Does it still make sense to benchmark blockchains using transactions per second (TPS), or are there smarter alternatives in 2024?
For years now, TPS, or transactions per second, has been the go-to metric for blockchain developers trying to hype up their snazzy new networks.
Compared to Bitcoins seven transactions per second maximum (usually closer to four), for years, Ripple claimed that XRP was able to handle 1,500 TPS, on par with Visa’s transactions per second, although chief technology officer David Schwartz admitted last year that it has never actually hit that figure.
Solana transactions per second are claimed to be 65,000 TPS in benchmark testing, although they are closer to 3,000 TPS in the real world and its real TPS metric is much lower again. Even newer blockchain networks now tout up to 297,000 transactions per second theoretically, of course.
