Importantly, the EOS Network Monitor estimates EOS’s maximum TPS at 3,996. However, The Monitor estimates EOS was processing between 54 TPS and 62 TPS on 29 August 2019.Read more
Sidechains are less-encrypted digital pathways that act as shortcuts around the blockchain. The Lightning Network protocol adds layers of sidechains to Bitcoin. Sidechains speed up the transaction process because they have a greater capacity and higher speed than blockchains.
For example, the Lightning Network’s builders claim it can process 333 Bitcoin transactions a second. Hence, an application built with Lightning could process up to 333 Bitcoin payments a second without crashing.
The Lightning Network contains larger numbers of nodes designed to move large volumes of Bitcoin. Notably, the Lightning Network claimed to have over 4,000 nodes in operation on 19 November 2018.
Moreover, the Lighting Network is adding solutions like the Liquid Network sidechain. The Liquid Network is a sidechain designed for large organizations such as businesses, banks, and cryptocurrency Exchanges.
The Lightning Network is even offering a plug-in for Microsoft (NYSE: MSFT) Excel. This plug-in could encourage Bitcoin (BTC) use because Excel is one of the world’s most popular accounting solutions. 500 million people worldwide reportedly use Excel, The Irish Tech Times claims.
It sounds as if Buterin has admitted that smart contracts are not very smart, or very useful in the real world. The existence of Plasma indicates that Poon and Buterin believe that a lot of work needs to be done before Smart Contracts are ready for mass use.
The hope behind Plasma is to increase the scalability and speed of Ethereum smart contracts. Like Bitcoin, Ethereum has a serious scalability problem, currently a block of Ethereum can only execute around 20 transactions a second; or 1,200 transactions a minute. That makes it impractical for large-scale commercial applications.Read more