Solana, TRON and NEAR make up the top three decentralized ledgers with the fastest transaction speed in the world. This is evident from data from Phoenix Group.
Blockchains are widely recognized for their ability to process transactions in a decentralized and secure manner. But not all blockchains have the same capabilities in terms of performance.
Through its latest research, Phoenix Group has currently identified the best performing blockchains depending on their ability to process a high number of transactions per second (TPS) on a daily basis.
According to the data, Solana is the fastest blockchain in the world, with the highest daily average transactions per second (TPS) at a speed of 4113 TPS. TRON is second with 612 TPS, while third is NEAR blockchain with 224 TPS.
Top Blockchains with the Highest TPS
The study ranked the largest blockchains, ranked from fastest to slowest, based on the highest transactions per second (TPS) achieved daily:
For comparison, Ethereum and Bitcoin have 14 TPS and 7.4 TPS respectively. This shows that non-EVM blockchains offer 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. A higher TPS therefore means that these applications can operate more effectively and on a larger scale.
Users play games, trade derivatives, stake tokens, build things in the metaverse, and perform various trading activities that yield multiple trades. This means that blockchains with slow transaction speeds can no longer gain an edge in meeting the needs of Web3 projects.
Many blockchains claim to be super fast. The above 25 blockchains are recognized for processing the highest real TPS. This indicates that activity in the chain is increasing and reaching a higher level on these networks.
