RE: Bitshares - State of the Network - 26th September 2017
I have been following bitshares for a while now, I bought few in April and holding on. Recently I came across a very informative article regarding transaction processing capacity of bitshares :
Few days ago Vitalik Buterin said : "Ethereum is doing five a second. Uber gives 12 rides a second. It will take a couple of years for the blockchain to replace Visa.”
Well, in December 2016, Visa told MyBroadband that VisaNet processes an average of 150 million transaction each day. Source. Say, it's around 1,700 transaction per second on average.
With the latest stress test, which was done 5 months ago, BitShares has proven to sustain successfully about 300 transaction per second on average,
with a peak of more than 3000 transaction per second, which beats PayPal and which is already like 8x to 15x of what Ethereum is able to handle today (there is different data available on how much Ethereum handles but it varies from 5 TPS to 20–40 TPS, and we count the greatest).
So why it is so undervalued despite it has a decentralized exchange!! I think little bit more effort in aggressive marketing campaigns will surely put them in the spot light. I am sure in the long term this project has a bright future.
Thanks for the comment @rizwan! good to see you have been doing your research.
I am also happy to tell you that the record setting block on the testnet stresstest was created by my witness :)
I think you are right in your conclusion; for a long time Bitshares did not do enough marketing and were just happy pushing the boundaries of the tech. Happy to see more marketing has started occurring now but it is also hard to compete with projects that raise millions of dollars from ICOs and their main focus is on marketing.
That being said Bitshares does have millions of dollars in its reserve pool which could be used for marketing.. we are getting better and their are some current marketing efforts that are gearing up or running at the moment.
Last week coingate integrated bitshares in their payment gateway . Contrary to some people, I believe that crypto currencies should not just be regarded as tokens or assets, but also should serve a purpose in making everyday payments. And in terms of huge transaction processing speed there is no match for bitshares at the moment and they should capitalized on that .