MATRIX AI Network has launched a new public demonstration confirming that system throughput speeds exceed 50,000 transactions per second (TPS). Access the speed test data on our website https://www.matrix.io/50ktps/index.html
Transactions per second (TPS) is a measure of the number of transactions processed per second by a system. TPS has proven to be a constant point of comparison between competing blockchain technologies as low TPS negatively impacts the user experience and impedes mainstream blockchain technology adoption. Both Bitcoin and Ethereum have been plagued at various times by their low TPS — which often results in high transaction costs, long confirmation times and poor scalability.
High TPS is a necessity if blockchain technology is ever to support large commercial applications. If a network’s TPS is too low, the network is at risk of crippling congestion — this may result in a failure to properly confirm transactions. Indeed, hard forks have become an industry norm.
MATRIX AI Network’s goal is to achieve high throughput using a unique consensus algorithm. This is accomplished by adopting a distributed system load-balancing hash cycle.
MATRIX’s unique dynamic delegation network enables the network to achieve incredibly high transactions speeds. This newest demonstration reiterates that MATRIX has exceeded a 50K TPS throughput — a number far above competing chains.
The MATRIX Mining Machine also currently exceeds a 50K TPS throughput. Please visit our website to view the speed test data. Work continues behind the scenes to reach our TPS goals. Please enjoy the video: