Solana’s Growth Surges with 30 Million Active Addresses and 65,000 Transactions per Second

• Solana’s network now boasts over 30 million active addresses, reflecting its expanding user base and growing adoption.
• The blockchain handles 65,000 transactions per second, supported by unique architectural innovations like Proof of History.
• Solana’s developer ecosystem thrives with over 1,000 active projects, contributing to its growing appeal in NFTs and DeFi.

Solana has achieved a new growth milestone, surpassing 30 million monthly active addresses. This surge demonstrates a rapid expansion in user activity since the blockchain’s mainnet launch in 2020. The growing user base underlines Solana’s increasing prominence within the digital landscape.

Expanding Network Capacity Supports Growth

A key factor in Solana’s rise is its focus on scalability. The network’s capacity has significantly grown, now supporting over 1,000 validators, up tenfold since its launch. Solana processes around 65,000 transactions per second, a remarkable improvement from its initial capacity. With block times reduced to just 400 milliseconds, the blockchain’s speed continues to advance, driven by its unique architecture, which integrates Proof of History and parallel processing.

Further developments, including tower BFT consensus and block propagation compression, aim to enhance scalability. These architectural choices have positioned Solana as a highly efficient blockchain platform, capable of handling substantial transaction volumes.

Increasing User Engagement on the Rise

User activity increase is yet another metric for Solana’s development. There has been a significant increase in on-chain transactions in terms of revenue, which reached over 10 billion US dollars quarterly one hundred times since the year 2020. This has been driven by the take up of DeFi protocols, NFT projects, and cross-chain bridges. Solana has made a name for itself for faster transactions at a cheaper rate attracting a big user base and enhancing the number of addresses.

Developer Ecosystem Drives Innovation

Another significant component of Solana’s growth is its developer ecosystem. The blockchain currently supports a wide range of more than a thousand projects that are active including those that involve decentralized finance(DeFi), Integral(V:90) NFTs, and Web3. The Phantom Wallet SDK, for example, has been successfully adopted, thus leading to an increase in developer activities and extension of the platform’s applications.