With the new upgrade, Algorand now has >6 the smart contract throughput of any other top smart contract platform (SOL/AVAX/BSC/MATIC/CELO/ETH measured)

I think we can all agree that tps numbers can be hard to compare between chains. Some chains can pin 10000s of native token transfers, but things get weird when you start to compare smart contracts.

I posted about this metric in the Algorand subreddit for determining throughput of different blockchains in the fairest way possible. That is using an AMM “uniswap-style” swap as the benchmark.

The authors of the medium article linked in my original post tested the smart contract throughput of some of the top smart contract platforms empirically, and they found that these chains to have the following AMM-swap tps limits:

• Solana Mainnet Orca - 273 swaps
• BSC pancakeswap - 195 swaps
• Polygon quickswap - 95 swaps
• Axax Trader Joe - 176 swaps
• Celo Ubeswap - 50 swaps
• Ethereum uniswap v2 - 18 swaps

Now Algorand can handle 1625 AMM swaps per second on Tinyman.

For reference that is:

• 6.0x more than Solana
• 8.3x more than Binance
• 9.2x more than Avalanche
• 17x more than Polygon
• 32.5x more than Celo
• 90.3x more than Ethereum

Algorand can now do more than all of these chains combined

Algorand's new upgrade reduced block times from ~4.5s to ~3.8s per block, and there has already been a block with 25k transactions in it on the mainnet which translates to approximately 6500 tps.

Thanks to the insight of /u/abeliabedelia, based on the opcode budget limit for each transaction, it was determined that a tinyman swap requires 4 transactions, which means that Algorand’ TPS divided by 4 is approximately equal to its ability for smart contracts per second. (6500/4) = 1625 swaps per second.

And a special thanks to /u/sdcvbhjz for actually empirically checking and confirming the transaction count to be 4 standard transactions for each tinyman swap.

Edit: added words