Transaction speed

  • Jlat
    Participant
    # 1 year, 3 months ago

    What is the estimated transaction speed?

  • Admin
    Keymaster
    # 1 year, 3 months ago

    Hi Jlat,
    We had some discussions on TPS. It is a tricky subject because every blockhain has its own criteria. What is TPS ? transactions added to the ledger? transactions created? transactions validated? The global average speed of internet is 6Mb per second, less than 1MB. If you want ot create a worldwide blockchain with a real distributed system, this technical limit is the first you will reach. Computing transaction is not difficult. If you want to validate a deep calculation on a mathemaical subject, it could be more tricky. And then, the next question is : is there an interest in the real time validation of a transaction ? This technical limit is the same for all the blockchains. So the difference is in the time to process informations. To give you a number, we have tested our consensus (calculation of entropy, entalpy and integrity) and the result is that a medium power laptop can process 60,000,000 transactions within a minute. The performance measurements have to be, always, made in the context of the whole consensus operation. Just to give you some benchmarks, for Visa system, they actually expect 65. 000 tx/s in theory. .
    https://usa.visa.com/dam/VCOM/global/about-visa/documents/visa-facts-figures-jan-2017.pdf
    Another metric we have to consider is the volume of transaction in a block. In NeuroChain, this parameter is adjustable depending on the sytem evolution. the Block-size is an important parameter for the network operation and for its security Machine Learning will continously improve velocity of NeuroChain.

  • Admin
    Keymaster
    # 1 year, 3 months ago

    Question from Ivan, Ivan on Tech interview

    Q Ivan: What kind of capacity will the network have? How will the scalability issues be compared with ethereum today, or how many transactions per second (TPS) can we get? How can we get any feel, for what kind of applications this system will be able to handle.

    A Billal: The TPS question is something we get a lot, it’s the golden question. We’ve actually made several tests with our mvp her in paris. We actually reached 1 million tps, but we have to explain what that means. For example, you can find on wikipedia that visa transactions are 65k tps and that’s enough for all customers worldwide. A lot of blockchain projects are claiming they can reach 1m or 2 m tps, but what do they actually mean with tps? From the first step of the transaction, I omit a transaction, it will go to the network, it gets validated by the old board, after that goes to the blog, and after I write in the blockchain etc. We have to be more precise, because in our protocol we solve the problem of selection and election. The problem with the consensus of bitcoin and ethereum, is that they are using proof of work. Proof of work is not a consensus algorithm for selection. I will select or elect the node that will validate the block, but this will take a lot of time. You need to use hash function the first time, then you need to inverse the hash. This will take a lot of time, because it’s a brute force approach. For neurochain it’s based on thermodynamics and integrity. It’s only calculations and it will take less than a second to calculate all the parameters of all the bots in the network. To conclude, yes we solved the problem of selection and election. This means that we don’t have a problem of performance. The number of transactions, that I can include in the network depends on the size of the block.

    Bruno: The energy issue that the blockchain is experimenting with right now, is something that we have in our address merely. One by speed and second by the different type of consensus, it will take a lot less energy. Your phone could even be holding a bot and create the whole consensus, without using huge machines.

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