10+ Million TPS: The Future of Crypto Transactions | Addressable Market Growth
Edited By
Marcus Thompson
A significant conversation is brewing among people in the crypto community about the potential for blockchains to handle over 10 million transactions per second (TPS) in the future. The speculation hints that as innovations like IoT, AI, and global supply chains emerge, so too will the demand for vast TPS capacity.
Examining Current Blockchain Capacities
Crypto networks are competing to capture slices of this massive future market. Here's a snapshot of their current theoretical TPS potentials:
ICP: 209,708 TPS
Somnia: 1,050,000 TPS
Sui: 120,000 TPS
Aptos: 160,000 TPS
TON: 104,715 TPS
Solana: 65,000 TPS
NEAR: 16,000 TPS
Algorand: 9,384 TPS
Base: 3,571 TPS
Stellar: 2,032 TPS
BNB Chain: 2,222 TPS
Flow: 3,900 TPS
Arbitrum: 40,000 TPS
Avalanche: 1,191 TPS
Ethereum: 119.1 TPS
Polygon: 714.3 TPS
Sei: 12,500 TPS
Combined, these networks currently offer about 1,790,147 TPS, a long way from the anticipated 10 million. If the global demand reaches millions or billions of TPS, most of these networks may struggle to keep up.
Consequences of Reaching Capacity
When blockchains hit their TPS limits, problems arise:
Increased Gas Fees: Users may pay more to prioritize transactions.
Higher Latency: Slower transaction times increase user frustration.
Dropped Transactions: Networks risking outages may lead to losses.
One comment from the crypto community reflects skepticism: "How much do you get paid to distribute this hopium all year round?" This highlights a growing worry about the viability of such scaling claims.
The Case of Hedera
Interestingly, Hedera is positioning itself differently. Its unique structure adopts a leaderless asynchronous BFT means it can scale with added nodes without sacrificing speed or cost. This results in fixed fees that don't fluctuate based on network load, unlike most competitors.
"Hedera was built to eat the entire global economy and ask for a second plate," one user proclaimed, emphasizing its potential.
Sentiment Analysis Among Comments
Despite optimistic predictions, sentiment varies widely among community voices:
Skeptical Outlook: Many express doubt in the ability to reach high TPS.
Cynical Views: Users question the real-world application outside of BTC and stablecoins.
Support for Innovation: Some back Hedera's claims, viewing it as the future.
Key Insights
△ Current blockchain capacities total around 1,790,147 TPS.
▽ Hedera's fees remain stable despite network stress conditions.
※ "Fixity in fees is rare; most networks fluctuate wildly based on price."
As discussions continue, the industry watches closely to see if any network can truly meet the explosive potential the future promises.
What the Future May Hold for Crypto
As the crypto market evolves, there's a strong chance we’ll see significant advancements in blockchain technology over the next few years. Experts estimate that reaching 10 million TPS will require a shift, with a focus on innovative solutions like Hedera's approach potentially leading the way. There’s a likelihood that networks currently behind in TPS will either adapt or fade away as demand surges. Given the rapid development of IoT, AI, and global commerce, the pressure on networks to scale effectively is more pronounced than ever. As these technologies integrate more deeply into everyday life, reaching higher TPS could very well become a necessity rather than an aspiration.
Echoes from the Past: The Telecom Revolution
The current situation in crypto holds a striking parallel to the telecom revolution of the late 20th century. Back then, as mobile technology gained traction, companies faced overwhelming challenges to keep up with explosive demand for connectivity. Yet, just like the nascent crypto systems today, some companies rose to the occasion, introducing ground-breaking technologies that transformed their industries. The unpredictability of early mobile tech and today’s blockchain ecosystem both demand adaptive strategies, proving that history can inform present-day innovation in unexpected ways.