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<p><strong>Introduction:</strong></p><p>In the ever-evolving landscape of blockchain technology, the race for supremacy is often portrayed through the lens of Transactions per Second (TPS). However, a critical factor that demands our attention is the Time to Finality (TTF). In this article, we delve into the significance of TPS versus Time to Finality, exploring the speed-focused blockchains of Solana, Aptos, Avalanche, and Fantom.</p><h2 id="header-0"><strong>Calculating TPS:</strong></h2><p>What is the fastest blockchain? It all depends on how you define speed. Projects usually advertise their high processing capacity, or “throughput”, measured in transactions per second (tps). This measures the number of transactions that all of the network’s nodes can commit in a second. You can approximately calculate TPS this way:</p><p>TPS &#61; (number of tx in a block)/(block time in seconds)</p><p>For example, a Bitcoin block contains around 1,700 transactions and takes 10 minutes or 600 seconds to mine. From this, we get a TPS of 1,700/600 &#61; 2.83. Some blocks reach 2,500 transactions, though, so the peak TPS would be 2,500/600 &#61; 4.17</p><p>Ethereum churns out a block every 13 seconds, but the gas limit is 30 million gas per block (15m being the target). The minimum gas per transaction is 21,000, so the maximum you can fit is 30,000,000/21,000 &#61; 1428. In reality it’s much fewer, because smart contract interactions require much more gas; the average works out around 11.8 tps.</p><p>A blockchain that crams lots of transactions into a single block and commits blocks quickly can have a very high TPS, but that does not necessarily mean faster processing for the end user.</p><h2 id="header-1"><strong>Understanding Time to Finality:</strong></h2><p>While TPS measures the throughput of a blockchain network, what truly defines its processing speed is the Time to Finality (TTF). In many blockchains, including Bitcoin and Ethereum, the concept of probabilistic finality is prevalent. This implies that although a transaction can theoretically be reversed in the initial blocks, as subsequent blocks are added, the probability of reversal decreases rapidly.</p><p>The &#39;blocks to finality&#39; is the number of blocks required to ensure a transaction won&#39;t be rolled back, and the &#39;time to finality&#39; is the time needed to create these blocks. For example, Bitcoin requires 6 blocks (60 minutes) for finality, while Ethereum needs 6 blocks (78 seconds) due to its shorter block time.</p><h2 id="header-2"><strong>Deterministic Finality:</strong></h2><p>In contrast to probabilistic finality, certain blockchains, such as Aptos, operate on deterministic finality. This means that once a transaction is confirmed, it cannot be rolled back. Aptos achieves finality with just one block, resulting in a remarkably short time-to-finality.</p><p>For this article, we&#39;ve chosen multiple blockchains boasting a TPS below 5 seconds, a remarkable feat in terms of speed. Our analysis will delve into a comprehensive comparison of their TPS and time to finality, aiming to unravel the nuances of speed measurement, both in theory and practical application. We&#39;ll explore how this speed is communicated to the public and examine whether speed alone is sufficient for success in the dynamic blockchain industry.<br /></p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/9b9f2bd619594757b761c0388b2a88b8.png" /><h2 id="header-3"><br /><strong>Solana: Processes 2,000 transactions per second, but sometimes experiences blackouts.</strong></h2><p>Solana is known for handling an impressive 2,000 transactions per second (tps), but it faces practical challenges. Despite claiming a theoretical limit of 710k tps, the network often experiences disruptions lasting over 24 hours.</p><p><strong>Key Points:</strong></p><ul><li>In May 2018, Solana&#39;s initial lab tests showed an outstanding 400,000 tps.</li><li>The live testnet in early 2020 achieved 56,000 tps, and subsequent tests in May 2020 reached 111k tps with 50 nodes.</li><li>The theoretical limit of 710k tps, mentioned in the White Paper, remains mostly theoretical due to real-world constraints.</li><li>In reality, Solana usually processes an average of 1,800–2,500 tps, but opinions on time to finality vary.</li><li>The network&#39;s inconsistent performance and vulnerability to congestion-induced blackouts impact user experience and contribute to market fluctuations.</li><li>Notable incidents, like the 17-hour outage in September 2022 during Grape Protocol&#39;s IDO, raise concerns about the network&#39;s resilience.</li><li>Despite its high processing capacity, Solana&#39;s challenges highlight the importance of reliability in blockchain networks.</li></ul><h2 id="header-4"><strong>Aptos: a 160,000 TPS blockchain with sub-second finality.</strong></h2><ul><li>Aptos is currently on a testnet, with the incentivized testnet registration opening on May 13.</li><li>The testnet phase, until August 2022, focuses on testing staking rewards, delegation, transaction costs, and governance.</li><li>Aptos aims for 100k&#43; transactions per second (tps) and sub-second transaction finality on the mainnet.</li><li>Pontem is the first to build open-source Aptos-first dApps using Move, leveraging their years of experience with Move and Move VM.</li><li>Pontem and Aptos are collaborating to create a full ecosystem, starting with the development of the first AMM on Aptos.</li><li>Developers interested in experimenting with Move and Aptos can check out the DevNet page for resources and opportunities.</li></ul><h2 id="header-5"><strong>Avalanche :</strong></h2><ul><li>Avalanche achieved early sub-second finality in its network.</li><li>The ecosystem comprises three subnets: X-chain for assets, P-chain for Snowman consensus, and C-chain for smart contracts (compatible with Ethereum Virtual Machine).</li><li>Each subnet claims up to 4,500 transactions per second (TPS).</li><li>Avalanche&#39;s strength lies in rapid transaction finality, demonstrated with sub-second results on the C-Chain.</li><li>The C-Chain employs a consensus mechanism involving 25 rounds of polls among validators for quick decisions.</li><li>While sub-second results were achieved under optimal conditions, real-life tests show 1.3–3.4 seconds.</li><li>High gas fees and congestion on the C-Chain are attributed to play-to-earn games like Crabada.</li><li>Crabada alone contributes to 16% of the network&#39;s gas usage.</li><li>To address congestion, Crabada announced its move to a dedicated subnet on May 4, aiming to alleviate high gas fees for Avalanche users.</li></ul><h2 id="header-6"><strong>Why Time to Finality Matters:</strong></h2><p>While crypto media often emphasizes high TPS as a measure of blockchain speed, regular users should focus on time to finality. It is only when a transaction reaches finality that users can witness tangible results, whether it&#39;s a deposit on a crypto exchange, a minted NFT, or a payment settlement.</p><p><strong>Conclusion:</strong></p><p>In the competitive realm of blockchain technology, understanding the nuances between TPS and Time to Finality is crucial. As we evaluate speed-focused blockchains like Solana, Aptos, Avalanche, and Fantom, it becomes evident that the real measure of efficiency lies in the time it takes for a transaction to become final. As users seek faster and more reliable blockchain solutions, the emphasis on Time to Finality is poised to reshape the narrative of blockchain speed.</p><p>If you&#39;d like to learn more about UNS, please visit our <a href="https://uns.technology/" rel="noopener noreferrer nofollow">page</a> to discover valuable information and insights about our organisation.</p><p>If you have any questions, are interested in partnership opportunities, or encounter any issues, please don&#39;t hesitate to contact us at info&#64;uns.technology.</p>

Navigating Blockchain Speed : Prioritizing Time to Finality Over Transactions per Second

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