Testnet of Facebook’s Much Vaunted Stablecoin Only Executes 6 Transactions pe...
The Facebook fronted stablecoin, Diem (formerly Libra)’s dismal testnet results undercut the assertion that the digital currency is a threat to global financial stability. This is the conclusion that can be deduced from a Diem blockchain explorer update which shows the network only processes an average of six transactions per second (tps), with the highest reported figure of 24 tps. The testnet for Diem has been live for more than 43 days at the time of writing. The stablecoin performance suggests more still needs to be done before the expected launch in 2021, if the coin’s....
Related News
Bitcoin Core’s scaling solution Segregated Witness (Segwit) will likely support 1.7 MB bitcoin blocks when activated, testnet experiments have revealed. According to Smartbit, a bitcoin testnet data provider, Segwit is currently able to process 1.7 MB blocks on the bitcoin testnet, with more than 8,865 transactions. The current bitcoin blockchain capped with a 1 MB block size can only handle around 2,500 transactions. However, the transactions processed on the testnet were p2pkh transactions. Although the standard 1 MB blocks are limited to process around 2,500 transactions, they can still....
The long-awaited Ethereum Merge is much closer than anticipated. The Ropsten testnet will implement its unique Merge to offer app developers a taste of what the future looks like with the Layer 2 Ethereum implementation. The Ethereum Foundation has progressed one step further in implementing the Proof of Stake consensus algorithm. By the partial deployment […]
In response to a letter from the U.S. calling on Facebook to halt its stablecoin and crypto wallet projects, Diem stated that it “is not Facebook. We are an independent organization” Stablecoin project Diem has distanced itself from its Facebook in response to Democrat Senators calling for the immediate cessation of the firm’s Novi crypto wallet.Diem also claimed senior regulators had called it “the best-designed stablecoin project that the U.S. government had seen.”In an Oct. 19 letter sent to Facebook CEO Mark Zuckerberg, the Senators including crypto critic Elizabeth Warren, voiced....
Concordium, the enterprise blockchain focused on delivering DLT to businesses at scale, has launched its third testnet. As the project approaches its mainnet release, an incentive program has also been created, promising to reward developers and community members who participate in Concordium’s third testnet of 2020. On October 6, the latest testnet went live, with […]
Concordium, the enterprise blockchain focused on delivering DLT to businesses at scale, has launched its third testnet. As the project approaches its mainnet release, an incentive program has also been created, promising to reward developers and community members who participate in Concordium’s third testnet of 2020. On October 6, the latest testnet went live, with […]