Here is How XRP is Designed to Revolutionize Global Payment with 293M+ Txns a Day

In a recent tweet, prominent XRP influencer Alex Cobb revealed some impressive statistics about the capabilities of the XRP Ledger (XRPL) blockchain.

Cobb spotlighted that XRP can process 3,400 transactions per second (TPS). He further broke down the figure into minutes, hours, and days to help the crypto community visualize the XRP blockchain capability better.

In particular, Cobb highlighted that the XRP 3,400 TPS translates to 204,000 transactions per minute, which in turn implies a remarkable 12.24 million transactions per hour. And on a 24-hour scale, Cobb stated the XRP token can facilitate over 293 million transactions per day.

XRP can handle 3,400 Transactions per second

That's:
204,000 per minute
12.24 Million per hour
293 Million per day

XRP is truly designed to be a global utility asset for banks all around the?

— Alex Cobb (@AlexCobb_) October 3, 2023

Furthermore, Cobb pointed out that the staggering figures highlight XRP’s suitability as a global utility asset, particularly for the banking sector worldwide. 

“XRP is truly designed to be a global utility asset for banks all around the world,” the XRP influencer remarked. 

The assertion underscores the potential for XRP to be an attractive choice for financial institutions seeking to harness the power of blockchain technology. A comment to Cobb’s tweet humorously likened XRP’s transaction capability to the legendary marathon runner Usain Bolt.

Expert Disagrees 

Meanwhile, Daniel Keller, an XRPL ambassador and the Chief Technology Officer (CTO) at Eminence, provided a dose of reality to the XRP 3,400 TPS boast. Note that this figure is on the official XRP page on the Ripple website.

Keller clarified that the 3,400 TPS is merely a theoretical figure obtainable in a controlled lab environment under perfect conditions. According to Keller, in the real world, where conditions are imperfect, XRP can not hit 3,400 TPS.

When asked about the realistic TPS of XRP in practical scenarios, Keller explained it based on experience and available data. Specifically, he mentioned that the real-world XRP transaction speed typically ranges between 500 and 700 TPS.

Depending on who you ask, 500 to 700 based on the experience and data we have so far.

— Daniel ??? (@daniel_wwf) October 3, 2023

Besides, Ripple’s CTO recently confirmed this claim, as The Crypto Basic reported. Until recently, the XRP development team has advertised that XRP can facilitate 1,500 TPS. The Crypto Basic reported that the XRP blockchain’s capability increased from 1,500 to 3,400 early last month.