Transaction per second (TPS)
QANplatform, the high TPS yet decentralized blockchain
Last updated
QANplatform, the high TPS yet decentralized blockchain
Last updated
💡[Definition] Transaction per second (TPS)
Transactions per second (TPS) is a measurement that represents the average number of transactions completed per 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 platform is designed to solve 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.
The utilization of the Proof-of-Randomness (PoR) mechanism — developed by QAN — ensures that the QAN blockchain platform is able to support fast transaction speeds.
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 will be able to 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 public blockchain per second in a hybrid setting.
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 is capable to reach a speed of 1,600 TPS.
QAN private blockchain is capable to reach a speed of 97,000 TPS.
The theoretical maximum TPS of QANplatform using it as a hybrid blockchain is 155,200,000 TPS.
