On June 3rd, 2020, a London-based team of blockchain scientists published the thesis 'Revisiting Transactional Statistics of High-scalability Blockchain'. They claim that the current throughput is only 34TPS (transactions per second) for EOS.IO, 0.43 TPS for Tezos and 15 TPS for XRPL. Daniel Larimer, CTO of Block.one, the development studio behind EOS.IO open-source software has something to say about it.
Dismissing the erroneous claims
Today, on June 11th, 2020, Mr. Larimer came out with a blog-post to respond to the assumptions that EOS.IO-based software can handle only 34 transactions per second. According to him, the authors heavily abused the very definition of throughput.
He criticizes the approach to blockchain throughput as the number of transactions 'that have value' per second. This manner of interpretation can mislead readers in the same way that three different methods of estimating water consumption can:
how much water can flow through a pipe, actual water flowing through the pipe, and only counting water flowing to the houses you value.
Also, this approach favors blockchains with poor scalability and high transactional fees. It's natural for these types of blockchains to filter out low-value transactions. But this leads to misinterpretation of 'scalability' itself.
According to Mr. Larimer, scalability shouldn't be evaluated in terms of 'valuable' and 'not valuable' transactions. He emphasizes that scalability refers only to the ability to scale with no regard to the way this ability is utilized.
Larimer: EOS.IO throughput is 100x higher
Mr. Larimer supposed that the report in question wasn't unbiased. According to him, its authors received funding from Ethereum Foundation while studying the Ethereum (ETH) gas model.
So, they might have been less critical of 'valuable' or 'valueless' Ethereum (ETH) transactions. As a result, Ethereum (ETH) wasn't investigated in their report.
All in all, even if we assume that Ethereum (ETH) transactions are 100% free of spam, gambling, airdrops, etc., Mr. Larimer believes that EOS.IO is twice as capable as Ethereum (ETH) is.
He outlined that if estimated fairly,
EOSIO has a sustained throughput capability of 3000+ Transfers per Second in a global network.