Bitcoin Forum

WOW! Cryptocurrency VS Visa Transaction per second (TPS) comparison.

It looks like, Lightening Network could beat VISA if more nodes are connected and are 100% running.
We have collected this information randomly from Crypto fans. If we missed something, please comment back.

As always, credit: What's On Crypto https://t.me/whatsoncrypto

https://whatsoncrypto.com/wp-content/uploads/2018/07/Transactions-per-seconds-chart-1.jpg

https://whatsoncrypto.com/wp-content/uploads/2018/07/Transactions-per-seconds-chart-2.jpg

https://whatsoncrypto.com/wp-content/uploads/2018/07/Transactions-per-seconds-chart-3-1.jpg

That is capacity...
Would be really interesting and also far more realistic to compare actual transactions made in those chains.

For example, Tron is capable of 2000tx/s but is doing only...20532 a day , 10% compared to bitcoin.

I can create with 10$ a coin that has 10000tx/s capacity...but 0 usage.
Just like all the crapcoins listed there.

This TPS stuff is cool, however I'd still like to know more about the on and off ramps and their capacities.

A trillion TPS isn't much use if only a few thousand a day can actually get in and out.

I'm perfectly happy to admit I know nothing about how LNs work but that's one I'd like spelled out loudly and clearly for me.

Keep in mind, some of those TPS numbers are just theoretical claims. Developers have tested them in a sterile environment with a handful of nodes, but not on the public network with the actual data under the pressure of real transactions competing to be included in the block.

lets not get hung up on tps figures that usually come with other huge and more important things sacrificed.

tps is marketing bullshit for most alts

fully decentralised and trustless is magnitudes more important

btc is still king of crypto either way

I think that Btc + Ln is very similar with Ethereum + Plasma. As we know that Lightining network founder Joseph Poon and Ethereum founder Vitalik Buterin developed Plasma. Through the Sharding and Plasma protocol scaling solutions, Vitalik announced that it could potentially perform 1 million transactions per second and may be possible to developed to perform more than 100 million transactions.

https://www.ccn.com/vitalik-buterin-ethereum-will-eventually-achieve-1-million-transactions-per-second/

Cryptocurrency transaction per second is much faster than visa and speed that can be experienced on blockchain is not something the visa transaction per second be compared too.

I've also heard that Komodo have surpassed Visa in terms of transaction per second (They are very ambitious they were doing a road to 1 million tps lol) so  yeah surpassing Visa in term of technology shouldn't be difficult with cryptocurrency but the main problem is what is the point of being able to do that much transaction when you don't have that much users to perform these transaction initially?In conclusion the main challenge for crypto is adoption before technology.

yeah, we need to solve the TPS business problem soon.. I know there are number of projects like EOS or COTI and others that are trying to solve the scalability issues, it is only a matter of time when they overcome the 24k TPS of visa

I'm so happy about bitcoin have more positive news in different use of bitcoin and compare it for the different kind business using new technologies, hope this good news help for bitcoin got stay in goid price bumping.

It is very unfortunate that the TPS numbers that disclosed to us are just claims made by developers. When they are facing pressure on their network with presence of millions of users are thousands of transactions their capability of handling the pressure won't match with TPS number then. But, there's still hope if there's any advancements.

yeah I am so happy that bitcoin growth is going on a very high rate but I still didn't understand how you are comparing this two thing as per my knowledge I thing this two are from total different platform and it's motive and systems are also separate so that is why I don't thing it is appropriate to compare them

Sad news, the TPS numbers which were announced to us are claims by developers. The pressure is breaking them, as mass amount of users kick in, really hoping for an upgrade.

Theoretically tier two/three/four layers can process 1 billion transactions per second, but that's under perfect circumstance which we in the real world will never be able to replicate.

If LN at some point turns out to process ~10,000 real world transactions per second, we can be sure that it will boost Bitcoin's adoption as currency to record highs.

But seriously, how much more than 10,000 transactions per second do we need? Even 100 is enough to stimulate mass adoption. We have to accept that not everyone in the world will use Bitcoin, just like how not everyone in the world is using PayPal, MasterCard, Visa, etc. Every coin will end up doing the best for its own following, just like how centralized payment services are doing that for their own following.

The most important aspect of evolution in the crypto industry will be to make sure that we can swap from digital currency to digital currency from within our wallet clients, all to avoid dealing with centralized parties.

Transactions per second is a noob metric. If it really mattered Bitcoin wouldn't be able to grow out to where it is right now. People don't *yet* want to spend Bitcoin, they hoard it because it's digital Gold. This is enough utility value for Bitcoin to keep growing. LN is just an expansion to create even more utility value because it will allow Bitcoin to function as money better than ever before.

Just imagine the requirements if a proper internet of things gets going. There'll be billions of machines doing little deals with each other every day. I can imagine that by the time it's mature, lightning networks will be too and it'll be possible to slot them straight in.

I doubt the machines will like the price volatility too much though.

! million tps isn't achievable even within the next few years. Perhaps that would be the operating limit of the LN and if so, it would be impressive if they would be able to showcase that by flooding the market and deploying it through LN. While that may not achieve anything for adoption and whatnot, it still goes to show how far this technology can go if sufficient support from the involved parties is received. I wonder if we'll even reach 30-50k tps sooner since most people only use bitcoin for speculation and literally nothing else.

Since I don't have a clue about altcoin, this Komodo (https://coinmarketcap.com/currencies/komodo/)?
From their own block explorer (https://kmdexplorer.io/blocks) it seems they are doing 3-4 tx a minute (one of them being the new coins minted)  ;D

What's the point of having a 1million tps capacity when your chain is doing 0.03 tps  :D :D

Besides , 1 million tps = 3.6 billions per hour...for what? Of course, marketing, what else!
Visa deals with the Christmas surge at 24 000 tps anything bove 50 000 is useless.


Let's assume the LN has the same amount of txs as  the main chain, it will lead to about 500k tx per day.
To actually reach 50k tps, we would need just a ~ x8500 , increase in usage

From my  opinion both are different from both side. Tps is good but we cannot compare  with btc.

i think thats not the real data, and i think that is the maximum capacity that they can hold? or maybe just speculation of the expert, but we should proud with bitcoin because its has beaten visa in capacity of transaction per second. I hope that someday the maximum capacity can be reached

It does look great, doesn't it? But it's not there yet, and this looks like a bit of speculation to me. Although I bet it's based on some good figures.

The transaction speed is the thing that's holding bitcoin back right now. It's being widely adopted as an investment vehicle, but not so much for exchanges. What coin has the most potential for retail exchanges? How does ripple look in terms of usability for transactions?

If the Lightning Network can even be functional at this level, it will render dozens of coins unusable, and Bitcoin will be even more dominant and consequently more valued. I believe that the next two years are vital for day-to-day acceptance of crypto-currencies as a form of payment.

Visa is not getting 24k TPS, it's not even its full capacity. Visa can handle up to 56k TPS. But in reality, Visa gets about 1.7K TPS.
Also, Visa doesn't work like something comparable with crypto. Each transaction is verified individually, but transactions are sent in a batch later, during the night.

From my point of view transaction speed of cryptocurrency is so much faster than visa and speed that can be practiced on blockchain.  I think Tps is for theoretical claim. Developer trust it because of handful nodes but it not for public network with actual data under the pressure of transaction.

First off, the transaction fees of the crypto currencies are cheaper. And secondly, it is faster because it runs on the blockchain technology. That is the main reason why it is done faster than applying for a visa.

No one cares about actual usability. All they want is more dollars. They will one day perhaps but I think it's a long way away still. That gives plenty of time to get something like this nailed.

Who has told you such nonsense? A few months ago we were paying something like $15-$20 for a single bitcoin transaction, the network was busy as much that it was taking several hours to have the transaction completed. A bank transaction is free (SEPA) a Visa/mastercard transaction is free (the receiver pay the fee) a cheque is free... Bank transactions are instant, it's just that some bank hold the fund until a 24h period or less

Thanks for sharing the information. I'd been wondering about it for some time now, but now I can see the difference.
Really impressive!

These are some news that the media and governments cannot deny about, as a result we are getting to know about bitcoin being legalized and adopted in many countries. Cryptos are famous for their feature of easy and fast transaction which makes them stand out from the crowd. Hopefully, Visa will never be able to catch crypto in terms of ease of transactions.

It's basically assumed by me at this point that Lightning Networks will have to deal with some sort of decentralization tradeoffs. I don't believe it's possible to scale to worldwide levels without tradeoffs in decentralization (so giving away some security and decentralization in order to achieve that).

This may make sense for smaller transactions, unimportant stuff. Im yet to see an answer of how closing and opening LN channels is going to work with when fees are too high.

Of course this doesn't mean any altcoin is any better, they are scams. This also doesn't mean Bitcoin will not win as a decentralized digital gold long term, with or without LN on top. This is what a lot of noobs don't get, they end up selling because they think "oh well Bitcoin is dead, it will not scale after all".

Wow! This really great to see the progress of Cryptocurrency. I also think that if more nodes are added to the Lightning network, it would certainly beat Visa.     

I can still do zero confirmation transactions with my local Coffee shop, so I am sorted. Thanks.  8) <SegWit2SegWit>

The Lightning Network is currently "throttled" and not running at full capacity. <Limits on transaction size>, so we cannot make a direct comparison now, but things are moving very fast. I saw last night on Reddit that the LN network = 119x growth from 61 to 7246 channels in 6 months.

Just remember that the Lightning Network is more focussed on micro transactions.  ;)

It is a matter of time before the community fully adopt the lightning network. With the growing number of people using Bitcoin, faster transactions are a must. I expect it will be fully operational around mid-2019.

You do not need to compare them, everyone had their own destiny, when they were created.

Unfortunately, not yet. They are well on their way there and soon will be easy and fast, but at the moment, visa has crypto beat. You can see above how well they transact right now. But, once the lightening network is established, then yet, crypto will probably have them beat. Assuming visa doesn't come up with some kind of lightening network of their own.

Card payments can be quite expensive actually. I know the introductory rate for taking cards online is 3.5% + $0.35 per transaction, which is quite high (but not as bad as those criminals over at PayPal). Once a merchant starts taking hundreds or thousands I'm sure they get lower, but still. It's not cheap.

I did not expect, it turned out that VISA had an incredible transfer speed
even cryptocurrency other than BTC is defeated by VISA
I think it's true, the world is right to choose VISA as an international payment instrument

 Future bitcoin softfork's solutions should solve the scalability problem. Also in perspective, coins of 3 generations will be faster than VISA payment system

One thing that still bugs me, is what would happen if we had 100000's of channels opening and closing and settling their balance on-chain. Will the Bitcoin Blockchain be able to handle all those transactions, if that happens in the future? We have to remember that those millions of tx's are happening off-chain on a 2cnd layer, but at one stage these channels will be opened and closed to settle the balance and this is when this will become interesting.

A couple of bad actors can create multiple channels and synchronise a spam attack by opening and closing these channels at the same time. <Yes, this might be an expensive attack> ::) :-\

Why would they go to the trouble of opening and closing channels when they could simply spam the network again with normal transactions? Either way, it will still have the same effect.

It all depends on the availability of stuff on the LN, if people just open and close channels....it's not going to be a nice picture. But fortunately, it doesn't seem like being the case as activity picks up in the LN without seeing an increase in the main chain.

True, I guess you can still cripple Bitcoin if you have enough money to spam the Network, but the congestion is much less now, since the Lightning Network and SegWit has been introduced. Somehow I thought opening & closing channels would have been cheaper to do, because your transaction size would be smaller, but I will have to do a bit more research on this before I can validate my own statement.

Thank you for pointing that out, I never even considered it properly.  ::)

    Hey roadwell890! The problem for Visa and Mastercard is that the networks are built on already ancient infrastructure and soon to be ancient ideology. Crypto payments is an entirely different animal and the traditional payment networks have no real competitive advantage.  :-\

That's because everyone has been using VISA since time immemorial, whereas bitcoin is only 10 years old, it's natural for those who use it a little. As time goes by I'm sure bitcoin will be in first place.