From: thepipeline_xyz
Transactions Per Second (TPS) is a common metric used to gauge blockchain performance [03:55:08]. However, the term “TPS” can be misleading and confusing [03:24:00] for several reasons.
Challenges in Measuring TPS
Lack of Standardization
There is no universal or standardized way to measure TPS across different blockchain platforms [03:28:00]. This lack of a consistent metric, unlike units such as an inch or a centimeter, makes it easy to artificially inflate TPS numbers [03:30:00].
Transaction Complexity
Transactions on a blockchain can vary significantly in their complexity [04:01:00]. Some transactions can be extremely complex, time-consuming, and computation-intensive [04:03:00], while others, like simple transfers, are very quick [04:08:00]. Transfers, which involve exchanging digital asset balances from one wallet address to another [04:16:00], are the simplest form of transaction [04:12:00].
Theoretical vs. Real TPS
- Theoretical TPS (or Maximum TPS): This refers to an artificial number representing the highest potential number of transactions a chain could process in ideal scenarios, such as those involving only simple transfers [04:37:00]. However, transfer-only scenarios do not reflect real-world blockchain activity [04:55:00]. Modern blockchains host numerous applications and smart contracts that require more complex transactions [05:07:00].
- Real TPS: This contrasts with theoretical TPS by accounting for the diverse and complex transactions observed in actual blockchain environments, not just simple transfers [05:15:00].
Monad’s Approach to Measuring TPS
Monad aims to provide a more accurate and realistic measure of TPS by:
- Utilizing Real Historic Data: Monad measures TPS using real historic data to provide a far more realistic and accurate view of true blockchain performance and what users can expect [05:22:00].
- Replaying Ethereum Transactions: Monad replays real and recent Ethereum transaction data on its own blockchain [05:50:00]. This is possible because Monad is an EVM-compatible chain [05:56:00], allowing applications deployed on Ethereum and other EVM environments to also run on Monad [06:06:00].
- Focusing on Recent Data: By using more recent Ethereum transactions, Monad emulates what a current blockchain environment looks like [06:14:00]. Early days of Ethereum primarily saw simple transfers, which contrasts with the complex smart contract interactions common today [06:27:00].
This method of using real, recent Ethereum data published on-chain provides a more usable and accurate expectation of Monad’s TPS [06:46:00]. It demonstrates how Monad’s optimizations perform when processing the kind of user activity seen on the most active EVM environment [07:11:00].
Monad Devnet
The Monad Devnet is a fully functioning blockchain environment specific to the Monad blockchain [01:57:00]. It represents a significant milestone for the team, as it unifies all four optimizations of their tech stack, including the consensus engine (MonadBFT) and the execution engine (which enables parallelized execution) [02:15:00]. Their interactions, through MonadDB, form a cohesive system [02:35:00].
Devnet is currently an internal core team environment [02:40:00]. The next milestone for public access will be the phased Testnet [02:49:00]. One of the headlines for Devnet is its ability to achieve 10,000 TPS on the EVM [03:00:00]. Monad utilizes Devnet to “dog food” the blockchain, internally identifying system strengths and areas for further optimization [08:02:00]. This iterative approach is fundamental to software development and ensures continuous improvement [08:17:00].