For years, Transactions Per Second (TPS) has been the go-to metric for blockchain developers promoting their high-performance networks.
Compared to Bitcoin’s maximum of 7 TPS (often closer to 4), networks like Ripple once claimed 1,500 TPS—matching Visa’s capacity—though their CTO later admitted this was never achieved. Solana boasts benchmarks of 65,000 TPS, yet real-world performance hovers around 3,000 TPS, with its "real TPS" metric dipping even lower. Newer blockchains tout theoretical peaks of 297,000 TPS.
But how meaningful is TPS today? Industry leaders argue it’s a flawed measure, easily manipulated, and fails to account for transaction complexity. Yet, without a universally accepted alternative, TPS persists as the standard.
The Rise and Limits of TPS as a Blockchain Metric
Early Days: Simplicity Reigns
In crypto’s infancy, TPS was vital for comparing blockchains like Bitcoin and Litecoin, where transactions were straightforward (e.g., sending coins between addresses). Scalability debates centered on increasing TPS to support global adoption.
Smart Contracts Complicate the Picture
Ethereum’s 2015 introduction of smart contracts (13 TPS) shifted focus. Complex operations (e.g., DeFi trades, NFT mints) required more computational power than simple transfers, rendering raw TPS less indicative of true performance.
Account Abstraction and Bundling
Modern innovations like account abstraction (ERC-4337) allow bundling multiple actions (UserOps) into single transactions. This further dilutes TPS’s relevance, as a bundled transaction counts as "1 TPS" regardless of its computational weight.
"Counting TPS is like tallying bills in your wallet—ignoring that some are $1 and others $100."
— Steven Goldfeder, Offchain Labs
Solana’s TPS Debate: Benchmarking vs. Reality
Claims vs. Actual Performance
- Benchmark TPS: 65,000 (controlled environment).
- Real-World TPS: ~3,000 (per Solana’s live dashboard).
- "Real TPS" (excludes consensus votes): 704 (Solana Compass).
Critics argue ~80–90% of Solana’s reported TPS stems from non-user transactions (e.g., validator votes). Austin Federa, Solana’s Strategy Lead, defends this: "Votes are real transactions that pay fees. Excluding them is disingenuous."
👉 Explore Solana’s live TPS metrics
Transaction Complexity Matters
Federa notes that while Solana’s speed has increased 5x since 2021, TPS hasn’t skyrocketed because modern transactions (e.g., arbitrage, NFT mints) are 100x more computationally intensive than simple transfers.
Beyond TPS: Emerging Metrics for Blockchain Performance
1. User Operations Per Second (UOPS)
- Pros: Reflects bundled actions (e.g., swaps, approvals) under account abstraction.
- Cons: Ethereum-centric; rewards complexity over efficiency.
2. Gas Per Second (GPS)
- Measures computational work (e.g., Ethereum’s gas fees).
- Challenge: Lack of standardization across chains (Solana uses "compute units"; Starknet uses "Cairo steps").
3. Time-to-Finality (TTF)
- Tracks how quickly transactions become irreversible.
- Vital for DeFi and high-frequency applications.
FAQs: Addressing Common TPS Questions
Q1: Why do projects still advertise TPS if it’s flawed?
A: TPS is widely understood, and alternatives lack universal adoption. Marketing often prioritizes simplicity over nuance.
Q2: Can TPS be "gamed"?
A: Yes. Chains inflate TPS by counting low-compute transactions (e.g., empty transfers) or validator votes.
Q3: What’s the best metric for comparing blockchains?
A: No single metric suffices. Combine TPS, GPS, TTF, and cost-per-transaction for a holistic view.
👉 Compare blockchain performance metrics
The Future of Blockchain Metrics
As Federa notes, "The goal is for blockchains to become fast enough that only developers care about TPS." Until then, the industry must:
- Standardize new metrics (e.g., GPS, UOPS).
- Educate users on interpreting nuanced data.
- Focus on real-world utility, not theoretical peaks.
"Metrics should balance interpretability and accuracy. We’re not there yet."
— Anthony Rose, Matter Labs
Final Thought: TPS isn’t dead—but its dominance is waning as blockchain complexity grows. The next evolution? Metrics that reflect value processed per second, not just volume.