![]() This article is an extract from the 80+ page Scaling Report: Does the Future of Decentralized Finance Still Belong to Ethereum? co-published by the Crypto Research Report and Cointelegraph Consulting, written by ten authors and supported by Arcana, Brave, ANote Music, Radix, Fuse, Cryptix, Casper Labs, Coinfinity, Ambire, BitPanda and CakeDEFI. Assuming the upper bound of 90% votes, Solana would still process 200–300 TPS or 10x Ethereum at a fraction of the cost. Source: Twitterīefore comparing apples to apples, voting has to be factored out of transaction counts since Ethereum nodes don’t vote. Solana doesn’t have the same scalability issues thanks to its PoH protocol. Avalanche CEO Sirer weighs in on Solana’s transaction numbers. The average price per transaction is a little less than 1, but historically it has been as high as 70. Other blockchain projects have ridiculed Solana for its inflated numbers in the past. On Solana, 80%–90% of all transactions are used for voting and synchronization, so this number is misleading on its own. This number dwarves Ethereum’s 35 TPS by almost two orders of magnitude.įigure: Solana transaction breakdown Source: Solana Beach In terms of todays transaction speeds, 65,000 transactions per second is around 10,000 times faster than Bitcoin, 4,000 times faster than Ethereum, and 35. ![]() Actual transactions per second (TPS)īetween 2,000 and 3,000 TPS are conducted on the Solana network at the time of this report. In dollar terms, the average Solana transaction has cost $0.00025. We’ll cover just how much in the chapter on theoretical transactions per second.Ī look at network explorer Solana Beach reveals transactions cost between 5,000 and 10,000 lamports. Solana features a much higher transaction capacity than Ethereum. When demand for block space rises, the price to include a given transaction in a block appreciates accordingly. As with Ethereum, the actual fee is a function of supply and demand. Low fees are one of the existential selling points for Solana.
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