It’s no secret that crypto users like to race and compare speeds, but such an evaluation is actually much more difficult than it sounds. To that end, an investigation by Dragonfly Capital’s GM and Haseeb Qureshi has delved into whether Solana could take over an Ethereum virtual machine. [EVM] compatible chain in a speed race.
By quickly cutting transaction-per-second rates, the two researchers decided to look at the speed of Automated Market Makers instead. [AMMs]† To refresh your memory, AMMs allow decentralized exchanges to function on their own and perform DeFi tasks.
thank god for you
By comparing Ethereum’s Uniswap V2, Celo’s Ubeswap, Avalanche’s Trader Joe, Polygon’s Quickswap, BSC’s PancakeSwap, and Solana’s Orca from Ethereum, the two researchers concluded that the winner was indeed Solana. However, keep in mind that the test took place on the Solana devnet, which is faster than the mainnet.
The final numbers were 273.34 Orca transactions per second, with 13 seconds to finality.
Source: GM at Medium.com
That said, there are some caveats. Removing Solana’s consensus messages from the transaction count, the report said:
“If you subtract that, you’re left with ~600 TPS, most of which are serum trades that are very cheap. As long as enough other contracts are touched, Solana can also achieve higher performance in production.”
Meanwhile, Ethereum’s Uniswap V2 averaged 9.19 transactions per second and a maximum of 18.38 transactions per second.
Fast and Furious: crypto drift
Readers may have strong reactions to the numbers above, but Qureshi advised caution as there are numerous ways to measure speed between blockchains. In addition, SMPs will ideally become faster.
13/ 3. Note that the spread in performance between chains is smaller than advertised. DYOR.
4. If you really want high performance, you should leave the EVM.
— Haseeb Qureshi (@hosseeb) March 1, 2022
But before Solana is crowned champion, it’s important for users to consider whether speed is the endgame. After all, the network is also known for its congestion problems. Plus, the same could hurt Solana’s adoption rate, if only slightly. Studying unique daily active signers, the OurNetwork newsletter reported,
“Unique signers peaked at 299k at the end of January, but declined slightly to 232k after the network’s most recent attack of degraded performance.”
A few expensive days
At the time of going to press, Ether changed hands for $2,903.67. This was after a drop of 3.64% in the past day and a rise of 23.02% in the past week. In the meantime, Solana’s SOL kept investors in suspense at $99.97, after falling 5.55% in the past 24 hours, after rising 23.23% in the past week.
This post Solana vs Ethereum? This is the winner when comparing AMM speeds
was published first on https://ambcrypto.com/solana-vs-ethereum-heres-the-winner-when-comparing-amm-speeds/
