Matic, the blockchain platform based on scalable and instantaneous transactions, claims that its network can overload the Ethereum ecosystem, this after a two-month test that revealed the platform was capable of processing 7,2000 transactions per second (TPS).
In a July 14 Matic Network blog post, the project reported that it had tested its Counter Stake CS-2008 testnet, which could „reliably handle a performance level of 7,200 TPS.
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According to the blog, this operation could be extrapolated to Matic’s main network, which uses the same architecture. Matic confirmed that 122 validators were part of the testnet and were able to activate and run validators with sentry nodes:
„The current performance capability of the network in its current state means that Matic can be instrumental in helping the Ethereum ecosystem overcome its performance limitations and reach its full potential“.
Delivering scalability before the launch of ETH 2.0
The „performance limitations“ referred to are the scalability issues faced by the current Ethereum network, which can only process a small number of transactions per second. The Ethereum 2.0 will solve the scalability problem, however, phase 0 seems to be delayed until early 2021 and will take years to reach its maximum performance. There is an urgent need for a scalability solution in the interim.
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During this year, the network has faced significant congestion due to the popularity of Tether (USDT) and the growth of DeFi projects, resulting in increased transaction rates. Recently, Ethereum increased the maximum amount of gas allowed per block in its block chain to allow the network to process a greater number of transactions.
Second layer and not the best
Matic Network is based on the Plasma project and provides an alternative proof of concept (PoS) of the Bitcoin Up based on an adapted version of the same technology.
This, in turn, uses a decentralized network of stakers that have been deposited by Matic to act as control points between the two blockchain platforms. This method makes it possible to obtain a cheaper, faster and higher volume of TPS in the second network, which can then be placed in the Ethereum network.
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Other projects are working on second layer solutions to effectively decongest the Ethereum network. OMG Network, a plasma-based Ethereum side chain, announced in June that Tether, the main gas consumer in the block chain, would operate in its second layer infrastructure.