Blockchain Education: Transactions Per Second (TPS) | SafeMoon Gaming: Today's Event [Fall Guys] - Tomorrow's Event [WoW] | Food For Thought | Reminders
🎓 Blockchain Education
Transactions Per Second (TPS)
Transactions per second (TPS) is a metric for assessing the capacity of a blockchain network to process real-world transactions. TPS refers to the number of transactions that a network can execute per second and how soon it can confirm a trade or an exchange. Several factors complicate the ability to process transactions. Factors
The quantity of transaction information that a block can hold in a blockchain, or block size, is one of the factors that complicate transactions. The larger the block size, the more people are required to operate a full node. Some blockchains have high TPS rates, but it's essential to investigate their performance, safety, and other characteristics to achieve a high TPS rate.
Another factor that complicates transactions is block time or the time it takes to create a new block on the blockchain. Block time determines how quickly transactions are confirmed by the blockchain. For example, since a block in Bitcoin takes 10 minutes to confirm transactions, it means that the network can process about seven transactions in a second. (BitDegree)
Transaction size is also a factor that complicates transactions. Different blockchains have different sizes of information transmitted with each transaction.
Does High TPS Matter?
Blockchain technology's speed is a significant benefit, but whether it matters depends on the network's type, consensus mechanism, and the number of nodes. While faster transaction times are beneficial in applications such as finance and supply chain management, security and immutability are also essential factors that ensure data integrity. Scalability is another factor to consider, as the network's performance may deteriorate as the number of nodes and transactions increases.
Decentralized networks pose new challenges regarding scalability and maintaining desirable properties such as security and immutability. Therefore, scalability solutions must increase the network's performance while maintaining its other desirable properties. Proposed solutions, such as sharding and layer-2 protocols, aim to increase the network's throughput without sacrificing decentralization. (Blockchain Council)
Quick Summary
The Transactions per Second (TPS) metric is used to assess the ability of blockchain networks to process real-world transactions. Block size, block time, and transaction size are factors that can complicate the ability to process transactions. While high TPS rates can be beneficial in applications like finance and supply chain management, security, immutability, and scalability are also essential factors that need to be considered. Decentralized networks pose new challenges in terms of scalability and maintaining desirable properties such as security and immutability. Proposed solutions, such as sharding and layer-2 protocols, aim to increase the network's throughput without sacrificing decentralization.
Sources:
“Transactions Per Second (TPS).” Binance Academy. https://academy.binance.com/en/glossary/transactions-per-second-tps Accessed 19 March, 2023.
“What is Transactions Per Second (TPS)?” BitDegree. https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-transactions-per-second-tps Accessed 19 March, 2023.
“What is Block Time?” BitDegree. https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-block-time
Accessed 19 March, 2023.
“Top Cryptocurrencies With Their High Transaction Speeds” Blockchain Council. https://www.blockchain-council.org/cryptocurrency/top-cryptocurrencies-with-their-high-transaction-speeds/ Accessed 19 March, 2023.
🎮 SafeMoon Gaming
To join in on gaming events, head over to the SafeMoon Gaming Discord at the event's scheduled time.
🗓️Today's Event: Fall Guys
Experience the craziness of FallGuys, a party royale game where competitors face ridiculous challenges. Don't miss out on the excitement starting at 3 pm MDT | 5 pm EST | 10 pm GMT!
🗓️Tomorrow's Event: World of Warcraft
Tomorrow March 21st, the SafeMoon Gaming community will be playing WoW at 3 pm MDT | 5 pm EST | 10 pm GMT.
March SafeMoon Gaming Event Calendar
💭 Food For Thought
"We change the world not by what we say or do, but as a consequence of what we have become."
- Dr. David Hawkins
"Your self-love has to be stronger than your desire to be loved."
- Steve Jobs
"The way you treat yourself sets the standard for others.”
- Sonya Friedman
Reminders
SafeMoon Special - Hello Again
SafeMoon Pulse Monthly Recap
Each month, the SafeMoon Pulse offers a comprehensive SafeMoon overview of the previous month, including any updates or changes you might have missed. The latest issue of the SafeMoon Pulse is now available, covering all the important information from the month of January 2023.
Let's recap the month of January! The video is below, or if you prefer reading, you can access the Pulse article here.
SafeMoon Wallet: How to Sell Crypto Guide
SafeMoon Orbital Shield
SafeMoon released a technical explanation of their patent-pending security product, SafeMoon Orbital Shield.
Need a slightly more simplified explanation?
PoA Article
What is PoA, and what are its advantages?
Learn more by clicking the image below.
Recent Captain's Logs
SafeMoon Exchange
SafeMoon CEO John Karony talks about SafeMoon's Centralized Exchange
(CEX) progress in the Captain's Log video below.
SafeMoon Blockchain
CEO John Karony gave a quick update on the SafeMoon blockchain explaining a bit about the chosen consensus mechanism and release expectations.
Token Monetization Innovation (TMI)
SafeMoon has released a new patent pending feature designed to improve the user experience on its DEX (Decentralized Exchange - SafeMoon SWaP), labeling the feature TMI (Token Monetization Innovation).
TMI aims to improve transparency and transaction predictability by charging the exchange fees upfront in the native token and using smart contracts to ensure transparency in token liquidity pairings. It also aims to expand the availability of web3 and enable additional community partnerships with meaningful projects.
TMI SafeMoon Newsletter Captain's Log.
pSFM Migration
Attention pSafeMoon holders ONLY.
The pSFM Migration Campaign is now LIVE!
Only use the official dApp link on the SafeMoon Website.⚠️
Have the tokens you want to use for migration in your wallet.
Don't transfer after the cutoff date/time
Have a small amount of ETH for gas fees
Tokens acquired in wallets after the cutoff date/time won't be eligible
The pSafeMoon process will remain live for a minimum of six months.
Migrate your pSafeMoon tokens to SafeMoon V2 tokens
The education team has also recently updated their pSafeMoon Guide to include an updates section so you can be aware of any issues relating to pSafeMoon. In addition, you'll find some FAQs to keep you all up to date.
Click the image to check it out
Tokenomics Supervisor
SafeMoon announced that with the recent SafeMoon SWaP updates came a new patent pending feature that solves the existing Defi inconsistent fee paradigm for tokens on multiple Decentralized Exchanges.
Press Release: [Businesswire]
They partnered with "Blockchain and AI expert Dr. Adel Elmessiry to help solve the inconsistency. Labeling the invention "Tokenomic Supervisor," they explain that it operates in 2 steps:
Token Registration
Token SWaP
To learn more, view the full article here.
Security Questions (Best Practice)
🎓You might have seen that SafeMoon Orbital Shield requires users to answer 2 security questions.
⚠️We highly encourage reading our Best Practice article to learn about a safer method for answering these security questions!
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Slippage and Gas Articles
You may have heard of slippage and gas related to the transactions you make when trading your digital assets on the blockchain, but do you know what they are, where they come into play during a transaction, or even why they exist?
SafeMoon Education Manager Cats published two new educational articles for those interested in understanding more.
⬇️Click on the image of the subject you'd like to learn about first.⬇️
↙ Learn about Slippage (Left) and Gas (Right) ↘
Understanding SafeMoon Transactions Article
🎓Want to understand more about what happens when a SafeMoon SWaP transaction takes place? Here's an article that can help you understand the process a bit further.
Check it out by clicking the image below. 👇👇👇
SafeMoon Career Opportunities
"Are you someone who imagines new realities & wants to collaborate with others to bring that new reality into being, for the good of everyone? Or maybe you know someone who might be a good fit?"
SafeMoon Gaming
March Calendar
Click below to join the SafeMoon Official Gaming Discord:
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