Memes

45734 readers

421 users here now

Rules:

Be civil and nice.
Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.

founded 5 years ago

MODERATORS

[email protected]

1874

Blockchain: the wave of the future (lemmy.world)

submitted 9 months ago by [email protected] to c/[email protected]

332 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 0 points 9 months ago* (last edited 9 months ago)

Ethereum is a Layer-1, which is focused on super ironclad security and eternal preservation. It's more of a catalogue than a practical way to transact. Now, Layer-2's on the backbone of Ethereum (Polygon, Arbitrum, Optimism, etc.) are able to handle thousands of transactions per second.

For example, Polygon has a capacity to conduct up to 7200 TPS (while practically being used to the tune of 50 TPS simply because people don't actually need that much currently).

If you want Layer-1 that is focused on speed, there's Solana, for example, with 300.000 TPS tested and potential for 710.000.

This problem is essentially solved for everyday applications. The reason Bitcoin and Ethereum has such a low TPS is that they've never focused on TPS to begin with, instead opting for the most hyper-secure networks people store value in. I'm not saying Polygon or Solana aren't safe - they're perfectly fine - it's just that Bitcoin and Ethereum have laser-focused on that aspect, making compromising the blockchain even by biggest of institutions entirely off the table.