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Scaling solution Turbo Protocol has launched a new blockchain capable of processing 400,000 transactions per second, the team announced Tuesday at the Blockchain Application Stanford Summit. That’s about 4,000 times faster than high-throughput chains like Solana.
The Turbo team said in a press release that the project is one of many new efforts to experiment with “parallel transaction processing,” a process that records multiple transactions simultaneously “as opposed to sequentially as is currently done on Ethereum.”
For comparison, the Ethereum-based layer handles about 20 to 30 transactions per second, while competing network Solana handles just over 1,000 transactions per second, and global payments company Visa handles about 24,000 transactions in a similar period.
Turbo CEO Aaron Greenblatt demonstrated a live blockchain at the Stanford Summit on Blockchain Applications in New York City, noting that applications launched on layer 2 networks won’t have to compete with Ethereum gas fees.
“Any web3 project that wants to move heavy compute workloads off-chain can use Turbo Protocol,” Greenblatt said. “This could be projects in decentralized AI, gaming, and social verticals.”
Since the network launched in 2015, Ethereum has been hampered by slow transaction processing speeds, often resulting in costly periods as users race to have their transactions permanently included in blocks.
Layer 2 networks like Turbo, Optimism, and Polygon are all taking different approaches to create more efficient blockchain platforms that ultimately “roll up” a series of transactions onto the main Ethereum blockchain.
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