Solana, TRON, and NEAR are the top three decentralized ledgers with the most rapid transaction speed worldwide. That is according to data by Phoenix Group.
Blockchains are commonly recognized for their capability to process transactions in a decentralized approach and securely. But not all blockchains have equal abilities in terms of performance.
Through its latest research, Phoenix Group identified the most performing blockchains currently, depending on their ability to process a high number of transactions per second (TPS) daily.
As per the data, Solana is the fastest blockchain in the world, having the highest daily average transactions per second (TPS) at a rate of 4113 TPS. TRON is the second with 612 TPS while the third is NEAR blockchain with 224 TPS.
Top Blockchains with Highest TPS
The survey ranked the largest blockchains, ranked from fastest to slowest, according to the highest transactions per second (TPS) achieved daily:
By comparison, Ethereum and Bitcoin have 14 TPS and 7.4 TPS respectively. This shows that non-EVM blockchains provide much faster transaction times than their EVM-compatible counterparts.
Why blockchain transactions Speed (TPS) matters Web3 projects
Web3 projects, including Dapps, DeFi), gaming, NFTs, metaverse, and others, typically run on top of decentralized networks. Therefore, a higher TPS means that these applications can operate more effectively and on a large scale.
Users play games, trade derivatives, stake tokens, build stuff in the metaverse, and do various trading activities that produce multiple transactions. This means that blockchains with slow transaction speeds can no longer make an edge in serving Web3 projects’ needs.
Many blockchains claim to be super-fast. The above-mentioned 25 blockchains are recognized for processing the highest real TPS. This signals on-chain activity rising and reaching higher levels on these networks.