The Raspberry Pi is a great machine to learn the ins and outs of blinking pins, but for doing anything that requires blinking pins fast, you’re better off going with a BeagleBone. This has been the conventional wisdom for years now, and now that the updated Raspberry Pi 2 is out, there’s the expectation that you’ll be able to blink a pin faster. The data are here, and yes, you can.
The method of testing was connecting a PicoScope 5444B to a pin on the GPIO pin and toggling between zero and one as fast as possible. The original test wasn’t very encouraging; Python maxed out at around 70 kHz, Ruby was terrible, and only C with the native library was useful for interesting stuff – 22MHz.
Using the same experimental setup, the Raspberry Pi 2 is about 2 to three times faster. The fastest is still the C native library, topping out at just under 42 MHz. Other languages and libraries are much slower, but the RPi.GPIO Python library stukk sees a 2.5x increase.