Transaction Throughput
- Medha Parlikar (Unlicensed)
Goals
- Growth
Background and strategic fit
Current Bitcoin platforms poor scalability, which have prevented them from dominating the market. BTC's throughput is 7 tx / second, Etherum says it can handle 15 tx / second, but experience says that this is unlikely. If RChain can achieve 10,000 tx/ sec - it will achieve significant adoption.
Ripple Throughput rivals Visa - May 11, 2017
http://www.livebitcoinnews.com/ripple-network-transaction-throughput-matches-visas/
Average transaction approval time is 3.7 seconds. This is still slow, all things considered. The Ripple network probably can return a consensus failed message fairly quickly, but still needs on average 4 seconds to clear consensus. This means that card swipes at a POS won't clear in time. There are other benefits for banking institutions that are listed above.
Assumptions
- The primary factor in transaction speed is consensus.
Requirements
| # | Title | User Story | Importance | Notes |
|---|---|---|---|---|
| 1 | 10K transactions per second | Must Have |
| |
| 2 |
User interaction and design
Questions
Below is a list of questions to be addressed as a result of this requirements document:
| Question | Outcome |
|---|---|