XRP Ledger sees the lowest close time with a simultaneous massive pump in transaction volume

XRP Ledger saw a massive transaction spike on January 23, 2019, as it reached a massive 104 transaction per second [TPS]. The usual number of transactions for XRP ledger lies anywhere between 10-20 TPS.

@cryptokinger noticed the same as he tweeted the following and posted a screenshot of the TPS:

“Highest @Ripple $XRP #RippleNet TPS seen in a while just now – note the higher the TPS, the faster the Ledger Closing Time #xrpthestandard”

Source: Twitter | @cryptokinger

The ledger closed time – the time taken for the XRP Ledger to reach consensus on a transaction, was the lowest, i.e., 0.50 second. Lower ledger close time is directly proportional to the transaction speed, hence, the people who noticed this sudden change in the XRP Ledger close time and the TPS were surprised and sought the reason for the change.

Another user @se2lgFUxkLEzOCu posted a new screenshot [as seen below] with an increase TPS of 104 and decreased ledger close time of 0.2 second.

Source: Twitter | @se2lgFUxkLEzOCu

The decreased ledger close time and a massively increased transaction volume could throw any user off balance leading them to presume that something might be happening with Ripple under the hood. A similar scenario took place on November 20, 2018, where the ledger close time decreased to 0.5 seconds while the transactions reached a massive 63 TPS.

David Schwartz, the CTO of Ripple and one of the brains behind XRP swooped in to clarify the numbers. He tweeted on November 20, 2018 saying:

“It’s possible the network was unable to agree on a close time. Consensus won’t wait if only the close time is unagreed (not worth delaying transaction confirmation) and has to try again next ledger.”

While some people believed it could Temnos or Cobalt under the works, but Dr. T and other well-known members in the community clarified that it couldn’t be so.

@TeholBeddictXRP commented:

“I’ve seen frequent jumps in TPS and drops in transaction close time at the start of the hour. Numbers like these are not that uncommon. Likely just the way it’s calculated and not real data.”

The post XRP Ledger sees the lowest close time with a simultaneous massive pump in transaction volume appeared first on AMBCrypto.

Go to Source
Author: Akash Girimath


Join our Telegram Channel : @Cryptoknowmics for regular updates and important announcements about Cryptoknowmics or to be a part of our Telegram Group : @cryptoknowmic discussions, query and any suggestion or subscribe to our newsletter
Views expressed here are open to research and analysis from the reader’s side

Comments (No)

Leave a Reply