According to a recent CoinGecko analysis, Solana is leading the blockchain network speed race. This surge is largely due to a significant increase in meme coin activity within the Solana ecosystem.
Solana has demonstrated its potential for even greater speeds, currently operating at only 1.6% of its theoretical maximum of 65,000 TPS.
The report highlights that Solana has reached a daily rate of 1,504 TPS (Transactions Per Second). This remarkable speed makes Solana stand out, as it processes transactions nearly 46 times faster than Ethereum and about 5 times faster than Polygon, previously the leader among Ethereum scalable alternatives.
While the rise of meme coins poses security concerns, it is crucial to increase investor monitoring and implement robust security measures to prevent fraudulent schemes in the volatile meme coin environment.
However, security researcher ZachXBT discovered that developers of 12 meme coin projects on Solana abandoned their projects immediately after the ICO, resulting in losses for investors.
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