{"id":212289,"date":"2022-01-19T20:00:12","date_gmt":"2022-01-19T20:00:12","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=212289"},"modified":"2022-01-20T07:33:35","modified_gmt":"2022-01-20T07:33:35","slug":"not-so-fast-are-eth-killers-as-speedy-as-they-claim","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/not-so-fast-are-eth-killers-as-speedy-as-they-claim\/","title":{"rendered":"Not so fast, are \u201cEth killers\u201d as speedy as they claim?"},"content":{"rendered":"<p>For a few years, Ethereum reigned alone as the only realistic smart contract blockchain on the planet. Those using the blockchain or developing applications for it, had little choice but to accept the technical properties and characteristics of the <a href=\"https:\/\/cryptoslate.com\/news\/ethereum\/\">Ethereum<\/a> system. But at least Ethereum was a technical leap forward from <a href=\"https:\/\/cryptoslate.com\/news\/bitcoin\/\">Bitcoin<\/a>, and considerably faster, even though it was, and still is, a magnitude more complex.<\/p>\n<p>Performance is seldom enough, and the more users and applications came to Ethereum, the more it became evident that the throughput of the blockchain wasn\u2019t going to be nearly as sufficient as it takes to power millions of applications and users.<\/p>\n<h2>Five \u201cEth-killer\u201d average TPS over 30 days<\/h2>\n<p>This is, of course, the main driving force behind all the so-called Eth-killers \u2013 competing layer-1 blockchains that focus on better performance, in terms of price and throughput, than can be found on Ethereum layer-1. The emphasis on layer-1 is important because the response from the Ethereum ecosystem is to develop<a href=\"https:\/\/cryptoslate.com\/theres-over-4-2-billion-locked-in-ethereum-layer-2-protocols\/\"> layer-2<\/a> blockchains that vastly improves on the performance side of the user experience.<\/p>\n<p>In this article, we analyze five Eth-killers \u2013 Avalanche, Binance Smart Chain BSC, Fantom, Polygon and Solana \u2013 and calculate the average transactions per second tps metric over a 30-day period, and compare the results with the TPS of Ethereum.<\/p>\n<p>To do the calculations, we\u2019re using data from block explorers for each blockchain. We calculate the average number of calculations per day, and divide that number with 86,400, the number of seconds per day, to give us the number of transactions per second.<\/p>\n<figure id=\"attachment_212293\" aria-describedby=\"caption-attachment-212293\" style=\"width: 2732px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-212293 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Avalanche.png\" alt=\"Avalanche C-Chain Daily Activity Transactions - Source, snowtrace.io\" width=\"2732\" height=\"1186\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Avalanche.png 2732w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Avalanche-300x130.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Avalanche-1024x445.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Avalanche-768x333.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Avalanche-1536x667.png 1536w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Avalanche-2048x889.png 2048w\" sizes=\"(max-width: 2732px) 100vw, 2732px\" \/><figcaption id=\"caption-attachment-212293\" class=\"wp-caption-text\">Avalanche C-Chain Daily Transactions &#8211; Source: snowtrace.io<\/figcaption><\/figure>\n<p>Avalanche, whose technology is built on the Ethereum Virtual Machine EVM, produced the first block on the 24th of September 2020. The system's popularity really took off in mid August almost a year later. According to the <a href=\"https:\/\/cryptoslate.com\/blockchain\/avalanche\/\">Avalanche<\/a> project\u2019s official <a href=\"https:\/\/www.avax.network\/\">website<\/a>, the network can push more than 4500 transactions per second. Our calculations, however, show that the average number of transactions per second, over the past 30 days, is 8.21 tps.<\/p>\n<h2>BSC almost delivers what is promises<\/h2>\n<p>The second Eth-killer in our analysis is <a href=\"https:\/\/cryptoslate.com\/companies\/binance\/\">Binance<\/a> Smart Chain, BSC, which also builds on the Ethereum EVM. According to <a href=\"https:\/\/www.binance.org\/en\/smartChain\">Binance<\/a> the blocktime of BSC is around three seconds, which means the blockchain should be able to handle about 160 tps. The actual average throughput over the past 30 days come pretty close to the official figure, as we calculated the average to be 70 tps.<\/p>\n<figure id=\"attachment_212294\" aria-describedby=\"caption-attachment-212294\" style=\"width: 2730px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-212294 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/BSC.png\" alt=\"Binance Smart Chain Daily Activity Transactions - Source: snowtrace.io\" width=\"2730\" height=\"1182\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/BSC.png 2730w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/BSC-300x130.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/BSC-1024x443.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/BSC-768x333.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/BSC-1536x665.png 1536w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/BSC-2048x887.png 2048w\" sizes=\"(max-width: 2730px) 100vw, 2730px\" \/><figcaption id=\"caption-attachment-212294\" class=\"wp-caption-text\">Binance Smart Chain Daily Transactions &#8211; Source: snowtrace.io<\/figcaption><\/figure>\n<p>Fantom is a \u201cfast, high-throughput open-source smart contract platform for digital assets and dApps,\u201d according to the project's <a href=\"https:\/\/fantom.foundation\/\">website<\/a>. The blockchain is said to be capable of 4000 tps, but our analysis shows that <a href=\"https:\/\/cryptoslate.com\/the-key-drivers-behind-fantoms-recent-price-rally\/\">Fantom<\/a> delivered on average 13 transactions per second over the past 30 days.<\/p>\n<figure id=\"attachment_212295\" aria-describedby=\"caption-attachment-212295\" style=\"width: 2732px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-212295 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Fantom.png\" alt=\"Fantom Daily Transactions - Source: snowtrace.io\" width=\"2732\" height=\"1186\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Fantom.png 2732w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Fantom-300x130.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Fantom-1024x445.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Fantom-768x333.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Fantom-1536x667.png 1536w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Fantom-2048x889.png 2048w\" sizes=\"(max-width: 2732px) 100vw, 2732px\" \/><figcaption id=\"caption-attachment-212295\" class=\"wp-caption-text\">Fantom Daily Transactions &#8211; Source: snowtrace.io<\/figcaption><\/figure>\n<p>The fourth \u201cEth-killer\u201d in our analysis and comparison is Polygon, which is a so-called side chain to Ethereum. It would be a bit exaggerated to call <a href=\"https:\/\/cryptoslate.com\/news\/polygon\/\">Polygon<\/a> an Eth-killer as the project is closely associated with Ethereum. Polygon\u2019s technology builds on the Ethereum EVM, and in parallel to the Polygon side chain, Polygon is also developing and <a href=\"https:\/\/cryptoslate.com\/polygon-reveals-acquisition-of-zk-proofs-project-mir-in-500-million-deal\/\">acquiring<\/a> Ethereum layer-2 blockchains.<\/p>\n<figure id=\"attachment_212296\" aria-describedby=\"caption-attachment-212296\" style=\"width: 2722px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-212296 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Polygon.png\" alt=\"Polygon PoS Chain Daily Transactions - Source: snowtrace.io\" width=\"2722\" height=\"1174\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Polygon.png 2722w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Polygon-300x129.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Polygon-1024x442.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Polygon-768x331.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Polygon-1536x662.png 1536w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Polygon-2048x883.png 2048w\" sizes=\"(max-width: 2722px) 100vw, 2722px\" \/><figcaption id=\"caption-attachment-212296\" class=\"wp-caption-text\">Polygon PoS Chain Daily Transactions &#8211; Source: snowtrace.io<\/figcaption><\/figure>\n<h2>No 30-day data from Solana<\/h2>\n<p>The Polygon network is said to be able to process 6500 to 7200 transactions per second. Our analysis shows that the actual average throughput over the past 30 days was 53 transactions per second.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-212297 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ska\u0308rmavbild-2022-01-19-kl.-15.24.11.png\" alt=\"\" width=\"2198\" height=\"458\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ska\u0308rmavbild-2022-01-19-kl.-15.24.11.png 2198w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ska\u0308rmavbild-2022-01-19-kl.-15.24.11-300x63.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ska\u0308rmavbild-2022-01-19-kl.-15.24.11-1024x213.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ska\u0308rmavbild-2022-01-19-kl.-15.24.11-768x160.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ska\u0308rmavbild-2022-01-19-kl.-15.24.11-1536x320.png 1536w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ska\u0308rmavbild-2022-01-19-kl.-15.24.11-2048x427.png 2048w\" sizes=\"(max-width: 2198px) 100vw, 2198px\" \/><\/p>\n<p>Solana is perhaps the most killing of all Eth-killers; the network has become exceptionally popular among NFT collectors. The Solana blockchains boast a throughput as high as 50,000 tps. In the case of <a href=\"https:\/\/cryptoslate.com\/companies\/solana\/\">Solana<\/a> we have not been able to download data for a 30 day period. The different Solana block explorers show live transaction statistics, accumulated transactions and current throughput. These statistics show that the Solana system processes around 1500 to 2500 tps, which is good but nowhere near 50,000 tps.<\/p>\n<p>What about Ethereum then? Well, The original smart contract platform says it can process 14 transactions per second, and it delivers 14 transactions per second. It is, in fact, working at its peak all the time, and has done so for a long time.<\/p>\n<figure id=\"attachment_212298\" aria-describedby=\"caption-attachment-212298\" style=\"width: 2728px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-212298 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ethereum.png\" alt=\"Ethereum\u00a0Daily Transactions - Source: snowtrace.io\" width=\"2728\" height=\"1180\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ethereum.png 2728w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ethereum-300x130.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ethereum-1024x443.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ethereum-768x332.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ethereum-1536x664.png 1536w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/Ethereum-2048x886.png 2048w\" sizes=\"(max-width: 2728px) 100vw, 2728px\" \/><figcaption id=\"caption-attachment-212298\" class=\"wp-caption-text\">Ethereum\u00a0Daily Transactions &#8211; Source: snowtrace.io<\/figcaption><\/figure>\n<p>It may be argued that the \u201cEth-killers\u201d, except perhaps Solana, are not working at their respective maximum capacity. But that can hardly be the case with Avalanche and BSC \u2013 these are increasingly popular ecosystems with many applications and a lot of users.<\/p>\n<h2>Throughput not the same as good user experience<\/h2>\n<p>It should also be pointed out that transaction throughput is not the same as fast finality \u2013 the latter, time to finality or TTF, being much more important to the user experience. As an example, though Avalanche processed on average 8.21 transactions per second, and Ethereum processed 14, TTF on Avalanche is less than a second, and beyond 20 seconds on Ethereum.<\/p>\n<p>Are \u201cEth-killers\u201d faster than Ethereum? Yes, especially when it comes to user experience, not to mention network fees, however perhaps we should stop staring at promised performance figures and start looking at real performance and user experience.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For a few years, Ethereum reigned alone as the only realistic smart contract blockchain on the planet. Those using the blockchain or developing applications for it, had little choice but to accept the technical properties and characteristics of the Ethereum system. But at least Ethereum was a technical leap forward from Bitcoin, and considerably faster, [&hellip;]<\/p>\n","protected":false},"author":962,"featured_media":212290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,37],"tags":[77115,72190,77282,77280,76918,75380,77281],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Not so fast, are \u201cEth killers\u201d as speedy as they claim?<\/title>\n<meta name=\"description\" content=\"So-called \u201cEth-killers\u201d, Layer-1 blockchains competing with Ethereum, are supposed to be much faster and much cheaper. While this is true for fees, are Eth-killers really as fast as they claim to be?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/not-so-fast-are-eth-killers-as-speedy-as-they-claim\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Not so fast, are \u201cEth killers\u201d as speedy as they claim?\" \/>\n<meta property=\"og:description\" content=\"So-called \u201cEth-killers\u201d, Layer-1 blockchains competing with Ethereum, are supposed to be much faster and much cheaper. While this is true for fees, are Eth-killers really as fast as they claim to be?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/not-so-fast-are-eth-killers-as-speedy-as-they-claim\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-19T20:00:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-20T07:33:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/ethereum-killer.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laszlo Dobos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Laszlo Dobos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/not-so-fast-are-eth-killers-as-speedy-as-they-claim\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/not-so-fast-are-eth-killers-as-speedy-as-they-claim\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/#person\",\"name\":\"Laszlo Dobos\",\"url\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/12\/lars-dobos-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/12\/lars-dobos-author-300x300.jpg\",\"caption\":\"Laszlo Dobos\"},\"jobTitle\":\"Reporter\",\"description\":\"Educated in computer engineering, Laszlo began developing an interest for crypto and blockchain technology back in 2013. Lars started writing about IT and IT...\",\"worksFor\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"sameAs\":[\"https:\/\/x.com\/larsdobos\",\"https:\/\/www.linkedin.com\/in\/lars-dobos-26356a3\"]},\"headline\":\"Not so fast, are \u201cEth killers\u201d as speedy as they claim?\",\"datePublished\":\"2022-01-19T20:00:12+00:00\",\"dateModified\":\"2022-01-20T07:33:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/not-so-fast-are-eth-killers-as-speedy-as-they-claim\/\"},\"wordCount\":888,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"keywords\":[\"BSC\",\"ethereum\",\"fantom\",\"performance\",\"Polygon\",\"Solana\",\"throughput\"],\"articleSection\":[\"Analysis\",\"Technology\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cryptoslate.com\/not-so-fast-are-eth-killers-as-speedy-as-they-claim\/#respond\"]}],\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptoslate.com\/not-so-fast-are-eth-killers-as-speedy-as-they-claim\/\",\"url\":\"https:\/\/cryptoslate.com\/not-so-fast-are-eth-killers-as-speedy-as-they-claim\/\",\"name\":\"Not so fast, are \u201cEth killers\u201d as speedy as they claim?\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/#website\"},\"datePublished\":\"2022-01-19T20:00:12+00:00\",\"dateModified\":\"2022-01-20T07:33:35+00:00\",\"description\":\"So-called \u201cEth-killers\u201d, Layer-1 blockchains competing with Ethereum, are supposed to be much faster and much cheaper. 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