Smart contract layer-1 blockchain network Avalanche’s testnet has achieved an impressive milestone during testing of its HyperSDK blockchain upgrade. The testnet was able to handle over 140,000 transactions per second, showcasing the network’s potential for high-performance transactions.
Avalanche is currently focused on developing a framework for building high-performance Virtual Machines (VMs) from scratch on its network. The goal is to provide developers with a lightning-fast execution environment without the need for extensive coding. The HyperSDK upgrade simplifies the process of custom VM development, making it easier for developers to launch optimized blockchains.
To demonstrate the capabilities of HyperSDK, a controlled testing environment recorded a staggering 143,322 transactions per second, as captured in a screenshot shared on GitHub. Comparatively, other popular blockchain networks like Avalanche, Solana, and Ethereum process significantly fewer transactions per second, with Avalanche currently capable of up to 4,500 TPS, Solana between 2,000 and 3,000 TPS, and Ethereum only managing 15-20 TPS, according to Coincodex data.
Nick Mussallem, head of product at Ava Labs, spoke to Cointelegraph’s Andrew Fenton at the Korea Blockchain Week 2023 and expressed his expectation for real-world throughput to eventually settle around 50,000 TPS. Mussallem acknowledged that the recorded 141,000 TPS in a controlled environment was impressive but emphasized the importance of considering real-world conditions. Nevertheless, he believes that even with conservative estimations, Avalanche will exceed expectations.
Mussallem also addressed the blockchain trilemma, which encompasses the challenges of decentralization, scalability, and security. He assured that Avalanche’s development team took a unique approach by building the system from scratch and optimizing it for efficient state management. By removing unnecessary elements from the Ethereum Virtual Machine (EVM) and integrating their consensus algorithm, Avalanche achieved exceptional speed and scalability.
Developers utilizing HyperSDK will be able to create blockchains known as HyperChains, which will function as subnets and can be customized for various purposes. The user interface (GUI) provided with the HyperSDK requires no additional coding, and developers also have the freedom to choose their preferred VM. Mussallem emphasized the simplicity and accessibility of launching a HyperChain, stating that it can be done in just five minutes.
While HyperSDK is currently in the early beta stages and available as an open-source project, Mussallem clarified that it is not yet production-ready. The target for its official launch is the end of the year.
Overall, Avalanche’s HyperSDK blockchain upgrade showcases the network’s potential for high-performance transactions and streamlined blockchain development. With its impressive testnet performance and innovative approach to addressing the blockchain trilemma, Avalanche is poised to make significant advancements in the blockchain space.
Sources:
1. Avalanche: What is Avalanche Network (AVAX) and How Does it Work: [source]
2. The Blockchain Trilemma: Can It Ever Be Tackled? : [source]
3. What is an Ethereum Virtual Machine (EVM) and How Does it Work? : [source]
4. How to protect your crypto in a volatile market: Bitcoin OGs and experts weigh in: [source]
5. Marketing company wants 90% of Japanese population on Web3: KBW 2023: [source]
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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