Blockchain Speed and Cost Comparisons
We’ve had the opportunity to learn how bespoke stablecoins like SBC perform on many blockchains, including Ethereum, Polygon, Avalanche, Celo, Stellar, Base, and Optimism. We’d like to share our observations about the cost and speed of using multiple blockchains for payments based on real world usage.
Blockchains have the advantages of being 24/7, global, transparent, and programmable. On a purely cost basis, chains are also comparable to traditional payment formats.
Fees on many chains are low enough that it’s possible for programs to subsidize all stablecoin transaction fees. We’ve also seen that settlement on some blockchains, especially Solana and Stellar, approach costs of relational database updates.
Cost and speed observations
Here we compare the average gas fee cost of stablecoin payment transfers based on observations with SBC.
The average cost of transactions on Ethereum is $5.73, which is significantly more expensive than the chains presented.
The graph below now compares the average time to finalize stablecoin transfers by chain.
It’s worth noting that speed and cost are not the only metrics to compare blockchains. Privacy, TPS, compliance features, and other attributes can help inform which chain is best suited for specific use cases.
We welcome feedback on these observations and would love to hear if there are additional blockchains you’re considering or would like to see implemented.