XRP Ledger Sees Low Close Time And Massive Pump In Transaction Volume
Something very unexpected happened with Ripple today. XRP Ledger has seen a massive transaction spike on January 23 and it reached the number of 104 transactions per second, fairly higher than the usual number, which is 10 to 20 transactions per second. The ledger closed time was also historically low, 0.50 second.
The lowest the ledger close time is, the faster the transactions are, which has a correlation to the high number of transactions happening per second. Users saw the ledger close time go as down as 0.2 second this day, meaning that the network was really considerably fast.
Obviously, the reaction from the community has been fairly positive, as most users have been impressed by the numbers they saw, which created some optimism for Ripple right now.
Despite this, some people were actually thinking that something was up because Ripple is generally not that faster. Because of this, we have also seen some inquiries on social media whether something was up.
In fact, a similar case has happened on November 20, 2018. At the time, the ledger close time also went down to 0.5 seconds and the transactions went up to 63 transactions per second. While the number may not be considered so big when compared to the heights that the XRP Ledger was able to get today, it was particularly big and attracted some attention as well.
The CTO of Ripple, David Schwartz, has affirmed, at the time of the last speed spike, that it was possible that the network was unable to agree on a close time back then. According to him, the consensus will not wait unless there is a clear agreement on close time as it is not worthy to delay transactions because of this, which may have caused the whole thing.
In fact, the case ended up sparking up some debate on the community both times and some known members of the Ripple community have discussed it.
One of them, @TeholdBeddictXRP, has argued that he has already seen his fair share of jumps in transaction per second and drops in the close time. According to him, these numbers are not necessarily uncommon ones and the fact is that probably just how the data is shown and that the spike in the speed is not real.
Real or not, the spike actually has made plenty of people give their opinions about it, despite the fact that nobody from Ripple has touched the issue yet.