An update from RADIX[1] shows that their trustless blockchain can process 1 billion transactions per week, shown below in Figure 1 and Figure 2 and they claimed their blockchain is the fastest trustless blockchain (world record for DLT running on a trustless protocol).

Figure 1: RADIX testnet performance
Figure 2
Figure 3: ZILLIQA Testnet Speed

Is RADIX really the fastest public trustless blockchain? ZILLIQA[2] is also a trustless, permissionless, decentralised public blockchain which is using innovative sharding technology and pBFT consensus protocol. Is ZILLIQA faster or slower than RADIX?

ZILLIQA testnet now running at 2488 TX/sec (Figure 3) with 3600 nodes, which is equivalent to (604800*2488=) 1,504,742,400 TX/week. (1 week has 604800 seconds), more than 1.5 billions transactions per week. This is a lot more than RADIX, and thus ZILLIQA is actually the fastest public blockchain based on trustless and permissionless protocol, and not RADIX!

Do note that as the number of ZILLIQA nodes increase, the number of transactions per second also increase linearly. ZILLIQA can thus easily increase the throughput into 10,000 TX/sec with more nodes and even up to a maximum of 1,000,000 TX/sec, that will put ZILLIQA blockchain capacity to 604,800,000,000, that is 604.8 billions TX/week, or about 600 times more than what RADIX can do! RADIX is not using sharding technology and thus it can’t scale like ZILLIQA.

One must note that other projects that claims 1 million transaction per second are not trustless, permissionless and decentralised blockchain. Examples are Credits[3] (no mining, DPOS) , Universa[4] (nodes in the Universa system must be licensed and authorized by Universa Corporation and owned and operated by their partners), EOS[5] (only 21 DPOS nodes), Oracle Network[6] (only 25 pre-selected validators), and many others. Most of these high speed blockchains are using DPOS where only a few nodes are selected as verification nodes, and thus can achieve very high speed because of relatively few nodes compared to decentralised blockchains such as ZILLIQA, Bitcoin or Ethereum which has more than 10,000 nodes!

Please do your own research, read their whitepapers to understand the technology behind and more importantly, a blockchain should be trustless, permissionless and decentralised, which means it should has at least thousands of nodes, and not a few nodes controlled by few individuals only. And the nodes should also be distributed evenly across the globe to limit the influence by certain group or organization, and certainly these nodes must not need any permission from anyone or any organization to become a node!

Read my article about the difference between Permissioned and Permissionless Blockchains [7].



Source link
Show More

Leave a Reply

Pin It on Pinterest

Share This

Share this post with your friends!