Blockchain performance overstated by 20x, Taraxa report finds

Steven Pu, co-founder of the Blockchain Taraxa de Pay-1, published a report on February 24 highlighting a significant gap between the performances of the blockchain claimed and real.

By analyzing 22 networks using channel data, the study revealed that theoretical transactions per second (TPS) are overestimated on average 20 times compared to the results of the real world. According to the resultsThis difference comes from measures based on the laboratory which do not hold the maintenance live.

The report presents a new metric: TPS per dollar spent on a validator node (TPS / $), aimed at measuring profitability rather than raw speed. In the 22 channels, the theoretical PVs were on average 20 times higher than the performance of the maint observed, with only four networks reaching TPS / $ two-digit reports.

Could argue that this shows that many blockchains require expensive equipment for modest transaction rates, which questions the allegations of scalability and decentralization.

“We all have to stick to transparent, verifiable and chain performance measures,” according to the study.

Scalability of the blockchain questioned

PU’s results suggest the focus put by industry on high TPS stakeholders. Bitcoin (BTC) and Ethereum (Ethn), for example, prioritize speed on speed, while more recent channels praise large numbers that rarely materialize. Metric TPS / $ could change the way developers assess networks for practical use cases such as payments or monitoring of the supply chain. The report indicates that,

Max observed main TP for the networks included, on a 100 block window (TX / S)
It should be noted that Chains Respect specifically excludes transactions that can unjustly inflate this maximum metric TPS, such as voting transactions

Taraxa Pressing for transparency

Taraxa, a layer 1 of proof of work focused on the audit journalization, supervises it as an alarm clock. PuanAn entrepreneur educated in Stanford, urges the dependence on Mainnet data on media threshing.

This occurs while the crypto space is cluster with adoption obstacles. Inflated statistics could distort investment and development decisions, in particular in the use of finance and the decentralized supply chain which require reliable performance. The PU suggests that profitability measures like TPS / $ could redefine the way in which the sustainability of the blockchain is evaluated, by focusing on networks which offer practical value rather than high theoretical speeds.