- Matic Network is reporting successful results from its Counter Stake testnet that could speed up Ethereum (ETH).
- The Counter Stake testnet (CS-2008) had a performance level that reached 7,200 transactions per second (TPS) in a stress test.
In a blog post, the developers of the Matic Network have revealed the success of its Counter Stake (CS-2008) testnet. It has been operating continuously for the past two months and, according to Matic, produced important results that could solve two of the problems of the Ethereum blockchain: network scalability and congestion.
Matic results and implications for Ethereum (ETH)
Counter Staker (CS-2008) was able to process 7,200 transactions per second in a stress test, according to Matic Network. This type of test is built to overload the network with an increasing number of transactions over a given period. In that sense, Matic Network stated:
During rigorous stress testing, the Matic Network CS-2008 testnet was able to reliably handle a performance level of 7,200 TPS! This level of performance can be reliably extrapolated to the Matic mainnet, as the networks employ the same architecture.
Matic confirmed that 122 validators were part of the testnet and were able to activate and run validators with sentry nodes. Therefore, the CS-2008 testnet was completely decentralized and its results, according to Matic, are reliable. Based on the results, Matic predicts the arrival of a new era of high speed and low cost transactions for the Ethereum’s dapp ecosystem using the Matic network. The publication states the following:
This is also just the beginning. We will continue to optimize the network for even greater performance. Regardless, the current performance capabilities of the network as it stands means that Matic can be instrumental in helping the Ethereum ecosystem to overcome its performance constraints and reach its full potential.
As reported by CNF, the Ethereum network has experienced congestion problems and, as a result, the fees charged by the miners for validating transactions have been increasing. Although the community organized to increase the size of the blocks to 12.5 million, the problem has persisted. Data from ETH Gas Station shows that within the last 1000 validated blocks, the price of gas continued to vary strongly.
As a scalable second layer solution, the results of Matic Network could be applied to improve the performance of the Ethereum blockchain. Matic Network is aiming to build a DApp developer ecosystem. It is an account-based sidechain with plasma security guarantees and also employs an EVM-compatible runtime known as the Matic VM which is make it relatively easy for Ethereum based DApps to migrate to Matic Network.
However, Matic’s solution is one of many that aim to solve the same problem. In the crypto community, the option that seems most viable is the launch of Ethereum 2.0 phase 0. However, the update remains unscheduled.