In the ever-evolving landscape of blockchain technology, transaction speed has become one of the most critical benchmarks for evaluating network performance. As decentralized applications, meme coins, and on-chain gaming gain momentum, the demand for high-throughput blockchains has never been greater. According to a recent report by CoinGecko, leading platforms like Solana and Sui are setting new standards in transaction processing, outpacing traditional Ethereum-based chains by significant margins.
This surge in performance highlights a broader shift in the blockchain ecosystem—where speed, scalability, and real-world usability are now at the forefront of innovation.
Solana Dominates with Unmatched Transaction Speed
Solana has solidified its position as the fastest large-scale blockchain, achieving a peak throughput of 1,504 transactions per second (TPS) on April 6, 2024. This milestone not only underscores Solana’s technical superiority but also places it far ahead of its competitors.
To put this into perspective:
- Solana is 46 times faster than Ethereum (which averages around 30 TPS).
- It outperforms Polygon—the leading Ethereum scaling solution—by over 5 times.
- Despite this impressive feat, Solana is operating at just 1.6% of its theoretical maximum capacity of 65,000 TPS.
👉 Discover how next-gen blockchains are redefining speed and efficiency in decentralized networks.
However, rapid growth brings challenges. Network congestion remains a recurring issue during periods of high activity, particularly when meme coins or NFT mints trigger sudden spikes in demand. The Solana team is actively working on protocol upgrades to improve stability and scalability, with expectations that future optimizations will unlock even higher TPS rates and enhance user experience across DeFi, gaming, and social dApps.
Non-EVM Blockchains Surpass Ethereum-Compatible Chains
One of the most striking findings from the report is the growing performance gap between non-EVM (Ethereum Virtual Machine) blockchains and their EVM-based counterparts.
Non-EVM platforms—designed from the ground up for speed and parallel processing—are averaging nearly four times the transaction speed of EVM chains. Among them, Sui stands out as a top performer.
Sui Achieves 854 TPS During Gaming Surge
Sui reached a peak of 854 TPS in July 2023, driven by the viral success of Sui 8192, an on-chain game that showcased the network’s ability to handle real-time, high-frequency transactions. This level of throughput demonstrates Sui’s potential for supporting complex applications such as:
- Play-to-earn games
- Decentralized social media
- Instant micropayments
Other notable non-EVM blockchains include:
- TON (The Open Network): Peaked at 175 TPS
- Near Protocol: Reached 118 TPS
These platforms leverage innovative consensus mechanisms and data structures—like DAG (Directed Acyclic Graph) and parallel execution—to process transactions more efficiently than traditional sequential blockchains.
BSC and Polygon Lead the EVM Pack
While EVM-based blockchains trail behind non-EVM leaders in raw speed, two networks stand out for pushing the limits within the Ethereum-compatible ecosystem: Binance Smart Chain (BSC) and Polygon.
Binance Smart Chain Hits 378 TPS
BSC achieved a record 378 TPS on December 7, 2023, fueled by a surge in decentralized exchange activity and yield farming incentives. As one of the most widely used EVM chains, BSC continues to attract developers and users seeking low-cost alternatives to Ethereum.
Polygon Reaches 190 TPS
Polygon hit 190 TPS on November 16, 2023, benefiting from increased adoption in gaming and NFT projects. While significantly slower than Solana or Sui, Polygon remains a key player in Ethereum scaling due to its strong developer support, interoperability features, and integration with major Web3 platforms.
Despite these achievements, EVM-based blockchains are inherently limited by their sequential transaction processing model, making it difficult to scale without compromising decentralization or security.
On-Chain Activity Fuels Speed Breakthroughs
The CoinGecko report reveals a broader trend: 24 out of 25 top blockchains recorded their highest-ever real-world TPS within the past 12 months. This widespread surge is largely attributed to:
- Meme coin mania: Viral tokens like WIF, BONK, and POPCAT have driven massive user engagement on high-speed chains.
- Inscription booms: Inspired by Bitcoin’s Ordinals, blockchain-embedded digital artifacts have increased transaction volume across multiple networks.
- Gaming and social dApps: Real-time interactions require fast finality and low fees—conditions met best by next-generation blockchains.
As user behavior shifts toward more interactive and transaction-heavy applications, networks capable of handling high throughput will continue to gain market share.
👉 See how emerging blockchains are meeting the demands of modern Web3 users.
What’s Next for Blockchain Speed?
While current speeds are impressive, they represent only the beginning. Upcoming upgrades across multiple platforms aim to further boost TPS through:
- Improved consensus algorithms
- Parallel execution engines
- Layer-2 scaling solutions
- Hardware-level optimizations
For example:
- Solana is exploring deeper pipelining and quality-of-service improvements.
- Sui is enhancing its object-centric model to enable even faster smart contract execution.
- Ethereum’s roadmap includes proto-danksharding, which could increase rollup capacity significantly.
These innovations suggest that we’re moving toward a future where blockchains can handle millions of users simultaneously—without lag or exorbitant fees.
Frequently Asked Questions (FAQ)
Q: Why is transaction speed important for blockchains?
A: High transaction speed enables smoother user experiences for applications like DeFi trading, gaming, and payments. Faster finality reduces waiting times and improves scalability for mass adoption.
Q: How do Solana and Sui achieve such high TPS?
A: Both use parallel processing architectures—Solana via its proof-of-history mechanism and Sui through its object-based data model—which allow multiple transactions to be processed simultaneously, unlike traditional linear chains.
Q: Can EVM blockchains ever match non-EVM speeds?
A: While improvements like rollups and sharding help, EVM’s sequential design poses inherent limitations. True parity may require fundamental architectural changes beyond current upgrades.
Q: What role do meme coins play in increasing blockchain activity?
A: Meme coins often trigger sudden spikes in transactions due to speculative trading and community-driven launches. They act as stress tests for networks, revealing strengths and weaknesses under load.
Q: Is higher TPS always better?
A: Not necessarily. Speed must be balanced with decentralization and security—the "blockchain trilemma." A fast but centralized or vulnerable network compromises core blockchain principles.
Q: Are these TPS figures theoretical or real-world?
A: The numbers cited are real observed peaks, not theoretical maximums. This makes them strong indicators of actual network performance under heavy usage.
👉 Explore the platforms powering the next generation of high-speed blockchain applications.
Final Thoughts
The race for blockchain supremacy is no longer just about decentralization or security—it’s increasingly about speed. With Solana and Sui leading the charge, we’re witnessing a new era where transaction throughput directly influences user adoption and developer preference.
As on-chain activity grows—fueled by memes, games, inscriptions, and social finance—the pressure to scale intensifies. While EVM chains like BSC and Polygon continue to innovate, non-EVM platforms are proving that purpose-built architectures can deliver unmatched performance.
For investors, developers, and users alike, staying informed about these advancements is crucial. The fastest blockchains today may very well shape the dominant Web3 ecosystems of tomorrow.