31 sats \ 9 replies \ @02bcd3eeb0 22 May \ parent \ on: TPS Counter: help debunk the "7 tps" myth bitcoin
Lol, what a pointless discussion. So when we happen to get 3 full blocks within 2 minutes is that 100 tps?
When bitcoin blocks are found is probabilistic, it only makes sense to talk about averages. There is no such thing as bitcoins instantaneous tx rate.
I count each block as if it took 10 minutes
reply
So then that implies what you are counting is maximum txs per block not per unit time (which would require taking an average)
reply
I average the time because that is not something miners or users can control
How much block space users purchase is controllable, so devs can use that information to design for maximum efficiency
reply
Blocks are full now and have been for months. i.e. users have been purchasing all the space. Apart from the few empty blocks that get mined they are as close to 4M weight units as possible. I'm not seeing why it doesn't make sense to say Bitcoin maxes out at 7tps, when that's what we observe empirically.
reply
Blocks are full now and have been for months
But each user uses block space inefficiently, consuming many inputs and creating many outputs without batching their transactions together with other users. Fixing this through software can increase our throughput closer to bitcoin's maximum, which is far above 7 tps, as demonstrated by the fact that so many blocks do so much better than that.
On a related note:
The average tps in the past 24 hours was 7.65 tps, and 82 blocks in the past 24 hours had more than 7 tps. One even reached 11.95 tps.