains, the network processes 10.7 daily average transactions per second, ranking in the bottom 10, per the report. 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Dogecoin Price Forecast: DOGE steadies amid declining retail interest, bearish on-chain signalsBoth the on-chain and derivatives data suggest weak sentiment among retail and long-term holders.
Author  FXStreet
11 hours ago
Both the on-chain and derivatives data suggest weak sentiment among retail and long-term holders.
placeholder
Aave Price Forecast: AAVE approaches $1 trillion in all-time loans despite recent market downturnAave price rebounds, trading above $196 on Wednesday after finding support near a key technical level.
Author  FXStreet
11 hours ago
Aave price rebounds, trading above $196 on Wednesday after finding support near a key technical level.
placeholder
Forex Today: US Dollar consolidates gains ahead of key dataThe US Dollar (USD) stabilizes in the European morning on Wednesday after gathering strength against its major rivals for five consecutive trading days.
Author  FXStreet
11 hours ago
The US Dollar (USD) stabilizes in the European morning on Wednesday after gathering strength against its major rivals for five consecutive trading days.
placeholder
ADP Report expected to show a mild rebound in employment in OctoberThe Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for October on Wednesday.
Author  FXStreet
12 hours ago
The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for October on Wednesday.
placeholder
Silver price moves above $47.50 as safe-haven demand increasesSilver price (XAG/USD) halts its three-day losing streak, trading around $47.60 per troy ounce during the Asian hours on Wednesday.
Author  FXStreet
14 hours ago
Silver price (XAG/USD) halts its three-day losing streak, trading around $47.60 per troy ounce during the Asian hours on Wednesday.
Related Instrument
goTop
quote