Nexo

Start Earning Up to 16% Interest Automatically

Learn More
Home » Business » Facebook’s Crypto Testnet Averages 6 Transactions Per Second 

Facebook’s Crypto Testnet Averages 6 Transactions Per Second 

by

The testnet for Facebook’s crypto Libra, now called “Diem,” has been live for 43 days.

Liberdy helps you give Facebook the shaft

Share this article

Facebook’s testnet has been live for over a month as the Libra Association prepares for the next stage with broader participation among members. 

Facebook’s Libra Moves a Step Ahead 

The latest update from the blockchain explorer finds the network performing at an average of six transactions per second (TPS), with the highest reported figure of 24 TPS. 

In comparison, Bitcoin and Ethereum blockchains execute close to four and 13 TPS, respectively. On the other hand, VISA support 1,700 transactions each second. 

Blockchain explorer stats for Facebook's Diem.
Blockchain explorer stats for Facebook’s Diem. Source: Indiem.info

The testnet will be looking to upscale throughput and evaluate the performance of the network. 

The top address contains 9.1 trillion LBR units. The test net is running close to 10 trillion tokens in 31,184 addresses. 

Joe Lallouz, the CEO, Bison Trails, a member of the Libra Association, told Finance Magnates:

“Moving from a testnet to a mainnet is a huge milestone for Libra.”

Libra is planning to roll the testnet “out and into the hands of potential users, potential customers, and potential companies.”

Allegedly, the Libra Association is planning for a January launch with a USD-backed stablecoin. However, the dates of a public launch are still unclear. 

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.