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How Solana uses Vote and Compute Budget transactions to inflate its throughput and revenue metrics. Only 5-10% of Txs on Solana are true transactions.

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How Solana uses Vote and Compute Budget transactions to inflate its throughput and revenue metrics. Only 5-10% of Txs on Solana are true transactions.

We often see media articles about Solana setting records for throughput and fee revenue, but this is extremely misleading since 90-95% of transactions are not real transactions.

The true TPS for Solana is about 250-300 TPS due to the vast majority of transactions just being vote and helper function transactions spamming the network.

The Solscan and Solana.fm blockchain explorers show total TPS at ~4000 TPS with non-vote TPS at around 1200 TPS. In addition, the majority of the remaining non-vote transactions are Compute Budget transactions like SetComputeUnitLimit and SetComputeUnitPrice.

If we subtract those Compute transactions, the real True TPS is actually closer to about 250 TPS. In fact, over 90% of transactions on Solana would never even be counted as real transactions on other blockchains. These vote and compute transaction inflate both the throughput and fee revenue metrics of Solana. The vast majority of Solana fees are just validators paying other validators to vote on consensus and users setting transaction fees.

From recent xxx042069 blocks:

Block Num Date Total Tx Vote Tx Compute Tx % True Tx
280042069 2024-07-27 1603 1317 269 1.1%
290042069 2024-09-16 1550 1136 388 1.7%
300042069 2024-11-07 1583 1257 237 5.6%
310042069 2024-12-27 1284 737 360 14.6%
312042069 2025-01-05 1922 1348 503 3.7%
313042069 2025-01-10 488 18 335 27.7%
314042069 2025-01-15 1164 810 277 6.6%
315042069 2025-01-15 2049 1386 658 0.2%
316042069 2025-01-24 1746 1304 368 4.2%
317042069 2025-01-29 1675 1058 459 9.4%
318042069 2025-02-02 1868 1355 404 5.8%
319042069 2025-02-07 1750 1308 412 1.7%
320042069 2025-02-11 1824 1367 415 2.3%
321042069 2025-02-16 1868 1329 404 7.2%
Average - 1598 1124 392 6.6%

That's right. Only 6.6% of transactions on average are real transactions.

Many of you are already familiar with vote transactions. But what are Compute Budget transactions?

  • SetComputeUnitLimit sets the gas usage limit of a transaction
  • SetComputeUnitPrice sets the priority fee for a transaction

On any other blockchain, you wouldn't need to create an extra transaction just to set the gas limits or priority fees for a transaction. It's a built-in part of the original transaction. That's why I wouldn't consider these true transactions.

Besides Compute Budget transactions, there are also other helper functions like "System Program" transactions and "Associated Token Account Program" transactions, many of which probably shouldn't be considered useful true transactions either.

Data from recent xxx042069 blocks

submitted by /u/HSuke
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