From: thepipeline_xyz
Transactions per second (TPS) is a common metric used to measure blockchain performance [03:55:53]. However, the definition and measurement of TPS can be confusing and misleading due to the lack of a universal standard [03:24:19].
Challenges in Defining TPS
There is no standardized way to measure TPS across different blockchains, similar to how there are universal units of measurement like inches or centimeters [03:28:13]. This absence of a standard allows for the metric to be artificially boosted using simplified environments or transaction data [03:40:24].
Transaction Complexity
Transactions on a blockchain can vary significantly in their complexity [04:01:21]. Some transactions can be extremely complex, time-consuming, and computation-intensive, while others are very quick [04:03:00].
An example of a simple transaction is a “transfer,” which involves exchanging digital asset balances from one wallet address to another [04:10:48]. If TPS is measured solely based on these simple transfer transactions, it can result in a high, artificial number [04:27:14].
Theoretical vs. Real TPS
The concept of a “theoretical TPS” or “maximum TPS” refers to the highest number of transactions a chain could potentially produce under ideal scenarios, such as transfer-only scenarios [04:40:24]. However, transfer-only scenarios do not accurately reflect real-world data [04:55:20]. Modern blockchains host numerous applications and smart contracts that require much more complex transactions than simple transfers [04:57:48].
Artificial TPS
Relying on theoretical TPS figures based on simple transactions can be misleading, as they do not represent the actual performance gains in blockchain transactions or the complexity of real-world blockchain activity [04:27:14].
Monad’s Approach to Measuring TPS
Monad aims to provide a “real TPS” metric that is in direct opposition to theoretical TPS [05:15:20]. To achieve this, Monad defines and measures TPS by using:
- Real Historic Data: This provides a more realistic and accurate view into true blockchain performance and what users can expect [05:22:04].
- Recent Ethereum Data: Monad replays real and recent Ethereum data that has been published on-chain [05:46:42]. This is possible because Monad is an EVM (Ethereum Virtual Machine) compatible chain, allowing applications deployed on Ethereum to also run on Monad [05:56:06].
- Emulating Current Environments: Using recent Ethereum transactions helps emulate what a current blockchain environment looks like, contrasting with the early days of Ethereum which predominantly saw simple transfer transactions [06:14:02].
This methodology provides a more usable and accurate expectation of Monad’s TPS [07:03:00]. The goal is to demonstrate the True Performance Optimization that Monad brings to an EVM environment by replaying current user activity from the most active environment directly on Monad [07:15:05].
Monad Devnet
Monad’s devnet, a fully functioning blockchain environment, signifies the unification of all four optimizations of its tech stack: the consensus engine (MonadBFT), the execution engine (parallelized execution), and their interactions through Monad DB [02:01:21]. The devnet currently achieves 10,000 TPS on the EVM [03:00:15].
Devnet is currently an internal core team environment [02:40:48]. The next milestone will be a phased testnet, which will be accessible to the public [02:49:03].