Transactions Per Second (TPS) 🔥
I was reading through a layer 1 blockchain's litepaper (Shardium) and paused on this chart as I thought it was interesting to see where blockchains stack up with well-known companies and protocols.
Quick breakdown of Shardium's litepaper
I’m not an investor or endorsing this in any direction.
Shardium’s key point is this: there are all these smart founders building products and improvements designed to increase TPS (transactions per second). These are working to a degree but what they fail to understand is by using this approach, there will always be a ceiling for TPS. The approach is referred to as vertical scaling — improving aspects vertically up the stack and improving existing overhead e.g. making nodes faster and cheaper to run.
The approach Shardium thinks is better, uses something called dynamic state sharding to increase TPS by intentionally overlapping the responsibilities of each node so they (the nodes) can move to meet the demand where ever it is.
Nischal Shetty is one of the founders of Shardium. Nischal was the founder and CEO of WazirX, India’s largest crypto exchange with over 10 million users.
This is an extremely high-level description…if Shardium gets traction maybe we’ll write a more in-depth version 😝