Fastest Cryptocurrencies With High Transaction Speeds (TPS)

In the fast-paced world of cryptocurrencies, transaction speed and low fees are crucial for efficiency and adoption. Transactions Per Second (TPS) measure a blockchain's speed and efficiency. Higher TPS indicates faster processing and better scalability, a key challenge in blockchain technology.

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Below is a table of cryptocurrencies with fast transaction speeds:

Let's explore the assets and factors contributing to their fast transaction per second (TPS) rates.

1. Solana (SOL) - 65,000+ TPS

Launched in March 2020, Solana stands out with a theoretical maximum capacity of 65,000 transactions per second.

This impressive processing speed is achieved through innovative technologies like Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus mechanisms.

PoH allows the network to verify transaction orders without relying on timestamps, significantly boosting efficiency.

Solana's high speed and low latency make it ideal for applications requiring real-time processing, such as decentralized finance (DeFi) and blockchain-based games.

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2. Polygon (MATIC) - 65,000 TPS (On Sidechain)

Polygon stands out by operating as a 'sidechain' to Ethereum, leveraging a PoS consensus mechanism to achieve an impressive 65,000 transactions per second, similar to Solana's capacity.

This creative solution harnesses Polygon's lightning-fast speed with the security of the established Ethereum network, making it appealing for developers seeking a scalable and secure platform for building decentralized applications.

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3. Cosmos (ATOM) - 10,000+ TPS

Cosmos exhibits a modular architecture that allows individual blockchains built on its network (called "hubs" and "zones") to customize their transaction throughput. This flexibility allows certain zones to achieve high performance, potentially processing up to 10,000 transactions per second.

Cosmos uses the Tendermint Byzantine Fault Tolerance (BFT) consensus mechanism, which streamlines block validation for rapid transaction processing.

The Inter-Blockchain Communication (IBC) protocol enables seamless communication and asset transfer between zones.

Cosmos achieves its high speed through a PoS consensus process, eliminating the need for energy-intensive mining in Proof of Work (PoW) systems.

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4. Algorand (ALGO) - 6,000 TPS

Developed in 2017 by MIT Professor Silvio Micali, Algorand offers a remarkable 6,000 TPS capability.

This speed was achieved after a platform upgrade in June 2021, which boosted its original 1,000 TPS by fivefold.

Algorand uses a unique Pure Proof-of-Stake (PPoS) mechanism, confirming and irreversible transactions as soon as they're included in a block.

This feature is particularly attractive for applications requiring real-time settlements and low latency.

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5. Avalanche (AVAX) - 4,500 TPS

Avalanche was launched in September 2020 and is designed for fast transactions and low costs. It uses the Avalanche Consensus Protocol (ACP) to handle around 4,500 transactions per second.

Avalanche creates mini-networks on the fly to reach consensus, effectively running operations in parallel. Its low transaction fees make it a top choice for small payment users.

Related: The cheapest cryptos to transfer between wallets.

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6. EOS - 4,000 TPS

EOS, launched in 2018, is designed to provide a fast and scalable infrastructure for decentralized applications (dApps).

The blockchain uses a delegated proof-of-stake (DPoS) consensus algorithm, enabling a peak transaction speed of around 4,000 TPS.

In this system, block producers are elected by the EOS community to validate transactions and add them to the blockchain, resulting in a fast and efficient transaction processing system.

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7. Fantom (FTM) - 2,500+ TPS

Fantom enables 2,500 TPS using its innovative "Lachesis" system, a Directed Acyclic Graph (DAG) that operates like a complex web of transactions.

Each transaction points to the ones it validates, allowing for parallel processing. Fantom also uses Asynchronous Byzantine Fault Tolerance (aBFT) to ensure security and prevent foul play.

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8. Tron (TRX) - 2,000 TPS

TRON aims to create a decentralized digital entertainment ecosystem. It uses a delegated proof-of-stake consensus mechanism and claims a transaction speed of approximately 2,000 TPS.

This high speed is achieved through optimizations, including a high-bandwidth network and a fast block time of just three seconds.

TRON also supports smart contracts written in Solidity, making it easy for developers to port Ethereum smart contracts to the platform.

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9. Helium (HNT) - 1,000+ TPS

Helium focuses on transferring data for Internet of Things (IoT) devices, offering a transaction speed of 1,000 TPS.

Devices on the Helium network spread their data packets amongst each other.

While this TPS might seem low compared to other blockchain platforms, Helium's optimized architecture makes it an essential player in building a scalable and efficient network for the growing IoT ecosystem.

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10. Cardano (ADA) - 1,000 TPS

Cardano was launched in 2017 by American entrepreneur and blockchain engineer Charles Hoskinson.

This blockchain can process more than 1,000 TPS, achieved through its unique Ouroboros consensus algorithm, which uses a Proof-of-Stake (PoS) approach.

This enables faster transaction processing and higher transaction throughput than older blockchain platforms.

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