February 27, 2023
Best Blockchain Performance: Results from Dartmouth Blockchain Study
Dartmouth Blockchain recently conducted a study into the performance metrics of some of the most popular blockchains, testing them in real-world environments. The study evaluated the performance of Ethereum, Polygon, Solana, Fantom, Avalanche, NEAR, FLOW, and SKALE blockchains based on two crucial metrics: Transactions Per Second (TPS) and Time To Finality (TTF). The study found that of the eight blockchains tested, SKALE was the best-performing blockchain, with a TPS of 397.7 and a TTF of 1.46 seconds.
Blockchain is one of the most revolutionary technologies of the digital age. It has the potential to change the way we think about transactions and data security, enabling decentralized systems that can be trusted without the need for intermediaries. As blockchain technology evolves, the demands for high-performing blockchains are growing, and this study aims to shed light on which blockchains are best suited for the demands of the real world.
Methodology and Metrics: TPS and TTF
This study gathered information on two key performance indicators: TPS and TTF. Transactions Per Second (TPS) measures the number of transactions a blockchain can process in a single second, while Time To Finality (TTF) measures the time taken by a blockchain to reach a consensus on a transaction. Both TPS and TTF are essential indicators of a blockchain’s performance, as they determine the speed, scalability, and efficiency of the blockchain.
To arrive at their results, the Dartmouth Blockchain team utilized a combination of hardware, software, and network resources to test each of the eight popular blockchains in real-world environments. The blockchains were tested under a variety of conditions, including different transaction sizes, numbers of transactions, and network conditions.
Results and Key Findings
The results of the study showed that SKALE was the best-performing blockchain, with a TPS of 397.7 and a TTF of 1.46 seconds. From the data provided, SKALE is the clear winner in terms of Transactions Per Second (TPS). SKALE performed the best with a score of 397.7 TPS, while Solana came in second with 375.31 TPS. The remaining platforms showed drastically lower scores, with Flow, Avalanche, Polygon, Ethereum and NEAR following SKALE and Solana.
When it comes to the Time To Finality (TTF) metric, SKALE narrowly edged out Fantom, with scores of 1.46 seconds and 1.76 seconds, respectively. Avalanche, NEAR, Solana, Polygon and Ethereum show lower scores, with Polygon and Ethereum having the longest TTF of 4 minutes and 45 seconds and 17 minutes and 5 seconds, respectively.
It is important to note that SKALE network currently has 19 individual, interoperable Ethereum Virtual Machine (EVM) blockchains, each of which has an individual capacity of 397.7 transactions per second (TPS). When all of these chains are combined, the performance of the entire SKALE network is 7,556.3 TPS.
Conclusion and Future Implications
The study’s findings have significant implications for the future of blockchain technology. The high level of performance demonstrated by SKALE shows that it is well-suited for a wide range of Web3 use cases, such as decentralized finance, gaming, NFTs and enterprise-specific chains. The study’s results also demonstrate the potential for other blockchains to improve their performance, as they aim to meet the growing demands of the market.
It is important to note that the results of this study provide a snapshot of the performance of the different blockchains at a particular point in time. The performance of a blockchain can change over time, and different blockchains may perform better in different scenarios.
Nevertheless, the results of this study provide valuable insights into the performance of some of the most popular blockchains, and can be useful for individuals and organizations looking to deploy blockchain solutions for their specific use cases.
For more information on SKALE
SKALE is an Ethereum native, modular blockchain network composed of high-throughput, low-latency blockchains that are optimized for Web3 user experience. SKALE chains offer zero gas fees to end-users and have advanced features such as on-chain file storage, interchain messaging, zero-cost minting, ML/AI smart contracts, and enhanced security features.
The SKALE network enables developers to deploy their own EVM blockchain in minutes without sacrificing speed, security, or decentralization. Welcome to the SKALEverse.