Infranger highlighted the scalability and interoperability of the XRPL, emphasizing its status as one of the most efficient blockchain networks. He noted that the network’s transaction speed, typically completing within 3 to 5 seconds, has been reliable for over a decade. This swift transaction speed was previously underscored by SpendTheBits, a payment platform on the XRPL, last October.
The XRP network consistently logs over 1 million transactions per day due to its remarkable speed, according to Infranger. He stated that more than 2.6 billion transactions have been processed on the XRP Ledger, exceeding Ethereum‘s transaction count.
Despite these impressive figures, Infranger stressed that enhancing the performance of the XRP Ledger remains a priority for RippleX developers. He indicated that RippleX and its developer community are continually striving to improve the infrastructure.
On-chain data provider Bitinfocharts supported Infranger’s assertions. Since the latter half of 2020, XRP has consistently logged daily transactions above 1 million. There were several notable surges in transaction count on the XRP Ledger from January to March this year, reaching an annual peak of over 2.35 million transactions on March 19.
Even though XRP underwent a significant price correction in August, daily transactions remained above 1 million. Conversely, daily transaction counts on both Bitcoin and Ethereum networks have been comparatively lower. While Ethereum’s transaction count is close to XRP’s, XRP’s daily transactions have consistently outpaced Ethereum’s. Bitcoin records an average of 400,000 daily transactions—150% less than XRP.
Ripple’s quarterly report in January revealed that the XRPL processed over 106 million transactions in Q4 2022, equivalent to more than 1.13 million daily transactions. The figure was slightly higher in Q2 2022, with 114 million transactions recorded.
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Source: Cryptocurrency - investing.com
