Cryptocurrency experts name the blockchain that set a world record for the number of transactions

on October 31, during a public test, The Open Network blockchain set a world record by performing 104,715 transactions per second (TPS).

For the test, the project team rented 256 servers for node validators from Alibaba Cloud and launched a separate TON Blockchain network. It created a so-called «bomb» — a special smart contract that clones itself and continuously transmits transactions.

«We detonated the 'bomb' for 10 minutes. This led to an intense increase in load. The network split into 512 shardchains and processed 90,000−110,000 transactions per second until it was shut down,» the project representatives said.

In 22 minutes, the network processed more than 107 million transactions, and the peak TPS was 111,498. The results were confirmed by an independent auditor CertiK.

It turned out that the indicators exceed all the confirmed results of other blockchains, as well as the maximum speed of centralized payment systems such as Visa and Mastercard.

According to TON developers, with a sufficient number of validators, the network is potentially capable of processing millions of transactions per second.

The previous holder of the fastest blockchain title was Solana.

It is worth noting that in September, the price of the native TON token increased by 15% amid the integration of the cryptocurrency wallet into Telegram. As of November 2, the token was trading at $ 2.2 with a market capitalization of $ 7.56 billion. Traders executed daily trading deals worth $ 35.03 thousand, a drop of almost 57%.

The No Worries editorial team strongly recommends that readers do not make quick investment decisions and invest in cryptocurrencies responsibly.