Transaction per second (TPS)
QANplatform, the high TPS yet decentralized blockchain
💡[Definition] Transaction per second (TPS)
Transactions per second (TPS) is a measurement that represents the number of transactions completed in one second by a blockchain platform.
[Market problem]: High TPS vs. Decentralization
The fastest blockchains achieve a high TPS number by giving up blockchain technology's key mission: decentralization.
The QAN blockchain is designed to circumnavigate issues plaguing today’s blockchains in regards to speed and decentralization. By employing a consensus mechanism called Proof-of-Randomness (PoR) which was developed by QAN, high transaction throughput can be achieved in an energy-efficient manner. It’s a generalization of Algorand, with added scalability and verifiable pseudorandomness.
The QAN MainNet has an initial testing speed of 1,600 TPS. Thanks to the interesting innovation, PoR, the platform is able to exponentially increase its TPS when used in the private blockchain mode.
QANplatform provides the foundational structure for users who may want to create a private blockchain for themselves and use QANplatform as a hybrid blockchain. Within the confines of a QAN-enabled private blockchain run by private nodes and servers, the TPS can climb as high as 97,000 TPS. This new approach is an interesting way to scale TPS in the future, through the combination of private and public blockchains, creating a fast and scalable hybrid blockchain.
Using QANplatform as a hybrid blockchain platform a 155,200,000 TPS can be achieved in the best theoretical scenario.
Imagine that there are 1,600 companies in total on the public network. Each of them running a private blockchain on their separate infrastructure. Let's imagine that the network is fully saturated and they are utilizing all the 97,000 TPS on their private blockchains.
If every single company creates proof of the current state of their private blockchain and records it on the public blockchain that means 155,200,000 TPS could be achieved on the QAN blockchain platform per second.
As you can see this is a highly theoretical scenario and not likely to occur in the real world, since all this must be happening in one second on a public blockchain, where tremendous amount of transactions are running. But if this scenario does come to life, we can confidently say that QANplatform can handle 155,200,000 transactions per second (TPS).
Key Takeaways — [Transaction per second (TPS)]:
- The fastest blockchains achieve a high TPS number by giving up the blockchain technology's key mission, which is decentralization.
- Thanks to the PoR consensus algorithm QANplatform can achieve enterprise-ready high TPS yet remain decentralized.
- The QAN MainNet has an initial testing speed of 1,600 TPS.
- QAN private blockchain has an initial testing speed of 97,000 TPS.
- The theoretical maximum TPS of QANplatform using it as a hybrid blockchain is 155,200,000 TPS.