The BSV Teranode Testnet reached 50.000 TX/Second to meet global demand.
Blockchain is a ledger of transfers – but it doesn’t have to be only about the digital assets. It records any type of data transfer and this opens up many new possibilities, especially as Bitcoin SV has taken down the limits of speed and scalability.
With this solved, Bitcoin SV has delimited it’s throughput and can now, for example, track all actions of thousands of IOT (Internet of Things) devices working as one network, exchanging data constantly.
It must be noted that this throughput is correlated currently to security, so if the transactions are small and don’t require any type of signature or verification, like IOT data tracking, it’s easy for them to reach high TPS (Transactions per second).
The BSV network has extremely high throughput rates – demonstrating 50,000 transaction per second throughput in 2021 during a live test. The VISA network, for example, routinely processes about 2k txn/s and at peaks 50k txn/s globally whilst BTC tops out at just 7 txn/s.