Blockchain Performance Requirements for billions of users
What kind of blockchain performance requirements are necessary to bring billions of users to crypto?
- Ability to process tens of thousands of trades per second and hundreds of thousands of orders per second
- Ability to process 10 billion social media interactions per day, which is around 100k per second
- Gas costs of less than $0.001
- Scaling with the world. As the world’s technology grows, the blockchain’s throughput has to grow
- Ability to process all submissions on a human-reaction-time scale. If you click a button you expect it to take ~100ms or so to process on most products — a~1s lag would be really frustrating
- Products composing. Otherwise you lose a lot of the value-add for companies, meaning each industry will likely want to be roughly single-sharded
- Ability to be decentralized and open
Which blockchains that exist today could get there?
None.
200k transactions per second in a single shard blows out every blockchain right now.
But even more worrying, it blows out almost every blockchain’s long-term vision. Most chains, even most faster chains, aren’t planning to focus on further increasing their throughput; rather they’re resting on the laurels of being able to handle the current 100k user DeFi ecosystem cheaply.
