The TON blockchain achieves a world record for speed, processing 108,409 transactions per second (TPS), surpassing Bitcoin, Ethereum, and Solana. Toncoin (TON) trades at $2.18.
Key Takeaways
- TON achieves a groundbreaking blockchain speed record.
- During a 12-minute test, 42 million transactions were processed.
- TON now boasts a maximum speed of 108,409 transactions per second (TPS).
- The Toncoin (TON) price gains 3.14% and trades near $2.18.
New World Record
The Telegram Open Network (TON) team has made a significant breakthrough in blockchain technology by setting a new world record for transaction speed. During a public testing phase, the developers reported an astonishing accomplishment: within just 12 minutes, the network processed approximately 42 million transactions, with a maximum speed of 108,409 transactions per second (TPS).
"TON hits world record for blockchain speed" https://t.co/LLP0ACXe2e
— SequenceWorks – Blockchain Development Consulting (@SequenceWorks) November 1, 2023
This remarkable achievement places TON far ahead of all other existing blockchains in terms of speed. To put this into perspective, Bitcoin typically manages around 5-7 TPS, Ethereum around 15 TPS, and Solana, the previous record holder, at 65,000 TPS.
With this achievement, TON now proudly claims the title of the world’s fastest blockchain, capable of completing an impressive 104,715 transactions per second.
Bullish Movement
As a result of this exciting development, the Toncoin (TON) cryptocurrency is experiencing positive momentum, trading near $2.18 and gaining 3.14% in value.
Back in September, the introduction of the TON wallet in the Telegram messenger contributed to the growth of Toncoin’s value. It nearly reached the $3 mark, securing a spot in the top ten digital assets by market capitalization, surpassing even Solana in this regard.
Moreover, Telegram Wallet users now have access to TON Space, a feature-rich service. It allows users to buy and sell various cryptocurrencies, including Bitcoin. Starting in November, Telegram users worldwide will have access to a self-storage wallet, with the exception of residents in the USA and a few other countries.
To Conclude
The TON blockchain’s groundbreaking speed achievement signifies a significant leap in the world of blockchain technology. With such incredible transaction processing capabilities, TON is poised to revolutionize the way digital assets are transferred and managed.
Investors and enthusiasts are eagerly awaiting further developments in the TON ecosystem, as it continues to demonstrate its prowess in the blockchain space.
