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Waves wants to end false claims about faster speeds in the blockchain

June 16, 2020

Waves Enterprise has created a framework for blockchain network load testing in real-world scenarios to offer its potential customers more transparency.

Original sin

The ability to trade or the lack of transactions has been a very common discussion in the industry practically from the start. The first known answer to Satoshi Nakamoto’s announcement of Bitcoin (BTC) was on the subject:

“We need such a system, but as far as I know it doesn’t seem to be the size it needs.”

A lot has changed since then, many alternative consensus protocols have been developed, hundreds of licensed and public blockchains have been created. However, The problem of speed and capacity is still somewhat relevantMany of these second and third generation blockchains are much faster than Bitcoin, or at least they claim to be.

Waves wants to end false claims about faster speeds in the blockchainWaves wants to end false claims about faster speeds in the blockchain

The alleged speeds range from a few thousand to millions of transactions per second. Waves Enterprise’s latest initiative aims to accurately estimate the speed of a blockchain in various real-world environments.

Customers deserve to know the truth

Artem Kalikhov, product manager at Waves Enterprise, told Cointelegraph Waves Enterprises has been plagued by unconfirmed claims from its competitors that promise higher speeds.believe that too These false claims hinder adoption. The long-term goal of this initiative is to convey to potential customers that comparing multiple blockchains means that you cannot rely on unfounded claims and instead They need to be tested under conditions that come closer to real life:

“Often these platforms can deliver results that are achieved under conditions that are not similar to a customer’s use case. We try to convey that they (customers) must first find out how transaction capacity is declared is affected by your use case. Let’s take it For example, suppose there are 300 transactions per second, but these transactions are 300 bytes, or we are transferring encrypted data that has to be decrypted and encrypted. This leads to a completely different load on the network “.

Kalikhov realizes that blockchains that knowingly make these unrealistic claims are unlikely to use the framework developed by Waves Enterprise. However, he hopes things will change when potential users of this technology start asking for realistic tests.

More realistic metrics should help blockchain technology become more widely accepted in the business.