Who Scales It Best? Inside Blockchains’ Ongoing Transactions-Per-Second Race
QtumX protocol can reportedly handle more than 10,000 transaction per second. What about others?
Open-source project Qtum representatives claim that their enterprise blockchain dubbed ‘QtumX’ can accommodate “more than 10,000” transactions per second (TPS), according to a press release recently shared with Cointelegraph.
With yet another player being added to the scalability race, it makes sense to look back and see how the main blockchains and cryptocurrencies stand in regard to TPS — and whether their numbers are actually authentic.
Transaction speed: How important is it?
Scalability is one of cryptocurrencies’ main issues, especially when it comes to the older coins. In fact, one of the first public comments on Bitcoin’s (BTC) white paper opened with the following line: “We very, very much need such a system, but the way I understand your proposal, it does not seem to scale to the required size.”
Ten years on, the problem still persists — the original blockchain can reportedly process only around seven TPS, which eventually led to dire consequences. At the end of 2017, Bitcoin users had to