Study Finds Blockchain Networks Overstate Transaction Speeds by 20 Times
A study by Taraxa indicates that many blockchain networks exaggerate their transaction speeds, with reported figures often 20 times higher than actual performance. Notably, Sonic (formerly Fantom) inflated its throughput by over 100 times.
The main findings include:
- Significant gap between theoretical and actual transaction per second (TPS) capabilities.
- Networks like Solana, Aptos, and Sonic frequently present inflated TPS figures.
- Performance claims often based on ideal conditions rather than real-world scenarios.
- Introduction of the "TPS per dollar" metric to measure efficiency against validator node costs.
- Sonic showed the largest discrepancy in TPS reporting, overstating by more than 100 times.
- On average, most networks exaggerated their speeds by a factor of 20.
- High-end hardware requirements for basic transaction speeds raise decentralization concerns.
- Solana had the highest hardware costs but maintained strong throughput.
- Need for honest reporting in the blockchain sector to provide clearer insights into network capabilities.
The study calls for improved transparency as the industry matures, emphasizing the importance of verifiable data.