One often heard criticism is how the Bitcoin network can’t process many transactions. Its current TPS limit remains relatively low, but it is still higher than Litecoin’s. Ethereum clearly has an advantage over both of these crypto assets in this department.
The Bitcoin TPS is Worrisome
As is usually the case where Bitcoin transactions are concerned, there will be some drawbacks. Although the fees for sending transfers is not as big of a problem any more, the network throughput certainly is. All throughout 2020, the Bitcoin network TPS has never surpassed 4, which is rather poor. That means that, on a daily basis, the network processes less than 345,500 transfers.
Making matters even more interesting is how there have been peaks below 3 TPS as well. In late March of 2020, the network processed 2.91 transactions per second at one point. This doesn’t mean no value is being moved across the network. However, it does confirm the viability of layer-two solutions such as the Lightning Network.
Litecoin Scores Even Lower
Even though Litecoin is clearly the cheaper network to use, its TPS is not looking that impressive either. That is somewhat surprising, as one would expect lower transaction fees to facilitate a higher transaction throughput. In Litecoin’s case, the fees and TPS are not necessarily correlated, which is interesting to keep an eye on.
Similar to Bitcoin, Litecoin’s TPS has hit a low in late March 2020. With just 0.239 transactions per second, that was a very calm day for the network in general Today, things are improving, with nearly 0.5 transactions per second. All of these statistics are very interesting to keep an eye on, especially when comparing the different ecosystems.
Ethereum Remains in the Lead
Not too many people will be surprised to learn of the success of Ethereum. Its current TPS is very high compared to both Litecoin and Bitcoin. While there is no ground-breaking number of transactions to speak of, the current TPS sits near 13.26. That is more than 4 times Bitcoin’s transaction throughput as of right now, and over 20 times that of Litecoin.
Even Ethereun has seen a bit of a dip as far as its TPS is concerned. It occurred at a different time compared to Bitcoin and Litecoin, however. The low point was recorded in late January, with just 5.567 transactions per second. All in all, Ethereum seems to be moving ahead of the pack, albeit these statistics can change at any given moment.