- Ethereum scaling solution A new blockchain introduced by Turbo Protocol is purportedly able to perform 400,000 transactions in a second.
- The project targets computation-intensive applications in the decentralized AI, gaming, and social verticals while experimenting with parallel transaction processing.
Ethereum scaling solution: ETH + 1.04% At the Blockchain Application Stanford Summit on Tuesday, the team behind Turbo Protocol revealed the creation of a new blockchain that is purportedly able to process 400,000 transactions per second, or almost 4,000 times quicker than a high-throughput chain like Solana.
According to a news release from the Turbo team, the project is one of several new initiatives experimenting with parallel transaction processing, or the process of recording several transactions simultaneously rather than sequentially as it is done on Ethereum at the moment.
Comparatively, the base layer of Ethereum handles 20 to 30 transactions per second, rival network Solana just over 1,000, and international payments provider Visa settles over 24,000 in a comparable amount of time.
During a presentation at the Blockchain Application Stanford Summit in New York City, Turbo CEO Aaron Greenblatt showed off the live blockchain and mentioned that apps that come out on the Layer 2 network won’t have to fight for Ethereum gas fees.
Turbo Protocol can be used by any web3 project that wants to shift complex processing tasks onto the blockchain, according to Greenblatt. Projects in the decentralized AI, gaming, and social sectors might fall within that category.
Due to its lengthy transaction processing time and frequent times of high fees, Ethereum has been limited since its inception in 2015. This is because users must fight to have their transactions permanently included in a block.
A variety of strategies are being used by Layer 2 networks, such as Turbo, Optimism, and Polygon, among others, to develop more effective blockchain platforms where batches of transactions are eventually rolled up onto the main Ethereum blockchain.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
