How important are TPS?

[robro]

If we're going for a decentralized blockchain platform - how important are TPS in your opinion?

[neophyte-]

If we're going for a decentralized blockchain platform - how important are TPS in your opinion?

in terms of a decentralised turing complete state machine e.g. dapp cryptocurrencies, in my opinion its everything. the problem is sacrificing scalability and decentralisation. you can get really high TPS with dpos and dbft but then you are centralised. pow is just too slow and is going out the window as a consensus mechanism going forward due to security risks, dPoW is a mitigating solution to this, beating asics is an arms race, monero hash rate just sparked up likely someone figured out their clever asic resistance algo and now there are wild FPGAS out there centralising mining. PoW is fine for currencies but requires more safeguards like dPoW.

however for a giant decentralised computer, like eth, eos etc you need high tps. you want to be able to create an application that can be as fast as possible so you can create dApps that can offer something in the centralised space e.g. decentralised facebook.

[bitmover]

If we're going for a decentralized blockchain platform - how important are TPS in your opinion?

Transactions per second, or tps, is not very important.

You should not worry about scalability until you have a scalability problem.
Scalability became a marketing, basically to fool people into bcash.

What if i told you that I have a website that can handle 1 million users at the same time. Will you go to my website? Ofc not, because that's not important. Coins such as nano, which only offer scalability, are just making money now and offer nothing.

Everytime you see a centralized coin with high tps, ask yourself: why don't I use visa?

[lobo13hf]

If we're going for a decentralized blockchain platform - how important are TPS in your opinion?

It's not so important, TPS is needed to runs dapps platform but this platform must have a lot of demands. If that platform doesn't have a lot of demands and that will be useless. So far TPS will be working when the platforms have a lot of demands but it lacks of scalability.

[thesmallgod]

TPS is an acronyms for Transaction per seconds which mean the speed of transaction. It is very important because it give information about how fast your crypto will be processed and in turn, it also determine how much transaction fee will be used. when you send a coin, you pay a Gas fee which serve as fuel that drive your transaction if the TPS is high, lower gas will be used an lower fee will be charged but when the TPS is low, you willbe charged more transaction fee because you will consume more gas. Low TPS also causes network difficulty.

[feyd27]

If we're going for a decentralized blockchain platform - how important are TPS in your opinion?

i'd say it's quite important. it may happen that the usage of the chain at the very beginning is not high i.e. that the capacity is unused, but it helps (by means of not limiting) development of dApps and implementation for usecases other than payments. e.g. a chain with high tps can be used for data storage, IoT type of data storage, different data tracking. on the other hand, high tps implementation from the very start will help the code dev team to focus on implementation of other features, instead of constantly increasing the transaction throughput as the usage of the coin grows.

[Red-Apple]

it depends on the purpose of the cryptocurrency that you are talking about. and also the number of transactions that it is supposed to handle. for example an unused altcoin that barely handles 10 transactions per day doesn't have to have a high TPS while something like bitcoin which handles 300k-400k transactions per day needs to have a higher TPS.

additionally the usage (being a currency or just a platform or ...) determines the requires TPS. and don't forget that you want to always keep a balance between having the highest TPS while keeping it decentralized.

[Kolikalex55]

If we're going for a decentralized blockchain platform - how important are TPS in your opinion?

TPS is very important ! The recently released Lightning Protocol from Bitcoin has a transaction limit of 60,000 per second, VISA currently processes 2,000 transactions per second, and exchanges execute 80,000 transactions per second.

[masterrex]

If we're going for a decentralized blockchain platform - how important are TPS in your opinion?

Its very important  because it is the way to determined the networks ability to process transaction in the network and if the TPS is not clearly known on any network it can cause trouble in a case of too much transaction is flooding on the network and it can cause the TX fees to climb higher or it can do harm to the network itself. Thats why it needs to be clearly debulge the true TPS on any Network before using it.

[tterrorpipa]

I think it is considered to be the most important part. Because now, the competition for blockchain was the faster transaction speed. Because many blockchain only build only for making transactions more faster.

[watergold]

hi if not decentralized means it's not a blockchain. and decentralization benefits are transparan without 3rd parties so if you use blockchain for TPS I think it's a good thing