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From Solana to Ripple, these fastest cryptocurrencies with exceedingly high TPS are going all out to prioritize scalability and speed above all else.

In this age of one-click shopping, we want everything now. We’ve become used to virtually instant fulfillment for everything, ranging from digital goods to ordering physical items online. The crypto space is no exception. Investors, developers and ordinary users find faster transaction times more desirable because they create a more satisfying user experience. As a result, speed is an essential benchmark for determining the potential of a crypto project.

This article will look at the transaction per second metric, how it affects the speed of a blockchain network, and the 11 fastest blockchains.

What Is TPS and How Is It Related to Blockchain Speed? 

Scalability is a hot topic in blockchain because insufficient scalability is a significant stumbling block on the way to broader adoption of blockchain technology.

The Pursuit of High Crypto Transaction Speed

A primary challenge for blockchain innovators has been maintaining high transaction speed, decentralization and security simultaneously, a problem termed the “blockchain trilemma” by Ethereum co-founder Vitalik Buterin.

Both the efficiency of a blockchain network and its overall optimal user experience rely on scalability. Hence, most recent projects tend to innovate various systems to increase their network's throughput and, therefore, put scalability ahead of decentralization and security. Still, several blockchain projects have made commendable attempts to solve the blockchain trilemma.

Blockchain developers have always struggled with consistently achieving the trio of decentralization, security and scalability. However, scalability is the most coveted because it holds the key to mass adoption of the technology. That said, here are eleven blockchains with some of the highest TPS. 

 A smart-chain-capable network, Fantom uses the directed acyclic graph (DAG), a distributed ledger technology made up of a computer network that executes transactions in parallel. To validate transactions, each computer in a DAG ”gossips" about its transactions to random neighboring computers, who repeat a similar action, spreading the transaction instantly across the entire network. This system is responsible for the Fantom network's high throughput and nearly indefinite scalability.

Designed with a focus on customization and interoperability, 

Network (ATOM) has the enviable reputation of being the 

Cosmos implements a (PoS) consensus and relies on a robust technology stack, consisting of:

Highly scalable, interoperable and smart contract capable, Cosmos has become popularwith developers who build powerful cross-chain DApps. Some of the more popular ones include 

The Cardano ecosystem hosts a wide range of DeFi and NFT applications, including SundaeSwap, a decentralized exchange, and MELD, a trustless lending protocol.

Currently, Cardano is developing a Layer 2 solution that will increase its throughput to about

1,000 TPS and reduce finality time to less than one second. This upgrade, when implemented, will place Cardano on a par with the most scalable blockchains. 

To achieve this Formula 1-like speed, EOS uses a delegated proof-of-stake (DPoS) consensus, which entails validators (called witnesses) reaching a consensus on the next validator to verify a transaction. Each witness's vote's strength is proportional to their stake. However, this unique voting system has led to allegations of centralization, since a few block producers hold most of the voting power.

With its super-fast speed and low fees, Polygon has attracted developers stung by Ethereum's high gas fees and low throughput. A growing number of high-profile gaming platforms, decentralized exchanges and DeFi applications have adopted the Polygon Network. 

Bitgert launched on February 14, 2022, making it the newest project on this list andpossibly the fastest. Bitgert handles a whopping 

. Coupled with this incredible speed, transaction fees on Bitgert are negligible, averaging $0.00000001.

Bitgert is built on the Binance Smart Chain (BSC) protocol and adopts a proof-of-authority (PoA) consensus used by BSC. The high throughput achieved by Bitgert is due to this consensus mechanism, which allows validators to stake their reputation instead of coins.

Without a doubt, Bitgert is the next big thing in the crypto industry. The project is on track for

exponential growth, due to its near-zero gas fees and lightning-fast transactions. Since its recent launch, it's already been hosting many projects in the NFT, DeFi, metaverse and DApp spaces. 

Speed is paramount in an age of instant gratification and short attention span, especially in financial transactions. However, recent events in the crypto space have shown that decentralization and security are equally vital.

Recent one occurring on May 1, 2022. Solana's network validators couldn’t create new blocks for over four hours, and applications on the Solana blockchain went offline. How did this happen?

With a throughput of 50,000 TPS and an average cost of $0.00025 per transaction, NFT and DeFi developers have been rushing to the Solana blockchain. The network experienced voluminous traffic, due to bots attempting to trade NFTs, which in turn overwhelmed the network’s nodes. And a “bug” was also cited as the cause of one of the earlier outages. These incidents specifically exposed the adverse impact of the network's trade-off, sacrificing security and stability in exchange for speed.

While transaction speed is important, security and decentralization are just as crucial. After all, they are the basis for the development of blockchain technology in the first place.

Transaction speed is an essential metric in the widespread use and adoption of blockchain technology. The blockchains listed above have demonstrated significant capacity for scalability, which is an important requirement for the blockchains of the future. However, the blockchains that will rule web 3.0 must maintain reasonable transaction speed without sacrificing security and decentralization.

11 Fastest Cryptocurrencies With Blockchains Boasting High TPS

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