2024-08-07
Turbo Protocol - Interactive Speed Ethereum / Crypto for AI
The Ethereum scaling solution Turbo
Protocol has launched a new blockchain that is reportedly capable of processing
an impressive 400,000 transactions per second.
This development was announced at the
Blockchain Application Stanford Summit held on August 6, 2024.
The new network aims to outpace the
current transaction speeds of other Ethereum layer-2 and even high-throughput
chains like Solana.
During the Blockchain Application
Stanford Summit, Turbo CEO Aaron Greenblatt showcased the live blockchain,
which is said to handle up to 400,000 transactions per second. This
demonstration took place at Columbia University’s Lerner Hall as part of the
summit’s events.
The Turbo Protocol is utilizing a
method known as parallel transaction processing, which allows for multiple
transactions to be recorded concurrently, rather than sequentially as is the
case with Ethereum’s current system.
This approach is particularly
beneficial for computation-heavy applications in sectors like decentralized AI,
gaming, and social verticals.
The Ethereum base layer processes about
20 to 30 transactions per second in which it often processes only about 12-15 TPS,
while Solana currently handles about 3,800 TPS.
In comparison, global payments company
Visa settles about 24,000 transactions in the same timeframe.
The Turbo Protocol’s claimed speed
represents a significant leap forward in blockchain technology and could open
up new possibilities for web3 projects looking to move large computational
workloads on-chain.
The Turbo Protocol blockchain is
an advancement in Ethereum’s scaling solution. It aims to address
longstanding concerns about transaction speed and scalability of Ethereum.
