Topic: WOW! Cryptocurrency VS Visa Transaction per second (TPS) comparison - page 2. (Read 744 times)

Visa is not getting 24k TPS, it's not even its full capacity. Visa can handle up to 56k TPS. But in reality, Visa gets about 1.7K TPS.
Also, Visa doesn't work like something comparable with crypto. Each transaction is verified individually, but transactions are sent in a batch later, during the night.

If the Lightning Network can even be functional at this level, it will render dozens of coins unusable, and Bitcoin will be even more dominant and consequently more valued. I believe that the next two years are vital for day-to-day acceptance of crypto-currencies as a form of payment.

It does look great, doesn't it? But it's not there yet, and this looks like a bit of speculation to me. Although I bet it's based on some good figures.

The transaction speed is the thing that's holding bitcoin back right now. It's being widely adopted as an investment vehicle, but not so much for exchanges. What coin has the most potential for retail exchanges? How does ripple look in terms of usability for transactions?

i think thats not the real data, and i think that is the maximum capacity that they can hold? or maybe just speculation of the expert, but we should proud with bitcoin because its has beaten visa in capacity of transaction per second. I hope that someday the maximum capacity can be reached

From my  opinion both are different from both side. Tps is good but we cannot compare  with btc.

Since I don't have a clue about altcoin, this Komodo?
From their own block explorer it seems they are doing 3-4 tx a minute (one of them being the new coins minted)  

What's the point of having a 1million tps capacity when your chain is doing 0.03 tps  

Besides , 1 million tps = 3.6 billions per hour...for what? Of course, marketing, what else!
Visa deals with the Christmas surge at 24 000 tps anything bove 50 000 is useless.


Let's assume the LN has the same amount of txs as  the main chain, it will lead to about 500k tx per day.
To actually reach 50k tps, we would need just a ~ x8500 , increase in usage

! million tps isn't achievable even within the next few years. Perhaps that would be the operating limit of the LN and if so, it would be impressive if they would be able to showcase that by flooding the market and deploying it through LN. While that may not achieve anything for adoption and whatnot, it still goes to show how far this technology can go if sufficient support from the involved parties is received. I wonder if we'll even reach 30-50k tps sooner since most people only use bitcoin for speculation and literally nothing else.

Just imagine the requirements if a proper internet of things gets going. There'll be billions of machines doing little deals with each other every day. I can imagine that by the time it's mature, lightning networks will be too and it'll be possible to slot them straight in.

I doubt the machines will like the price volatility too much though.

Theoretically tier two/three/four layers can process 1 billion transactions per second, but that's under perfect circumstance which we in the real world will never be able to replicate.

If LN at some point turns out to process ~10,000 real world transactions per second, we can be sure that it will boost Bitcoin's adoption as currency to record highs.

But seriously, how much more than 10,000 transactions per second do we need? Even 100 is enough to stimulate mass adoption. We have to accept that not everyone in the world will use Bitcoin, just like how not everyone in the world is using PayPal, MasterCard, Visa, etc. Every coin will end up doing the best for its own following, just like how centralized payment services are doing that for their own following.

The most important aspect of evolution in the crypto industry will be to make sure that we can swap from digital currency to digital currency from within our wallet clients, all to avoid dealing with centralized parties.

Transactions per second is a noob metric. If it really mattered Bitcoin wouldn't be able to grow out to where it is right now. People don't *yet* want to spend Bitcoin, they hoard it because it's digital Gold. This is enough utility value for Bitcoin to keep growing. LN is just an expansion to create even more utility value because it will allow Bitcoin to function as money better than ever before.

Sad news, the TPS numbers which were announced to us are claims by developers. The pressure is breaking them, as mass amount of users kick in, really hoping for an upgrade.

yeah I am so happy that bitcoin growth is going on a very high rate but I still didn't understand how you are comparing this two thing as per my knowledge I thing this two are from total different platform and it's motive and systems are also separate so that is why I don't thing it is appropriate to compare them

It is very unfortunate that the TPS numbers that disclosed to us are just claims made by developers. When they are facing pressure on their network with presence of millions of users are thousands of transactions their capability of handling the pressure won't match with TPS number then. But, there's still hope if there's any advancements.

I'm so happy about bitcoin have more positive news in different use of bitcoin and compare it for the different kind business using new technologies, hope this good news help for bitcoin got stay in goid price bumping.

yeah, we need to solve the TPS business problem soon.. I know there are number of projects like EOS or COTI and others that are trying to solve the scalability issues, it is only a matter of time when they overcome the 24k TPS of visa

I've also heard that Komodo have surpassed Visa in terms of transaction per second (They are very ambitious they were doing a road to 1 million tps lol) so  yeah surpassing Visa in term of technology shouldn't be difficult with cryptocurrency but the main problem is what is the point of being able to do that much transaction when you don't have that much users to perform these transaction initially?In conclusion the main challenge for crypto is adoption before technology.

Cryptocurrency transaction per second is much faster than visa and speed that can be experienced on blockchain is not something the visa transaction per second be compared too.

I think that Btc + Ln is very similar with Ethereum + Plasma. As we know that Lightining network founder Joseph Poon and Ethereum founder Vitalik Buterin developed Plasma. Through the Sharding and Plasma protocol scaling solutions, Vitalik announced that it could potentially perform 1 million transactions per second and may be possible to developed to perform more than 100 million transactions.

https://www.ccn.com/vitalik-buterin-ethereum-will-eventually-achieve-1-million-transactions-per-second/

lets not get hung up on tps figures that usually come with other huge and more important things sacrificed.

tps is marketing bullshit for most alts

fully decentralised and trustless is magnitudes more important

btc is still king of crypto either way

Keep in mind, some of those TPS numbers are just theoretical claims. Developers have tested them in a sterile environment with a handful of nodes, but not on the public network with the actual data under the pressure of real transactions competing to be included in the block.

This TPS stuff is cool, however I'd still like to know more about the on and off ramps and their capacities.

A trillion TPS isn't much use if only a few thousand a day can actually get in and out.

I'm perfectly happy to admit I know nothing about how LNs work but that's one I'd like spelled out loudly and clearly for me.