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06/09/24
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Movement Blockchain Set to Revolutionize High-Speed Transactions with Record TPS Potential
Movement, a new layer-2 blockchain built on Ethereum, is positioning itself to become a leading solution for high-speed transactions. With a focus on performance, the co-founder of Movement Labs has indicated that the network can potentially handle nearly double the transaction throughput of its nearest competitor. During a recent blockchain event, it was shared that Movement’s testnet achieved a peak of over 12,000 transactions per second (TPS) and could theoretically reach between 30,000 and 50,000 TPS.
Currently, Polygon maintains the title for the highest recorded TPS among Ethereum layer-2 solutions, processing about 190 transactions per second. This figure is significantly lower than its theoretical capacity of 7,000 TPS. In comparison, Solana holds the title for the fastest overall blockchain, achieving around 1,053 TPS, which reflects only a fraction of its theoretical maximum.
The superior speed of Movement is attributed to its utilization of the Move programming language, originally developed by Facebook for its stalled stablecoin initiative. Move’s design allows for the processing of multiple transactions simultaneously, a contrast to the traditional sequential processing method. This concurrency is what enables Movement to handle high volumes of transactions more efficiently.
For a blockchain network to achieve its maximum TPS, it needs an active user base engaging in frequent transactions. Movement’s testnet currently features 44 decentralized applications (DApps), many of which thrive on Telegram, contributing significantly to its TPS. The rising demand for consumer-oriented and social applications has shifted user interest compared to other decentralized finance platforms.
With recent spikes in the popularity of Telegram-based interactive applications, millions of users have engaged with these platforms, boosting transaction volumes considerably, sometimes overwhelming the Telegram infrastructure itself. While the launch date for Movement’s mainnet has not been publicly disclosed, expectations are building for its imminent release.
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