Introduction

Transactions per second (TPS) is one of the crucial metrics for evaluating a blockchain network. Blockchain as an alternative to centralized traditional platforms should be competitive in terms of transaction speed. Bitcoin, as a leading blockchain, has about 5 TPS, while for instance master card as a traditional solution has experienced about 5,000 transactions per second.

Many blockchain projects so far have attempted to provide high TPS and fix the low TPS shortcoming of decentralized solutions. Among them, the Solana Blockchain is the most promising.

This dashboard investigates the actual TPS that Solana has experienced in February 2022.

Analysis

The graph below shows the average actual TPS per day on Solana blockchain.

Actual TPS is measured as the number of (non-vote) successful transactions per day divided by 86400 seconds (24h * 60m * 60s).

The highest and lowest daily TPS are 566 and 456 respectively.

Interestingly, the data shows that the TPS in the weekends are at the same level and in overall is less than weekdays, in February. The highest TPS experienced is for Monday February 7th.

To better understanding of TPS fluctuations. The TPS has been broken down into hours. The data below shows the average TPS in exact hour over February 2022.

As can be seen, in average at 7:00 am the Solana blockchain experience the highest TPS and at 16.00 the lowest TPS.

Discussion

The Solana blockchain TPS, in February, ranged between 566 and 456. The average TPS that has been experienced is 480.

Obviously, the TPS ranges that were presented here are different from TPS that theoretically Solana is capable to achieve. The transactions that are recorded reflects more the demand of Solana rather than its capability.

To have better idea about the capability we should look into the times that the Solana blockchain were not able to handle the spark of transactions.

The graph below shows the hourly fluctuation of the Solana TPS. As can be seen at 7.00 is in almost all days are among the highest. On the hand, 16.00 is the time that can be seen in most days is among the lowest TPSs. However, taking into account an outlier which is February 6th and the considerably low TPS at 16.00 which may have a big impact on average, we should consider at 22.00 as the lowest TPS time as well.