@dfd1 you're delusional. It can't. Rootstock is only good for trivial smart contracts since they are not trustless. Or smart contracts without economic incentives but then you need do-gooders to build them.
Lol @btclovingdude. You're saying ethereum doesn't work as it should because ICOs managed to fill the blocks. But then you say btc works as it should, even though it's network was congested for 6months with ~300k backlog and 5$ fees. So it's okay for bitcoin to have a congested network for ~6months and it's not okay for ethereum to have it congested for hours. I agree ! I have much bigger expectations from ethereum than for bitcoin, and these issues will be fixed in the next 2-6 months !
Topic: Bitcoin vs Eth TPS (Read 768 times)
Comparing tps of bitcoin to ETH is somewhat meaningless. BTC is a cryptocurrency and functions as such. ETH claims to be a "world supercomputer" that is not only a currency, runs smart contracts, has DAPPs, will be used by multiple businesses for commerce and used by banks.
As can be demonstrated by recent ICOs ETH can't handle the number of transactions in a temporary situation when it's used. What's going to happen if there is ever a popular DAPP that loads the system heavier than an ICO 24/7? What if there were several popular DAPPs? While these DAPPs are running how will the banks do business? How about the running smart contracts (many that are poorly and inefficiently written) be able to run? Does commerce have to wait?
The "world supercomputer" that runs 100s if not 1000s of times slower than my cell phone simply will not be able to accomplish what it claims to do. It's time people start dismissing this fantasy. If a person thinks a decentralized system is capable of the performance claims ETH makes, they simply are technically illiterate.
Not sure why anyone would even compare the two.
As can be demonstrated by recent ICOs ETH can't handle the number of transactions in a temporary situation when it's used. What's going to happen if there is ever a popular DAPP that loads the system heavier than an ICO 24/7? What if there were several popular DAPPs? While these DAPPs are running how will the banks do business? How about the running smart contracts (many that are poorly and inefficiently written) be able to run? Does commerce have to wait?
The "world supercomputer" that runs 100s if not 1000s of times slower than my cell phone simply will not be able to accomplish what it claims to do. It's time people start dismissing this fantasy. If a person thinks a decentralized system is capable of the performance claims ETH makes, they simply are technically illiterate.
Not sure why anyone would even compare the two.
if you want to do a fair comparison then you should compare EVERYTHING not just one factor that you like or the factor that you think is better.
a true comparison is like this:
has bitcoin ever failed to perform as it should?
the answer is NO. bitcoin has always been performing well, and the spam attack and the large number of unconfirmed transactions only causes fees to go higher.
has ethereum ever failed to perform as it should?
the answer is YES.
about two weeks ago etherum blockchain was congested to a point where you could no longer use it.
- software shut the wallets off to prevent any more transactions to be sent to the congested network
- no more transactions could be sent out
- if any transaction were sent at that point meant a lost transaction.
- this was a global ethereum blockchain issue which meant all the other ones relying on it were also failing
- all exchanges were forced to shut down all the deposits and withdrawals for at least a week.
here is an example:
Bittrex announcement to shut down ethereum
Ethereum Network is so Congested Exchanges Are Forced to Disable ETH Wallets
Ethereum Blockchain Congestion! Price crash incoming
in short it means nothing to have 1 TPS or 1000000 TPS when you can not handle either of them.
a true comparison is like this:
has bitcoin ever failed to perform as it should?
the answer is NO. bitcoin has always been performing well, and the spam attack and the large number of unconfirmed transactions only causes fees to go higher.
has ethereum ever failed to perform as it should?
the answer is YES.
about two weeks ago etherum blockchain was congested to a point where you could no longer use it.
- software shut the wallets off to prevent any more transactions to be sent to the congested network
- no more transactions could be sent out
- if any transaction were sent at that point meant a lost transaction.
- this was a global ethereum blockchain issue which meant all the other ones relying on it were also failing
- all exchanges were forced to shut down all the deposits and withdrawals for at least a week.
here is an example:
Bittrex announcement to shut down ethereum
Ethereum Network is so Congested Exchanges Are Forced to Disable ETH Wallets
Ethereum Blockchain Congestion! Price crash incoming
in short it means nothing to have 1 TPS or 1000000 TPS when you can not handle either of them.
Litecoin can handle millions of transactions per second. With rootstock platform litecoin can run smart contracts too. Why you even need ethereum these days?
So, now that the spam in bitcoin stopped, the real TPS processed is 1,7. Ethereum is processing 4,18 TPS atm. Bitcoin still has backlog. Talk about real network usage.
https://blockchain.info/unconfirmed-transactions
https://etherchain.org/
https://blockchain.info/unconfirmed-transactions
https://etherchain.org/
So, currently bitcoin handles about ~290k transactions per day / 3.3tps . Ethereum atm has 4.22TPS ( with enough room for more ), meaning it handles about ~25% more transactions, and they still cost cents compared to ~5$ on bitcoin. This is merely an example to combat FUD where trolls claim bitcoin scales better currently.
https://blockchain.info/charts
https://etherchain.org/
https://blockchain.info/charts
https://etherchain.org/
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