Solana TPS
One of Solana's main features is its speed compared to other blockchains. Blockchain performance is usually measured in Transactions per Second (TPS). Measure the TPS of Solana in February (non votes) and 'Successful TPS' per day and create a chart showing how TPS has fluctuated during that time period.
Introduction
Solana is ine of the blockchain ecosystems that increase more during the past year. It has become one of the viable alternatives to Ethereum in recent months, being described as Ethereum killer. Why? Because solana claims to have the solution for Ethereum issues.
Any network with lower gas fees and faster transaction speeds will address the primary problems of Ethereum. But Solana went one step further by claiming that it could theoretically perform 710,000 transactions per second (TPS).
On Solana, transactions can be classified into successful transactions, failed transactions, vote transactions, and non-vote transactions.
In this dashboard, we will analyze the TPS of non-vote transactions that don’t interact with the voting program. They include transactions involving dApps on Solana. As well, we will do the same for the succeeded transactions, which refer to the transactions that the validators successfully validated. To finally determine if the Solana TPS is good or not, we will compare with Ethereum TPS.
Methodology
To carry out the task, we will need to go through Solana Transactions table. This table contains all non-vote trandactions, thus, we will only need to compute how many transactions are done per second, truncating the block_timestamp variable. Finally, for the succeeded transactions, we will need to do the same but filtering for the status of transaction as SUCCEEDED. The same proedure have been made for Ethereum transactions, taking into account transactions from Ethereum.Transactions table.
Results
First of all, to analyze the non-vote transactions TPS, I have computed the daily average transactions since Feburary 1st. There have been around 55k transactions per second during this time of period. However, during the last week, the number of transactions dropped below 40M transactions a day.
This, translated into transactions per second, is equivalent to an average of around 650 TPS during this first period, and around 500 TPS for the last week.
On the other hand, for the successful transactions, there were around 45M of daily transactions during the first period mentioned before, and for the last week around 35M. The drop occurred as well for successful transactions.
Thus, in terms of TPS, Solana have proceed around 500 successful TPS during the first period of February and around 400 for the last week days. Then, the ratio of successful to unsuccessful transactions is 5:1 approximately.
Conclusion
To conclude, we have seen a new important metric: the transactions per second (TPS) which is related to the amount of trasnsactions a blockcain can proceed and its about the congestion of the network, one of the problems of Ethereum network. As we can see, Solana are proceeding around 600 TPS being 500 the successful ones.
We have also compared the Solana TPS with Ethereum TPS and it has been concluded that the Solana TPS is so higher compared to the Ethereum ones. This shows the efficiency of Solana Proof of History consensus mechanism when compared to a common model. It could explain why right now, there are more Dapps and NFT projects joining Solana network.
The chart below shows the transactions per second in Ethereum network. We can see how the TPS has been around 13.5 during the February month, and the succeeded TPS around 13. In this case, the succeeded ratio is higher, however, we can see how the TPS in both case is much lower. In fact, the Solana TPS is around 5000% higher than Ethereum TPS, then, the dimension is important.