AELF TestNet Results at 14,968 TPS Comes Close to Visa TPS
Decentralized cloud computing blockchain network, Aelf took to its Twitter platform on Wednesday, August 8 to share the news that its first TestNet (v1.0) resulted in 14,968 transactions per second. The TestNet launch was first revealed sometime in July, and since then, the team was allegedly hard at work to enhance the Aelf ecosystem.
This is an important development in the commercialized application of public chains. These results were highly successful in verifying the effective performance of both the parallel computing and potentials for scalability.https://t.co/vzrYmRoJBH
— ælf (@aelfblockchain) August 8, 2018
In a Medium post shared by the Aelf team, some of the improvements made thus far include that of the:
“transaction pool structure, network modules, consensus modules and cluster capabilities.”
What does a high transaction per second imply? This is how the problem of scalability can be resolved, as current blockchains are having a hard time initiating efficient transaction protocols. To show the drastic growth Aelf has achieved in a month’s time, its 15,000 TPS is a great deal compared to Bitcoin’s measly 3 to 7 transactions per second. Visa known for being the largest payments processor, is only capable of supporting 8,000 transactions per second (24,000 Max).
Co-Founder and COO of Aelf, Zhuling Chen has expressed immeasurable joy in what his blockchain was capable of doing in a short time. In particular, Chen said:
“We have hit 15,000 TPS, and this is just the beginning. Imagine where we will be in 6 or 12 months’ time!”
According to the Aelf team, the TestNet results are only the beginning and can be considered the foundation to their goal of launching a MainNet in the first quarter of 2019. In addition, their ability to scale allows them to be a step closer towards promoting commercial adoption of blockchain technology.
At the time of writing, CoinMarketCap’s statistics report that Aelf’s native token, ELF, as currently sitting at a value of USD$0.35, which is down from its all-time high of USD$2.02.