The Transformer Performance
HEADLINE: The overview of Tfsc performance key factors
What are Performance Indicators?
Performance indicators are special metrics used to measure the performance of a Blockchain. Studying key performance indicators helps us compare different blockchains to find the most suitable one for developing projects and minting NFT.
The Key performance indicators used to measure the performance of a blockchain network include the following;
☑️ Transactions Per Second(TPS)
TPS is one of the critical indicators studied by anyone familiar with the blockchain industry, which refers to the number of transactions a blockchain can process in one second.
TPS is used to identify the scalability of a blockchain and the amount of data it can process.
The number of transactions submitted to the blockchain and the number of transactions stored in the ledger can be measured separately to obtain higher clarity and better results.
However, blockchain with high TPS value is not necessarily superior to other available options, and many other factors should be considered.
For example, the TPS value of BTC is very low, but there are thousands of nodes at any time, which makes BTC one of the most popular blockchains.
☑️Transaction Latency
Transaction latency refers to the time between the submission of a specific transaction to the block and its approval or rejection.Once a transaction is approved, we can see and use it throughout the entire blockchain.
☑️Transaction throughput
Transaction throughput is the time required to add an effective record to the block. The corresponding time is calculated only after the relevant record has been approved.
To calculate transaction throughput, simply divide the total number of records added to the block by the total time in seconds.
☑️Energy Efficiency
Although energy efficiency is not a direct network performance indicator, it plays a crucial role, considering the global energy shortage and the increasing consensus on saving energy worldwide.
Blockchain needs a certain amount of energy to play its role,mainly for transaction validation, processing, and storage. The energy consumed here largely depends on the consensus mechanism adopted.
Although most major blockchains use the PoW (Proof of Work) model, which is a high-energy-consuming model, various new blockchains rely on more advanced and low-energy-consuming PoS (Proof of Stake) or PoA (Proof of Authority) mechanisms.
☑️Number of Validators
Validators refer to individuals who validate transactions on the blockchain in exchange for rewards. They are typically specialized in the blockchain and work to maintain its integrity. Once a transaction has been validated, it is added to the blockchain ledger by the Validators.
☑️Block time
Block time is the amount of time required for validators or miners to validate the transactions stored in the block. Once completed, another transaction is created.