which blockchain is fastest

Solana stands out as the fastest blockchain with a remarkable transaction processing speed of 65,000 TPS.

Oct 18, 2024 at 11:18 pm

Which Blockchain is the Fastest?

1. OKX Chain

Launched in 2022, OKX Chain is a public blockchain developed by OKX. It utilizes a modified version of the Tendermint consensus protocol and boasts a transaction processing speed of up to 1,000 transactions per second (TPS).

2. Solana

Solana, launched in 2020, is a high-performance blockchain known for its scalability and speed. It employs a unique combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms, allowing it to process an impressive 65,000 TPS.

3. Polkadot

Polkadot is a multi-chain protocol that facilitates interoperability between different blockchains. It operates a relay chain that connects various parachains, each of which has its own blockchain with varying transaction speeds. Among the fastest parachains is Moonbeam Network, which can process over 100 TPS.

4. EOS

EOS, launched in 2018, positions itself as an enterprise-focused blockchain with high transaction throughput. It uses a delegated proof-of-stake (DPoS) consensus mechanism that enables it to achieve speeds of approximately 4,000 TPS.

5. Tron

Tron, founded in 2017, is a decentralized blockchain platform designed for the entertainment and content-sharing industries. It employs a modified version of DPoS and boasts a transaction processing speed of over 2,000 TPS.

6. Elrond

Elrond, launched in 2020, is a scalable blockchain that utilizes a unique sharding mechanism called Adaptive State Sharding. This approach divides the blockchain into multiple partitions, allowing for parallel transaction processing and achieving a potential speed of 15,000 TPS.

7. Polygon

Polygon is a layer-2 scaling solution for Ethereum that provides faster and cheaper transactions. It offers different protocols for scalability, including PoS and side chains. Polygon can handle transaction speeds ranging from 6,500 to over 10,000 TPS, depending on the specific protocol used.

8. Avalanche

Avalanche, launched in 2020, is a blockchain network that leverages a consensus protocol called the Snow Protocol. This enables multiple parallel blockchains to work together, resulting in high transaction throughput. Avalanche has a theoretical maximum throughput of 4,500 TPS.

9. Flow

Flow, founded in 2019, is a specialized blockchain designed for non-fungible tokens (NFTs) and decentralized applications. It uses Cadence programming language and a multi-role consensus mechanism tailored for high-performance NFT transactions, reaching speeds of up to 10,000 TPS.

10. Celer Network

Celer Network, established in 2018, is a layer-2 scaling solution that enables scalable off-chain transactions for multiple blockchains, including Ethereum and Polygon. Celer can achieve millisecond-scale transaction confirmations and has demonstrated speeds of over 12,000 TPS in testing environments.