Justin Bons, the founder of Cyber Capital, has accused Solana and Cardano of misleading investors with “fake” metrics for transaction per second. Bons claims that Solana is misleading investors by a factor of 6.5, while Cardano does the same thing by a factor of 26.5.
Bons accused Solana of ignoring industry standards when calculating TPS. Their theoretical figures for SOL and ADA were 10,000 TPS and 18, respectively. Cyber Capital’s founder believes SOL’s value of TPS is 739 while ADA’s value is 0.4.
Bons, meanwhile, claimed that there were massive discrepancies between the widely-publicized maximum TPS of Solana and Cardano. According to the analyst, claims that 65,000 TPS maximum for SOL and only 477 for ADA are not accurate. He shared figures from the two protocols, suggesting that the published figures are incorrect.
Bons’ argument was supported by calculations that reduced SOL’s theoretical TPS from 50,000 to approximately 50,000. He cited cryptographic restrictions as bottlenecks reducing the protocols’ TPS. Bons believes that EDDSA is the bottleneck with the lowest TPS. He also pointed out that failed transactions are a bottleneck, which limits SOL’s theoretical maximum TPS to 10,000.
Bons also accused Cardano for counting multiple outputs separately. The TPS figures are therefore significantly higher. According to the researcher almost all other chains could batch transactions without incurring additional costs. However, none of them do, as it is not a widely accepted industry practice.
He noted that Bitcoin could achieve the same result using Schnorr Signatures, claiming 400 TPS. Bons believes the crypto industry will accept Cardano’s batching-influenced TPS numbers if they apply the same standard across all chains.
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