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Home»ADOPTION NEWS»Ethereum Layer 2 Turbo claims to process 400,000 transactions per second.
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Ethereum Layer 2 Turbo claims to process 400,000 transactions per second.

By Crypto FlexsAugust 7, 20242 Mins Read
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Ethereum Layer 2 Turbo claims to process 400,000 transactions per second.
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Ethereum Ethereum

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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.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

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