Attack speed

Attack speed in Terraria is handled like movement speed: additive bonuses except the cap is at 4 times original speed. However use time, or the time it takes to swing (attack) or use an item, is reduced instead of increased. Use time of 30 is slower than use time of 10. See weapon list for an organized view of this.

Max increased attack speed (for melee) is +73% using Shadow armor set (21), Feral Claws (12), Well Fed (5), Tipsy (10), Werewolf (buff) (5), and total of 5 accessories reforged to Violent (20).

Even though most tools are also melee weapons, increasing attack speed will not increase mining speed. To do that, a player needs Mining armor.