0 sats \ 6 replies \ @supertestnet OP 23 May \ parent \ on: TPS Counter: help debunk the "7 tps" myth bitcoin
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
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.
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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.
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I agree it would be fantastic if more wallets enabled you to construct batched transactions. But by your logic, that would result in larger transactions and therefore fewer txs per block, even though people are doing more with a single transaction.
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that depends on how the batching is done. It's possible for multiple people to prepare several transactions off-chain and perform transaction cut through in such a way that only one utxo is consumed on the base layer. That is a form of batching, and lightning channel closures are an example: all the transactions that happened in the channel get "cut through." Only a single utxo is consumed on the base layer, and two new utxos are usually created from it. But that single transaction "includes" a whole batch of transactions that happened inside the channel. I want more stuff like that.
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We all want more stuff like that. But you don't know what is happening off-chain from looking at the chain - it doesn't factor into the number of on-chain transactions in blocks. Some blocks are filled with a single inscription jpeg "transaction".
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But you don't know what is happening off-chain from looking at the chain
I can see that the transactions that are in there don't look optimized. I can make tools to further optimize them, encourage their use, and make websites that help track this stuff so that progress is more measurable.
Some blocks are filled with a single inscription jpeg "transaction"
I want less of that
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