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Ask HN: Can Bitcoin (or Blockchain) ever achieve 1M transactions per second?
Is this possible? And I'm talking about results/experiments/systems that have actually shown this, and not just made claims of "scalability" without presenting any results?
- OliviaLee 8y agoMy answer is as many transactions as needed in order to never have to wait more than 24 min to have a transaction on the blockchain (without paying a fee). That means the network (in the current setup) should be at around 7tps sustained for 24 min (with mostly fee paying transactions) for your transaction to not get through.If you want to have your transaction included and confirmed quickly then you should pay a higher fee. Read more about pbft blockchain (https://blockchain.intellectsoft.net/blog/consensus-protocols-that-meet-different-business-demands/ https://blockchain.intellectsoft.net/blog/consensus-protocol...)
- youdarealmvp 8y agoThe only thing I can find here is Teechain: https://lsds.doc.ic.ac.uk/content/achieving-1-million-bitcoin-transactions-second https://lsds.doc.ic.ac.uk/content/achieving-1-million-bitcoi...
- FriedPickles 8y agoThere are some “layer 2” protocols which could allow Bitcoin to achieve that scale. Most notably https://lightning.network https://lightning.network.
- youdarealmvp 8y agoInteresting.. but there's no concrete numbers/results for performance anywhere, right?
- hnUserOct2018 8y agoBTC not likely... other protocols are more than likely.
- wmf 8y agoThe Gigablock Testnet (a tweaked version of Bitcoin) hit 1,000 tx/s and they believe more tweaks can get them to 10,000 tx/s: https://scalingbitcoin.org/stanford2017/Day1/Stanford_2017.pptx.pdf https://scalingbitcoin.org/stanford2017/Day1/Stanford_2017.p... Avalanche has done over 1,500 tx/s: https://ipfs.io/ipfs/QmUy4jh5mGNZvLkjies1RWM4YuvJh5o2FYopNPVYwrRVGV https://ipfs.io/ipfs/QmUy4jh5mGNZvLkjies1RWM4YuvJh5o2FYopNPV...
- rayvy 8y agoBitcoin not likely, but in my personal opinion EOS[1] (as of today) might be the first. I think we're currently on 2nd gen blockchain, and if we stay here (and Moore's Law continuing), then I think EOS will be the first to reach that feat. But seeing how fast the space is moving, another platform might come along in a few years that has a better implementation than EOS (thus leading to more TPS). [1] https://www.google.com/search?client=firefox-b-1-ab&q=eos+transactions+per+second+live&spell=1&sa=X&ved=0ahUKEwjlqbWcyKfeAhWDDiwKHT5-DiwQBQgrKAA&biw=1418&bih=715 https://www.google.com/search?client=firefox-b-1-ab&q=eos+tr...
- CryptoPunk 8y agoIn theory, Ethereum's scaling plan let's it reach 1 million transactions per second: https://www.ccn.com/vitalik-buterin-ethereum-will-eventually-achieve-1-million-transactions-per-second/ https://www.ccn.com/vitalik-buterin-ethereum-will-eventually... How that works out in practice remains to be seen. Recent developments are encouraging for scalability. For example Roll Up is a plan to use zk-SNARKs to create very secure sidechains that would increase the total capacity of a single Ethereum chain to 17,000 tps or more. With sharding, where Ethereum operates 100 chains at once, that would mean Ethereum would be able to achieve 1.7 million transactions per second.
- ian0 8y agoAre there any traditional payments systems which do 1m trx / second?
- ian0 8y agoVISA averages 1,750 TPS with bursts up to 24k TPS. Alipay did a burst of 256,000 trx / sec last year. [1] 1. https://thenextweb.com/asia/2017/03/06/largest-payments-company-world-people-never-heard/ https://thenextweb.com/asia/2017/03/06/largest-payments-comp...
- pacuna 8y agoI think it would require significant architectural changes. As far as I know, the replication and consensus protocol are just too slow.