Founder Dan Larimer Says EOS Blockchain can Process 1,000 Sustainable TPS and Up to 3,000 in All

After creating a ripple in the market through his pre-teaser that EOS has big things coming in the next few months and condemning other cryptos viz. Litecoin, Cardano, and Ethereum, Dan Larimer, the CTO of Block.One took to Twitter to engage the community on TPS.

He asked the community their preference when it comes to a blockchain that processed 10,000 transactions per second or sidechains that collectively processes 10k TPS.

In response to a user pointing out the last year's report claiming EOS performs only 50 TPS, Larimer commented,

“Our tests show over 1000 sustainable tps and in some cases over 3000.”

Back in July, Larimer had tweeted that EOS was performing over 2,300 TPS. However, Whiteblock, a blockchain testing company published the results of the first independent testing of the EOS software reporting, with real-world conditions, EOS performance was below 50 TPS that put its system in “close proximity” to the Ethereum’s performance.

It had also stated that EOS is not a blockchain either, rather a “distributed homogeneous database management system”, due to the fact that their transactions are not cryptographically validated.

Majority of the responses to Larimer’s original question has been the sidechains. Sidechains are basically extensions of the existing blockchains that enhance their functionality and capabilities and allow the seamless transfers of assets on blockchains. One enthusiast said:

“500 side chains that each process 10,000 tps,” to this, Larimer commented, “While we are making up options.. how about 1 chain doing 5m tps?”

EOS Tops the Market

After being at the first position in China’s blockchain ranking for 10 times in a row, Weiss Ratings in its latest annual report gave it a grade A stating:

“EOS is the leading coin challenging Ethereum to become the backbone of the new internet.”

Talking about its stats, Weiss Ratings shared that the daily on-chain transactions of EOS grew from $7k in February 2018 to about $4.6 million this month. This has been 14 times more volume than the top cryptocurrency Bitcoin and about eight times more than Ethereum’s reported Weiss Ratings.

Furthermore, the top spot in terms of user transaction that was previously occupied by Steem (that too founded by Dan Larimer) with 1.56 million per day in February 2018, has been now replaced by EOS with 4.56 million.

EOS up 60 percent in 2019

On the price front, EOS is doing extremely well. At the time of writing, it has been trading at $4.09 with 24-hours gains of 12.20 percent. In the BTC market as well, it is up by 8.65 percent, as per the data provided by Coinmarketcap.

EOS Price, Source: Coinmarketcap

Since entering into this year, EOS is up nearly 60 percent, going from $2.96 to the current $4.09. The fifth largest cryptocurrency by market cap of $3.7 billion is currently managing the daily trading volume of $2.7 billion.

Today's Top Cryptocurrency Predictions: BTC, ETH, EOS, and XRP Technical Analysis

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

The Good and Bad of the Crypto Going Public

This week, big news came in the form of crypto businesses that are planning to go public either later this year or next year. Crypto...

US Secret Service Has Modernized Its Role in Tackling Financial Crimes in The Crypto Era

The role of the US Secret Service, whose purpose extends from protecting the US President Trump to protecting the US financial systems, has...

Bitcoin is in a ‘Consolidation Zone,' We’ll Move to $14,000 Once BTC Gets Above $10k: Mike Novogratz

Bitcoin is about system change, said Mike Novogratz, CEO of Galaxy Digital, in his latest interview with Barron’s Carleton English. While talking about the catalysts...

Volvo Invests In Blockchain Traceability Startup Circulor To Track Cobalt Supply Chain

Volvo Cars Tech Fund, a subsidiary of Volvo, announced its investment in blockchain traceability firm Circulor on July 8. The popular carmakers have used...

Blockchain Developer Platform Releases Alchemy Build, A Tool Suite for Faster Production

Alchemy, a blockchain startup, focuses on building developers' tools to help them become more productive and focus more on actual product development. The blockchain...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today