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The Most Epic TPS Frenzy EVER: Ethereum Scaler Claims 12K Transactions Per Second (But We All Know What’ll Happen Next)

Crypto NewsEthereumFeatured 2 Doug Martinez September 9, 2024

A blockchain network with a smiling face and arms outstretched in excitement. A crowd of people are gathered around it, each holding their phone or tablet and tapping away at the screen. The background is filled with tiny transaction blocks flying by like confetti, as numbers (12K) flash on the screen above.

Yeah right, because what we really need is another Ethereum scaler trying to be the ‘first fast’ one. Like it’s a competition or something. Rushi Manche and his Movement Labs crew are claiming their testnet has reached an impressive 12K TPS (transactions per second), which they say could theoretically do up to 30-50 thousand if only more people used it. Because, you know, the problem with Ethereum scalers is that there just aren’t enough users trying to process transactions at once. It’s not like high energy usage or transaction fees are a thing on these networks… Moving right along! The co-founder of Movement Labs credits their speed to Facebook’s abandoned crypto project Diem and its programming language Move, which can supposedly execute multiple transactions concurrently. Because what could possibly go wrong with using an untested tech from a failed experiment? I mean, it’s not like we’ve seen this play out before in the world of cryptocurrency… Stay tuned for more!.

Source: cointelegraph

‘First fast’ Ethereum scaler Movement peaks at 12K TPS on testnet
https://cointelegraph.com/news/ethereum-l2-blockchain-movement-claims-12k-tps-testnet
Ethereum layer-2 blockchain Movement is aiming to be the “first fast” Ethereum scaler, with its co-founder claiming the network can process nearly double the number of transactions a second compared to its fastest rival at its peak. Movement’s testnet, launched on July 30, had reached a peak of “over 12,000” transactions per second (TPS) and “in theory, could do 30 to 50 thousand,” Movement Labs co-founder Rushi Manche told Cointelegraph […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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