When analyzing DLT execution environments, consensus mode is the main criteria if it allows a high throughput rate with fast confirmation. Yet several other parameters need to be considered. This article raises attention on them from an advanced research table.
Source: BQ Intel
In the current state of art, Ethereum allows only 1x transactions per second per shard, with a standard validation time of 10 seconds. It is expected that the PoS upgrade will help reach 1000 transactions per second at a standard 16 seconds validation time.
Neo, Tron and Cosmos
Neo is currently perceived as a main challenger of Ethereum, with 100x transactions per second per shard. Yet it is also limited to a standard validation time of 10 seconds.
On this criteria, Tron exhibits a capability of 2 blocks validated per second. However, its development team has been highly criticized for not being able to deliver on its promises.
Regarding Cosmos, the main drawback is that it does not natively support smart-contracting as other platforms. Furthermore, the cost of execution can become relatively high, which can hinder some business applications and thus adoption.
Tezos, Qtum, Zilliqa and Vechain
These platforms all have a same sin in common: poor validation time. Up to 60 seconds for Tezos and Zilliqa, worse than Qtum’s 15 seconds and Vechain’s 10 seconds.
Iota and Nano
Iota and Nano both do no support smart-contracting natively. Like Cosmos, their execution cost structure seems to be a limiting factor.
Stellar seems a good alternative to Ethereum where execution on a Turing complete machine would not be a requirement.
EOS seem to be one of the most promising infrastructures, with probably the best level of funding after an +$1B ICO, 100x transactions per second per shard and 2 blocks validated per second under DPoS. However, it is being heavily criticized for not being decentralized.
Hashgraph’s DAG is also promising, announcing a 1000x transactions per second per shard and a 4 seconds validation time. Yet it is still to be deployed and tested.
Beyond consensus modes, several criteria must be understood and checked when considering a specific DLT infrastructure. They include but are not limited to: control on participating nodes, data confidentiality, transactions per seconds per shard, “scaling to infinite”, validation time, smart contracting capability, cost of execution, maturity and development team. Check out our full comparison table at www.bqintel.com/dlt-infrastructure-compare.
Check the full version of Blockchain Quarterly (Q1 2019) report for more Insights.