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In blockchain, transactions per second (TPS) is the number of transactions a blockchain network can process each second or the number of transactions executed per second. The term is quite popular in the crypto space, especially when talking about scalability.
To calculate TPS, you have to know the block time, the average transaction size, and the block size. Block time is the average time it takes to create a new block in a chain. Bitcoin’s is 10 minutes. The average transaction size you’ll have to calculate. The block size is the size of a block in a chain. Bitcoin’s is 1 MB.
If we use an example, a block size of 1MB with an average transaction size of 1 Kb and a block time of 30 seconds will equate to a theoretical TPS of 33 (1MB/1Kb)/30 seconds=33).
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