Solana became fastest blockchain amid meme coin craze
Solana proved to be the quickest amongst main blockchains, in response to a report by CoinGecko.
The report states that on April 6, the typical day by day variety of transactions per second (TPS) reached a document excessive of 1,504 amid the growth of meme cash on Solana.
“This makes Solana 46 occasions sooner than Ethereum and greater than 5 occasions sooner than Polygon, which has the best TPS amongst Ethereum scaling options.”
CoinGecko report
Regardless of being thought-about the quickest blockchain, Solana solely achieved 1.6% of its theoretical most velocity of 65,000 TPS.
BNB Chain and Polygon are the quickest EVM blockchains, with 378 TPS and 190 TPS, respectively. The latter is 8.4 occasions sooner than Ethereum, whose velocity reaches 22.7 transactions per second.
Nearly all TPS information have been set within the final 12 months. Twelve networks peaked in 2023 and one other 12 in 2024. The exception is the slowest on the record, Thorchain, whose velocity peaked in 2022. CoinGecko claims the symptoms present a rise in exercise on the on-chain, pushed by inscriptions and hypothesis on meme cash.
Nevertheless, Solana’s velocity didn’t shield the community from the expansion of rip-off tokens. A cryptocurrency detective below the pseudonym ZachXBT recognized 12 meme coin initiatives issued on the Solana blockchain, which have been deserted by the founders nearly instantly after the preliminary sale of belongings. 27 meme coin initiatives primarily based on Solana attracted about $112 million in investor belongings.
