The Steem blockchain was upgraded earlier today. You may experience trouble posting and transacting while the new bandwidth system stabilizes. Read more here.

Waves set to smash blockchain throughput record

in bitcoin •  20 days ago

ezgif.com-resize.gif

Blockchains have historically been notoriously limited in the volume of transactions they can process. In 2016 and 2017, Bitcoin was the subject of a ferocious scaling debate due to its ability to support just a few transactions per second (tx/s). That debate resulted in the controversial BCash fork, while the Bitcoin Core chain has since implemented SegWit, enabling greater throughput and off-chain transactions via the Lightning Network.

Still, few blockchains can support even a few dozen tx/s on-chain, and none have come remotely close to the 24,000 tx/s capability claimed by Visa (though Visa’s regular throughput is more like 2,000 tx/s). Numerous projects have boasted that they will enable enormous transaction volumes, but these are still in development. What counts is not theory, it is real-world results. Now, Waves is set to post some very impressive results after an extremely promising test by Marc Jansen:

‘I just pushed 100k transfers through the #wavesplatform TESTNET. About 4892 transfers per second. Proof? Check blocks 354731–354734. A detailled report will follow after i reproduced the experiment on MAINNET!’
Approaching 5,000 tx/s — and that’s before any further optimisation, and before off-chain scaling is implemented.

It needs to be stated that testnet transactions are not the same as mainnet use, just as any other tests carried out in the lab typically cannot be replicated in the real world, where variables cannot be so easily controlled. Nevertheless, we await the results of the mainnet stress test with interest!
ZHeltaya-polosochka-kopiya-300x5.jpg
Red hot news, scorching wit and searing opinion pieces from Crypto Inferno.

Join us on
Telegram: https://t.me/crypto_inferno
Reddit: https://www.reddit.com/r/CryptoInferno/
Twitter: https://twitter.com/CryptoInferno_
Facebook: https://www.facebook.com/CryptoInferno/
Steemit: https://steemit.com/@crypto.inferno

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

NexusBot.io - Best Crypto Trading Bot

  • Bittrex
  • Poloniex
  • Bitfinex
  • 50+ exchanges

Welcome to NexusBot.io

Waves seems to be making some great inroads while a lot of other projects are stalling.

·

they got a good tech that other blockchain should implement.

Whats Steem tx/s? I always wondered that.

·

That depends, on full load easily 100k/s but since there are no fees no single user can just block the entire network

·
·

100 000 tx/s? Or did you mistype the k.

·
·
·

the k is intentional. Easily 10k/s because steem tx can be quite big with all the content, but for just money transfers 100k should be no problem.

More context: https://blocktivity.info/
image.png

Steem is at 0.12% load with two magnitudes of tx more than waves :)

And let me guess? Waves might have transfer fees, something steem does not have ;)

I love swimmin.... But no one teach me how to swimmin.

i think btc should upgrade :x

EOS actually does this and then some. Actually so does steem for that matter, but EOS scales better than Steem, and just about anything else as far as I've been able to find.

Though Steem and EOS are both already faster than WAVES. They both also do more things than WAVES so waves is not really a NEW thing other than a new crypto.

Always something going off at Waves! Keep up the great work!