![]() ![]() These numbers certainly support the overarching objective of the Solana blockchain and its founder Anatoly Yakovenko, who wanted to allow transaction throughput to scale proportionately with network bandwidth while satisfying the core properties of a blockchain namely decentralisation, security and sustained scalability. Even established payment systems such as Visa can only process between 1,500 and 2,000 transactions per second, which is considerably lower than the existing performance of the SOL network. ![]() In terms of block times, the Bitcoin average is around 10 minutes (although this can vary significantly depending on overall demand), whereas the corresponding number for Ethereum is between 14 and 15 seconds overall. To put this into context, the average TPS completed on the BTC blockchain is approximately five, whereas Ethereum can handle roughly double that amount. Solana has definitely emerged as a high-performance blockchain since its inception in 2017, currently supporting an impressive 50,000 TPS (transactions-per-second) and 400ms block times. ![]() To this end, it’s a web-scale blockchain that provides incredibly fast and scalable transactions, while it also features an additional layer of functionality that supports decentralised apps and marketplaces. Like most third-generation blockchains, Solana has been primarily designed to tackle the issue of scalability associated with networks such as BTC. As of November 30th, 2020, there were more than 7,800 crypto-assets in existence, from first-generation market leaders like Bitcoin (BTC) to trail-blazing newcomers such as Solana (SOL). ![]()
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