Waves Enterprise has built a framework for load testing of blockchain networks under real-life scenarios to offer more comprehensive transparency for potential clients. Transactional capacity or lack thereof has been a hotly disputed debate in the industry almost from the start. The first known reply to Satoshi Nakamoto announcing Bitcoin (BTC) was on precisely this topic:

“We very, very much need such a system, but the way I understand your proposal, it does not seem to scale to the required size.”

Very excited and humbled to be joining @waves__labs as Marketing Lead. @WavesProtocol is already top 50 by market cap, super product-focused, w/ $3.5b TVL, and now a US-led growth team and an ecosystem fund coming… Get ready for $WAVES this year! 🚀 https://t.co/qJ9RZvGsO8

— JB 🌊 (1 ➝ 2) (@OpinionPlease_) March 28, 2022

 

A lot has been modified since then. Various alternative consensus protocols have been produced, hundreds of public and permittted blockchains have been created. Nevertheless, the problem of speed and capacity continues ever relevant. Several of these second and third-generation blockchains are much faster than Bitcoin — or at least, they profess to be. Their purported speeds range from a few thousand to millions of transactions per second. The latest initiative by Waves Enterprise strives to predict a blockchain’s speed under different real-world scenarios.

Customers should know the truth.

Artem Kalikhov, chief product officer of Waves Enterprise, said that Waves Enterprises itself had been hurt by unverified claims of their competitors, who guarantee higher speeds. He also opined that these disingenuous claims hamper adoption. The long-term aim of this initiative is to communicate to the potential consumers that when examining various blockchains, one cannot rely on baseless allegations and instead require trial under conditions that are going to approximate real life:

“Often, those platforms may provide results that were achieved under conditions that are not similar to the client’s use case. We are trying to convey that they should first figure out how their use case will affect the declared transactional capacity. For example, they claim it’s 300 transactions per second, but are these 300-byte transactions, or are we transmitting encrypted data that need to be decrypted and encrypted? This will create completely different stress for the network.”

Also, read – Catalyst Blockchain Platform to make blockchain easier to use

It is unlikely that blockchains that intentionally make unrealistic claims will utilize the framework that Waves Enterprise has developed. Nonetheless, he believes that things will improve if potential users of this technology commence necessitating realistic testing. More realistic metrics should help blockchain technology find greater adoption in the enterprise space.