The Future of Crypto | Will It Really Reach 10 Million TPS?
As discussions heat up across various forums, the prediction of over 10 million transactions per second (TPS) for crypto systems elicits mixed reactions. Critics argue about the feasibility of this ambitious goal, suggesting that the focus should remain on Bitcoin and stablecoins rather than unproven technologies.
Interest in the topic was sparked by theoretical conversations around the potential application of cryptocurrencies in areas such as IoT, AI, and global supply chains. Despite this, skepticism remains prominent among participants, with one user questioning,
"How much do you get paid to distribute this hopium all year round?"
This sentiment reflects a broader concern about the lack of widespread demand for blockchain solutions six years post-inception.
Crypto's Current TPS Landscape
Recent conversations highlighted various networks and their theoretical maximum TPS:
ICP: 209,708 TPS
Somnia: 1,050,000 TPS
Sui: 120,000 TPS
Aptos: 160,000 TPS
Solana: 65,000 TPS
Ethereum: 119.1 TPS
Totaling around 1,790,147 TPS, these figures underscore the limited scope against the projected 10 million. Growing traffic may result in escalated gas fees and higher latency issues in transaction processing. As one user warned,
"When blockchains hit their TPS ceiling, gas fees will spike as users bid higher for priority."
Hedera: A Unique Proposition
Hedera's unique position comes from its leaderless Hashgraph consensus, designed to scale effectively without the bottlenecks typical of traditional blockchains. A comment in defense of Hedera stated plainly,
"In practical terms, Hedera can scale to whatever TPS is needed."
However, concerns about security due to sharding practices were also noted. One user pointed out that if one shard is compromised, it poses risks to the entire system, saying:
"If the consensus of one shard is compromised, it leaks to all others."
The Community's Split Views
The discourse reflects a blend of optimism and trepidation:
Some users remain hopeful for Hedera's infinite scalability.
Others remain cautious, warning of the dangers tied to shard security.
An additional comment suggested that newer networks, like Redbelly Network, might contend with Hedera.
Powerful Takeaways
⇨ Predictions suggest the total TPS market may exceed 10 million.
⇨ Hedera's fixed fees may place it ahead as demand swells.
⇨ Security issues related to sharding need addressing.
In a rapidly evolving ecosystem, can any other network match rising demands? As the narrative advances, responses indicate a more complex relationship with the future of crypto than merely chasing TPS records.