Recently, the crypto community has been fighting over transactions per seconds (TPS), a number that’s used abstractly to measure a blockchain throughput. Solana has a much higher transaction per second (TPS) than Ethereum, its biggest rival.
Firedancer, the high-performance client developed by Jump Crypto to extend Solana’s TPS advantage, entered its testing phase, sparking a recent round of social media buzz. Jump Chief Scientist Kevin Bowers announced in Solana Breakpoint that Firedancer reached 1 million TPS during synthetic testing.
The crypto VC posted a message about Solana’s shipping. “1m tps client” While the Ethereum community was consumed by archaic discussions about “whether eth is money,” And the engagement lure went in hook,line,and sinker.
Namik Muduroglu posted a GitHub screen shot noting that Solana is currently restricted to 81,000 transactions per second (TPS) at maximum. MegaETH block times will be faster than Solana’s meaning transactions can be processed milliseconds sooner.
Solana responded, saying that 81,000 TPS could be modified and that MegaETH was, to paraphrase Chris Brown: hating on the outside. [existent blockchain] club.
As an idea, TPS is pretty easy to grok — how many transactions can a blockchain process every second? The number one million may seem like a large and round figure, but in reality, it is not that simple.
TPS can be a goal. Firedancer achieved 1,000,000 TPS in testing, but without any actual transactions. Media coverage also came from the unreleased Monad blockchain and Layer N for TPS figures that were in testing.
The TPS for Solana will be heavily impacted by if you include “vote” Transactions that are generated by validators as they process blocks. To this point, developer João Mendonça pointed out to me that TPS can measure a blockchain’s demand and capacity. Vote transactions don’t demonstrate demand, but they do show capacity, Mendonça argued.
It is not the same as block times which are used to measure how fast blocks are generated. The Solana Foundation claims that Solana has a block time of 400 ms. This figure can be improved with faster hardware. Muduroglo said MegaETH wanted to get block times as close to 10 ms.
TPS is also based on the assumption that transactions are in demand. Nick Ducoff, institutional head of the Solana Foundation on X told me that higher TPS was meaningful in use cases like high-frequency trading. This type of algorithmic trading involves making tons of trades very quickly.
This comports with Solana’s vision for a decentralized Nasdaq — but that would require many more firms deciding they want to do such business onchain.
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