Since June the EOS blockchain has created close to 13 million blocks, over 275 million transactions and almost 300,000 accounts created which is a significant jump from the about 100,000 that existed when the mainnet launched. Thats about 100,000 new accounts per month!
We have numerous projects and dApp’s currently running on the chain, dApps from the VC-funded blockchain encyclopedia, Everipedia, to other live dApps such as Newdex, DEXEOS, decentwitter, feexplorer, Buy EOS RAM & EOS forum. Current projects and games running on the platform are: MonsterEOS, Wizardone, King of EOS, EOS Button, Space Invaders, EOS Knights, EOS Bingo, EOS Bet, EOS Roller & Coinflip and more that aren’t mentioned here.
These projects are directly contributing to the 5 million+ on-average daily transactions, with many more large social media dApps to come such as Ono and code-name Steemit 2.0, both social media projects will rely heavily on high transaction bandwidth. Speaking of high transactions amounts, this should be no problem given that the 5 million+ daily transaction average is higher than the all-time record of EOS closest competitor, Ethereum, which has an all-time record of 1.3 million+ transactions on its best day and averages around 600,000 transactions daily, yet is currently (at the time of this writing) at 100% chain capacity with close to 54,000 unconfirmed transactions that are cued and are waiting to be confirmed. EOS on the other hand has an all time high of over 10.1 million Transactions in 1 day, currently sits at 5 million+ on average, yet is using less than 0.5% of it’s blockchain capacity. We must also keep in mind that EOS is still currently a single threaded chain and has implemented no official side chains.
As for the raw speed, based on EOS daily transaction average, EOS is averaging around 61 “Transactions Per Second” (TPS). I get this number by taking the EOS daily transactions of 5,273,078 and dividing it by the amount of seconds in 1 day which is 86,400. That puts EOS at an average of 61 transactions per second while utilizing less than half of 1% of it’s chain capacity. EOS “average TPS” is 4-times faster than Ethereum’s all-time record of 15.8 TPS, and EOS average TPS is almost 9 times as fast as Ethereum’s average TPS of just under 7. But the kicker, and what we very much need to keep in mind here is that there are also no fee’s to transact on the EOS blockchain as a user for as long as you hold EOS to establish your resources on the network. For Ethereum, every transaction you make, whether it’s transferring their token, any of their erc-20 tokens or using any of the projects built on the ETH blockchain, each transaction will cost you gas…which means that you pay to use and transact on the network every-single-time you transact. That’s an incredible dilemma outside of just the low transaction numbers, as it will be virtually impossible to create and build certain ideas on that platform, such as a social media platform given that everytime one would like to write a post, like a post, or do anything on the platform, it will come down to you having to pay gas in order to interact. Not on EOS.
Raw Speeds. EOS has officially hit a top TPS of just under 4,000 TPS. To put that into perspective, let me leave the blockchain space and compare this to the credit card space. Both Mastercard and Visa together process about 62 Billion transactions per year. This comes out to just under 2,000 Visa/Mastercard transactions per second. Lets keep in mind that this is based on global usage, not just in stores but transactions that are also being done within the internet marketplace. What makes this news so fantastic is that EOS is capable of processing these transactions speeds while still being single-threaded and without any scaling requirements. This means that the capability of EOS on a technological standpoint makes it one of the most advanced and important blockchain protocols on earth in my personal opinion.
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