The Waves Scalability TestThe Waves scalability test passed with flying colors; the network faced no delays, backlogs, disruptions, or slowdowns. Further, as the volume increased, the network's capability to handle large volume was clear. According to PYWAVES, the Waves blockchain recorded a total of 108,741 transactions. Of these, 60,933 were specialized transactions called Mass Transfers, which can hold 100 transfers at once. In detailing the test, the company said:
“A total of 6,141,108 transfers was processed by the network, with the blockchain supporting hundreds of transactions per second at peak times."
Waves Scalability Tests the BoundariesThe revelation is important as scalability has been a troublesome issue at the heart of the cryptocurrency sphere. Bitcoin's slow transaction confirmation periods and issues with backlogs needed a solution. To help combat the issue, the Bitcoin network opted for a third-party processor called Lightning Network. In this case, Lightning would simply take some of the volume and process it separately to the Bitcoin blockchain. Waves' solution is similar. It implemented a technology called Waves NG, which helps to scale the Waves Network. It does this by selecting miners in advance; this decreases latency and maximizes throughput. It was the protocol's deployment on the blockchain that Waves’ CEO and co-founder Sasha Ivanov said led to the network processing a record number of transactions. He furthered:
“Bitcoin processes just a few transactions per second [...] Ethereum’s capacity is into double-digit tps, and a handful of other blockchains have improved on this incrementally in various ways. WAVES has implemented tech that enables a step-change in transaction volumes — not just in the lab, but in the real world, on MainNet, as these figures prove beyond doubt.”