First Fast Ethereum Scaler Achieves 12K TPS On Testnet

Rushi Manche, the co-founder of Movement Labs, has announced that their Ethereum scaling solution is reaching 12,000 transactions per second (TPS) on its testnet.

Source: watcher.guru

Movement Labs aims to be the first fast Ethereum layer 2 solution, with Manche claiming that it can process nearly double the number of transactions per second compared to its fastest competitor at its peak. Launched on July 30, the Movement Lab’s testnet has reached over 12,000 TPS, and Manche stated that, in theory, it could handle between 30,000 and 50,000 TPS. In an interview during Korea Blockchain Week, Manche explained the impressive performance of Movement Lab’s testnet and outlined the factors contributing to its high speed.

Currently, the highest real TPS among Ethereum layer 2 solutions is achieved by Polygon, which processes 190 TPS. This figure is significantly lower than its advertised maximum speed of 7,000 TPS. On the other hand, Solana leads in real TPS with 1,053 transactions per second, though this is only 1.6% of its theoretical maximum of 65,000 TPS.

Manche attributes Movement Lab’s high speed to the use of the Movement Lab’s programming language, originally developed by Facebook for its abandoned Diem project. Movement Lab’s ability to process multiple transactions concurrently, rather than sequentially, allows it to achieve such high TPS. Manche explained, “If you have 1,000 transactions, traditional methods require waiting for each one to complete before starting the next, which is quite slow.” Movement Labs allows for concurrent execution of transactions, making it much faster.

Achieving maximum TPS depends on network usage and volume, with increased user activity and transaction frequency driving up the TPS. Currently, Movement Lab’s testnet supports 44 decentralized applications (DApps), including Telegram-based Mini Apps, which contribute approximately 10% of the total TPS. Manche noted that consumer and social applications typically demand higher TPS compared to decentralized exchanges like Aave and Curve Finance. Telegram-based tap-to-earn game apps have surged in popularity, attracting millions of users and even causing extended periods of downtime for Telegram’s associated blockchain. 

Manche commented that people want the ability to use apps on their phones, so they are seeing a lot of Telegram-based apps. There are tap apps, Mortal Kombat, and various mini-games, all generating significant transaction volume. The Movement Lab’s mainnet does not yet have a publicly available launch date, but Manche indicated that it is coming up soon. These developments position Movement Lab’s scaling solutions as a significant advancement in the Ethereum ecosystem, potentially setting new standards for speed and efficiency in blockchain technology.

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