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Zilliqa core network supports thousands of transactions per second


The Zilliqa main network It currently supports more transactions per second than Ethereum, Cardano, and Algorand combined.

This is what the Zilliqa investor Josh Zielinski I reveal On twitter, referring to the fact that this is a blockchain designed specifically for business customers, requiring thousands of transactions per second.

In fact, according to what was said does some time, the Zilliqa blockchain supports almost 3,000 transactions per second, while, for example, the Ethereum blockchain is struggling to top 15.

Also, the speed of transactions in Zilliqa is very highWhile on Ethereum it often takes several seconds before they are validated.

However, despite these huge differences from a theoretical point of view, Ethereum still dominates unanswered in terms of actual usage.

It is enough to think that for a few weeks Ethereum has consistently exceeded the million transactions recorded daily on the blockchain, that is, three times those recorded on the Bitcoin blockchain and one and a half times those recorded on XRP (Ripple).

From this point of view, only EOS and Tron the They are doing better than Ethereum, though the latter only sometimes, while Zilliqa is a long way off, with just over 25,000 transactions in the past 24 hours.

In other words, at this point in history, the number of transactions actually logged every second on blockchains worldwide is still relatively small, and this gives developers some time to find solutions to scalability constraints. from different blockchains.

While Zilliqa is ready to withstand a powerful increase in the number of transactions recorded, the same is not true for other blockchains.

As for Ethereum, the solution has already been identified and is already on the Test phase: is the call net Ethereum 2.0, which is no longer based on Proof of Work (PoW) consensus algorithm, but Proof of Stake (PoS), exactly when the final update will be released is still unknown.

If DeFi's success and stable currencies like USDT continue to increase using this blockchain then this update will be needed ASAP.

The hypothesis is that it could launch in late 2020, but still not safe.

Other cryptocurrencies, such as EOS and Tronbut also as XRP or BSVare ready for a possible significant increase in the number of transactions, while the identified solution for Bitcoin, namely Lightning Network, is struggling to take off.

However, this is due to the current lack of the need for fast and cheap BTC transactions, while if this need becomes apparent, the use of LN compatible wallets finally take off.

It should also be noted that the use of ERC20 tokens on the Ethereum blockchain that replicate BTC 1: 1 is being spreading more and moreSo when PoS is introduced on Ethereum it may also be used as a solution for scalable bitcoin transactions, thanks to the clever solution of using ERC20 tokens that replicate BTC.

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