Waves Platform Says It Has Set Maximum Transactions Per Day Record

Kevin O'Brien

The Waves Platform said it has set a new 24-hour transaction processing record, according to a Tweet and blog post from the team.

Early on October 23rd, Waves wrote on Twitter how the network “processed a remarkable 6.1 million transactions” on October 21st.

The team said in a blog post how they were:

very excited to announce that our platform has processed more transactions in 24 hours than any other open blockchain in existence.

A Surge Of Transactions

In an October 23rd blog post, the team pointed to statistics from http://dev.pywaves.org/txs/ to substantiate their claim.

According to Waves, the numbers showed a “total of 108,741 transactions” which included 60,933 MassTransfers. These are a specific type of transaction “that can hold 100 transfers at once.”

Overall, the team said a total of “6,141,108 transfers were processed by the network” on MainNet during October 21st. At peak times, the Waves blockchain supported “hundreds of transactions per second.”

However, some people started to question the news from Waves after release.

After Waves CEO and founder Sasha Ivanov Tweeted the blog post from his personal account, one commenter wrote how “Both EOS and BTS have a higher 24hr transaction volume.”

This comment seemingly stemmed from another posted in reply to the announcement Tweet from Waves, which referenced a chart from blocktivity.info.

Ivanov responded that “EOS had 5.5 mil at most,” which sparked more discussion.

Success Due to Waves-NG

Waves wrote how its success can be attributed to the use of the “Waves-NG”, an algorithm where miners are chosen in advance so transaction processing can occur in near-realtime.

Ivanov explained how the algorithm, along with other advances, lets Waves be able to do ‘what no other open blockchain platform has ever achieved.’

In its blog post, the Waves Team noted how information from Bitinfocharts showed how “leading blockchain platforms have posted no more than 2 million txs/day throughout their entire history.”

Waves said many blockchain protocols “promise very high throughput,” but asserted how this is theoretical “at this point,” or is on a controlled and favorable “TestNet.”

On /r/Wavesplatform, one commenter wrote in response to the blog post how “Staking was insanely profitable in waves on that day and the day prior.”

The person noted how further adoption and pair support could lead to “more days like this.”