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Author Topic: 30 transactions/second?  (Read 95 times)
tib216
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December 18, 2017, 09:05:54 PM
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I sometimes check the address

https://blockchain.info/unconfirmed-transactions


To see current status of unconfirmed transactions in the BTC blockchain, and i currently see that the average (for the past 24 hours?) has been 29.6 transactions/second.

If the BTC network is limited to around 5 transactions/second how is this possible? I reckon there is some calculation error in the website, is this it?
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kahc
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December 18, 2017, 09:42:08 PM
 #2

I sometimes check the address

https://blockchain.info/unconfirmed-transactions


To see current status of unconfirmed transactions in the BTC blockchain, and i currently see that the average (for the past 24 hours?) has been 29.6 transactions/second.

If the BTC network is limited to around 5 transactions/second how is this possible? I reckon there is some calculation error in the website, is this it?

I can't locate the source where they calculate the transactions per second is, this is the closest I could find right now.
But I don't think the "Transactions Per Second" is per 24 hours, is more like per 10minutes or per several blocks.

If several blocks in succession get solved quicker than the average 10 min solve-time, then the "Transactions Per Second" will rise.

DannyHamilton
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December 18, 2017, 09:45:05 PM
 #3

I sometimes check the address

https://blockchain.info/unconfirmed-transactions


To see current status of unconfirmed transactions in the BTC blockchain, and i currently see that the average (for the past 24 hours?) has been 29.6 transactions/second.

If the BTC network is limited to around 5 transactions/second how is this possible? I reckon there is some calculation error in the website, is this it?

The number of transactions that can be CONFIRMED is an average of about 5 transactions/second.

The number of unconfirmed transactions that can be SENT is MUCH higher.  Certainly hundreds. Probably thousands.


tib216
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December 18, 2017, 10:14:17 PM
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Ah so this is it of course thanks for explaining. I thought that number was the number of transactions that had been confirmed per second. It must then be the number of transactions that have been sent.
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December 19, 2017, 11:56:09 AM
 #5

Transactions per second

BTC = 7
ETH = 15
IOTA = 100 (Tangle not block-chain)
VISA =25,000

I would push the message home by adding transaction fees too but i am sure you get the message.

Playing around with block sizes or times will not make BTC or any other coin using a block-chain
scale to 7.5bn people on average a day doing one transaction

Someone smarter than me needs to go back to the drawing board because this bushiness plan
is not going to work once the Tulips crash and are are back to farming flowers at $0.50 a pop and
having to dig mud again on the farms.

Big Biz has got it's toes in the door as you all know if you want to take a profit and spend it as
fiat paper cash down at the shops in the High street

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
donovank
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December 21, 2017, 10:11:37 PM
 #6

Transactions per second

BTC = 7
ETH = 15
IOTA = 100 (Tangle not block-chain)
VISA =25,000

I would push the message home by adding transaction fees too but i am sure you get the message.

Playing around with block sizes or times will not make BTC or any other coin using a block-chain
scale to 7.5bn people on average a day doing one transaction

Someone smarter than me needs to go back to the drawing board because this bushiness plan
is not going to work once the Tulips crash and are are back to farming flowers at $0.50 a pop and
having to dig mud again on the farms.

Big Biz has got it's toes in the door as you all know if you want to take a profit and spend it as
fiat paper cash down at the shops in the High street

Xtrabytes = 10,000 per second (they are on testnet at 6k already)

The transaction rates have been a huge problem for a longer time in cryptocurrency's. I see threads popping up everywhere about unconfirmed transactions.

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