The Solana network achieved a remarkable technical milestone after temporarily surpassing the threshold of 100,000 transactions per second on its mainnet, according to 'Mert Mumtaz', co-founder of Helius.
One block managed to process 43,016 successful transactions, raising the total transaction speed to about 107,540 transactions per second.
However, it is important to note that most of these transactions were not token transfers or actual trades, but rather simple test commands known as 'noop'. These lightweight instructions are typically used to test the network's capacity, but they do not reflect the volume of actual daily activity such as payments or complex applications.
Despite this achievement, the actual transaction rate of the network remains around 3,700 transactions per second according to Solscan data, noting that two-thirds of these operations are essentially votes issued by validators. The actual transaction rate for users is closer to 1,050 transactions per second when excluding consensus activity.
On the other hand, the largest activity on Solana still comes from meme coins, with the Pump.fun platform accounting for about 62% of the total value locked. In contrast, the decentralized finance (DeFi) ecosystem on Solana has seen significant growth, bringing the total value locked to $10.7 billion, approaching the all-time high recorded in January, while the coin is trading around $187.
