An experiment from Dragonfly Research that distinguished the accomplishment of six blockchains by testing the ability of Automated Market Makers (AMMs) on each has found Solana’s Orca decentralized exchange (DEX) was the apparent winner in trades per second. It governed 273.34 trades per second and established a fresh block every 590 milliseconds. BNB Smart Chain was not far behind with 194.6 trades per second on PancakeSwap, pursued by Polygon, Avalanche, Celo and then the Ethereum.
Dragonfly Research is the research wing of Dragonfly Capital and its portfolio page indicates that it has financed in Celo, Avalanche, Cosmos and Near but not financed in Solana. In a blog post, the researcher, GM, presumed that with time layer-1 blockchains will exceed EVM-compatible chains and he wrote that Ethereum is the MS-DOS of smart contract operating networks. EVM chains blockchains that are consistent with Ethereum tooling. They frequently help in the scalability of the Ethereum web. Uniswap v2 was utilized as the benchmark, provided it is the prominent DEX with $1.6 billion in 7-day transaction percentage. The directing DEX on each blockchain tested was spammed with token exchanges on the most liquid pairs to determine the new limit of their capacity.
The reports submitted that Solana’s sooner performance supporters of decentralization indicate other problems of Solana. The team from Spookyswap DEX criticised the findings saying that Solana is a centralised network not like Ethereum. Spookyswap further added that Solana can be turned off and has a past of plunging. But that doesn’t happen with proper EVM layer-1 chains. He also surmised that there was a maximum 25x difference between Ethereum and Solana, indicating that in widespread, nobody is getting that extraordinary performance from linear token transactions on-chain.
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