DEAR Faster TPS
What Makes Blockchain Faster?
Blockchain technology promises to facilitate fast, secure, low-cost international payment processing services (and other transactions) through the use of encrypted distributed ledgers that provide trusted real-time verification of transactions without the need for intermediaries.
Factors influencing the performance of blockchain
Performance of blockchain networks is generally measured as the average time it takes for a transaction to be validated and stored in each peer node in a way that cannot be reversed or revoked.
Less Validator :
Every blockchain has building blocks that are called nodes. They are responsible for holding data but this data needs to be first validated or verified on the blockchain network. That’s where a validator comes into play. The time required to verify a block inside a blockchain can play a crucial role, more validators mean more time- consuming tasks which can increase the average Tps time.
More Network Speed :
In a distributed architecture this is the most important factor affecting the overall performance of the network. When a transaction is to be validated it needs to be broadcast to all the nodes and their response needs to be collated for majority- based consensus. So, having a dedicated network bandwidth goes a long way in minimizing the network delays and improving the overall throughput.
More Computing Power :
The amount of energy consumed by a blockchain or cryptocurrency network depends on its consensus mechanism, determining what information is added to the network ledger. The digital nature of the ledger means that blockchain transactions can be tied to computational logic and in essence programmed and as an evolving technology computational power has become a key role in this situation. More computational power will allow you to guess at a faster speed thus finding the right value faster which will then give you the right to add a ledger to the blockchain.
NOTE :
But a network with less validator is not secure by public interest at all. So to make the network faster we have to have a faster network and More Computing the power which we can’t control.
Decentralization comes at the cost of performance and security. So, these scalability solutions not only need to increase the performance of the network but, at the same time, also maintain all the other desirable properties of the blockchain.
FASTER Transactions per second (TPS) refers to the number of transactions that a network is capable of processing each second. For reference, on a typical day, the Visa Network processes approximately 1400 TPS.
For blockchain protocols, TPS is calculated by dividing the average number of transactions per block by the block time in seconds:
TPS = No. txn. per block ÷ Block time in seconds
The number of transactions per block can be estimated by:
No. txn. per Block = Block size in bytes ÷ average txn. size in bytes
It is important to know that different projects have rationales for defining what qualifies as a transaction, and the answer may vary by protocol. Some projects even count internal messages in their systems as transactions. One might also note that TPS deals with averages. In real-life, some transactions, like simple balance transfers, take far less time to process than EVM-based smart contract transactions, which take measurably longer. The overall lack of standardization already indicates the problems with the expression as a gauge of speed.
The development of technologies that increase the transaction rate of blockchains has been an important area of research over the years. These decentralized networks pose completely new challenges in terms of their ability to scale for increased demand.
So to make the Transaction faster we are working on new technology which will compress the data size and emit the data and other nodes don't even need to decompress the data to verify the block. It will be multi-threaded so as soon as the transaction is emitted and pending in the pool it will be validated by the txn validator block and some unique hash will be given. which will include the proof of 51% majority.
Visit our Website:- www.dearprotocol.io
Telegram :- Dear Protocol
linkedin :- Dear Protocol
