Crypterium's 1000 Transactions Per Second Speed - Our Opinion

By Olasupo Okunaiya
In the recent AMA with the CCO, Vladimir Gorbunov, it was revealed that Crypterium has built an infrastructure which is currently capable of processing up to 1000 transactions per second...and promise to have that increased in the nearest future.

We will do a comparism of the transaction speed of Crypterium with other payment technologies and crypto payment methods, in an attempt to understand the importance of this piece of information from Vladimir.

BITCOIN - Due to the limitation of the bitcoin block to 1Mb, the average number of transactions that can be processed per second is just 7. This is too slow to be deployed as a global payment solution on its own, as it would mean people will need to take queues just to have their transcations processed.

ETHEREUM - is a little faster at 20 transactions per second. However, this in itself, just like Bitcoin is not an efficient payment solution.

PAYPAL - This is about 10 times the speed of ethereum at 193 transactions per second. Although, this appears to be quite fast, it is really slow when compared with card solutions like Visa and Mastercard.

VISA - This is a global payment solution and it processes on average 1700 transactions.

In summary, Crypterium processing an average of 1000 transactions per second is a very fantastic speed (for a startup company). Users can be confident that they would not have to wait on queues to get their transactions processed.

Verdict - This is a BIG Positive news.


Thanks for reading, and we hope that the information was useful. Please drop us a comment. We would like to get your contribution and thoughts.



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