A recent social media post by Solana sparked a fresh wave of debate in the crypto community, pitting the speed of the Solana network against the trade throughput of Nasdaq. The post, made on August 9, highlighted the disparity between Ethereum’s transaction speed and Nasdaq’s trade handling capacity, with Solana positioning itself as a more modern market infrastructure.
However, this comparison drew criticism from Ethereum supporters who argued that it was unfair to compare an open, decentralized blockchain like Ethereum to a closed, centralized exchange network like Nasdaq. The debate escalated further when a prominent pseudonymous researcher known as polynya challenged Solana’s claims, emphasizing the technical superiority of traditional equities infrastructure.
When they say the future of markets runs at 22 TPS but NASDAQ handles 2k trades per second pic.twitter.com/TAsGAcFc7k
— Solana (@solana) August 9, 2025
A New Perspective on Speed and Efficiency
In a detailed response, polynya elaborated on the vast technical capabilities of systems like Nasdaq, pointing out that the speed and efficiency of traditional equities infrastructure far surpass what a minimally decentralized layer-1 blockchain can achieve. The argument centered around the necessity of achieving global consensus in decentralized systems, which poses inherent limitations on speed and efficiency.
Polynya suggested that for blockchains to approach real-time market performance, they would need to focus on leveraging succinct cryptography rather than solely relying on transaction per second (TPS) metrics. This shift, according to polynya, would require innovative solutions such as ZK proofs to expedite consensus processes and enhance execution speed.
The debate also touched on the misconception surrounding ZK proofs, with opinions diverging on their actual impact on system performance. Solana Labs founder Anatoly Yakovenko challenged the notion that ZK proofs inherently improve system efficiency, emphasizing the importance of other factors such as replication costs and execution processes.
Yakovenko highlighted the need for a broader perspective when comparing blockchain networks to traditional financial infrastructure like Nasdaq. He suggested that the focus should be on factors like intake guarantees and scheduling rather than just raw speed metrics like TPS or consensus latency.
Redefining Blockchain’s Role in Market Dynamics
Looking beyond the speed and efficiency debate, community developer João Mendonça emphasized that Solana’s goal is not to match Nasdaq’s speed but to offer a decentralized alternative with global accessibility and asset ownership. This vision aligns with the broader ethos of blockchain technology, focusing on democratizing access to financial services and assets.
As the debate between Solana and Ethereum continues, it underscores the evolving landscape of blockchain technology and its potential to reshape traditional market dynamics. While speed and efficiency are crucial factors, the ultimate impact of blockchain lies in its ability to democratize finance and empower individuals worldwide.
Currently, the price of SOL stands at $174.34, reflecting the ongoing market dynamics and investor sentiment.
