What does TPS mean in Bitcoin (Bitcoin throughput)?
What does TPS mean in Bitcoin? The first block of Bitcoin was mined on May 28, 2
What does TPS mean in Bitcoin? The first block of Bitcoin was mined on May 28, 2018, when the block height reached 12,300. However, due to the current poor network performance of Bitcoin, high transaction costs, and excessive fees, the term TPS (Transaction Per Second) emerged to prevent network security vulnerabilities and ensure smooth transfers.
For users, they can transfer their BTC to their wallets without paying transaction fees. Therefore, when users want to use this currency, they can exchange Bitcoin for cash or fiat currency.
Bitcoin throughput
According to BitInfoCharts data, the Bitcoin throughput has reached its highest level in history. Since 2009, one transaction has been generated every 10 minutes. If we continue to observe the growth of Bitcoin TPS in the past 12 months, it may soon experience a significant increase (currently over 10%). However, this does not mean that the price of Bitcoin will decrease over time. In fact, the average network fees of Bitcoin are usually calculated based on the number of users, not because of the activity level of each user and block size.
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