Ask HN: Can Bitcoin (or Blockchain) ever achieve 1M transactions per second?

https://news.ycombinator.com/item?id=18316562

by youdarealmvp • 8 years ago

5 10 8 years ago

news.ycombinator.com

Is this possible? And I'm talking about results/experiments/systems that have actually shown this, and not just made claims of "scalability" without presenting any results?

youdarealmvp2• 8 years ago

The only thing I can find here is Teechain: https://lsds.doc.ic.ac.uk/content/achieving-1-million-bitcoi...

FriedPickles• 8 years ago

There are some “layer 2” protocols which could allow Bitcoin to achieve that scale. Most notably https://lightning.network.

youdarealmvp2• 8 years ago

Interesting.. but there's no concrete numbers/results for performance anywhere, right?

hnUserOct2018• 8 years ago

BTC not likely... other protocols are more than likely.

wmf• 8 years ago

The Gigablock Testnet (a tweaked version of Bitcoin) hit 1,000 tx/s and they believe more tweaks can get them to 10,000 tx/s: https://scalingbitcoin.org/stanford2017/Day1/Stanford_2017.p...

Avalanche has done over 1,500 tx/s: https://ipfs.io/ipfs/QmUy4jh5mGNZvLkjies1RWM4YuvJh5o2FYopNPV...

rayvy• 8 years ago

Bitcoin not likely, but in my personal opinion EOS[1] (as of today) might be the first. I think we're currently on 2nd gen blockchain, and if we stay here (and Moore's Law continuing), then I think EOS will be the first to reach that feat.

But seeing how fast the space is moving, another platform might come along in a few years that has a better implementation than EOS (thus leading to more TPS).

[1] https://www.google.com/search?client=firefox-b-1-ab&q=eos+tr...

CryptoPunk• 8 years ago

In theory, Ethereum's scaling plan let's it reach 1 million transactions per second: https://www.ccn.com/vitalik-buterin-ethereum-will-eventually...

How that works out in practice remains to be seen.

Recent developments are encouraging for scalability. For example Roll Up is a plan to use zk-SNARKs to create very secure sidechains that would increase the total capacity of a single Ethereum chain to 17,000 tps or more. With sharding, where Ethereum operates 100 chains at once, that would mean Ethereum would be able to achieve 1.7 million transactions per second.

ian02• 8 years ago

Are there any traditional payments systems which do 1m trx / second?

ian02• 8 years ago

VISA averages 1,750 TPS with bursts up to 24k TPS. Alipay did a burst of 256,000 trx / sec last year. [1]

1. https://thenextweb.com/asia/2017/03/06/largest-payments-comp...

pacuna• 8 years ago

I think it would require significant architectural changes. As far as I know, the replication and consensus protocol are just too slow.

Ask HN: Can Bitcoin (or Blockchain) ever achieve 1M transactions per second?

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