As a seasoned crypto investor with a decade of experience under my belt, I find David Schwartz’s recent insights into the scalability potential of XRP Ledger particularly intriguing. His emphasis on the role of future improvements in CPUs, storage, networking, and internal architecture to potentially reach TPS levels of 50,000 is both exciting and realistic.
Responding to a query about the XRP Ledger’s transaction capacity, Ripple‘s Chief Technology Officer, David Schwartz, discussed the ledger’s potential for handling transactions per second (TPS). User Chad Steingraber had inquired whether it was accurate that the XRP Ledger, with optimization, could theoretically process as many as 50,000 TPS.
As an analyst, I can envision that advancements in CPU performance, storage capacity, network speed, and internal system design could potentially elevate the transaction processing speed (TPS) to such remarkable heights: “It’s quite feasible to picture future improvements in CPUs, storage, networking, and system architecture leading to TPS levels as high as this.
It’s not difficult to envision that advancements in CPUs, storage, networking, and internal structure could increase the theoretical transaction processing speed (TPS) to such levels.
— David “JoelKatz” Schwartz (@JoelKatz) December 18, 2024
The Ripple CTO feels that TPS is great for bragging about and that having spare TPS allows computationally intensive features to be implemented.
Schwartz pointed out that since XRPL might have hit its computational maximum, it couldn’t have incorporated an Automated Market Maker (AMM) and likewise, wouldn’t be able to add programmability in such a case. In essence, he emphasized the importance of having spare capacity for future development, a concept he referred to as room for evolution.
Here’s twist
Even though there are advantages, Schwartz pointed out the significant downsides when operating a layer-1 blockchain under high transaction per second (TPS) rates.
Enhancing Transaction Per Second (TPS) could potentially cause an upward trend in costs associated with bandwidth, storage, and processing power for all involved parties. Such cost hikes might make it less financially beneficial for more individuals to operate a node, thereby decreasing the total number of nodes. A smaller node count would force more users to depend on other nodes, thereby weakening the decentralization – a fundamental aspect of blockchain technology.
As a crypto investor, I’m thrilled about the global debut of Ripple USD (RLUSD) stablecoin yesterday, which marks a substantial step forward in the digital currency world. Initially, it will be available on platforms like Uphold, Bitso, MoonPay, Archax, and CoinMENA. In the upcoming weeks, I anticipate seeing it listed on other platforms such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, Zero Hash, and more.
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2024-12-18 18:06