- 08 Jul, 2018
Researchers at University of Sydney are currently developing red belly blockchain capable of processing over 440,000 transactions per second. Visa network processes approximately 56,000 transactions per second, whereas bitcoin network with supply limitation of 21 million can handle nearly seven transactions per second. Ethereum on the other manages around 20 transactions per second while Paypal processes over 450 payments per second.
Experts says that the new red belly blockchain is resistant to forking and is not subject to double spending as opposed to mainstream public blockchains. With the absence of forking, there will be no need for any number of confirmations. It can treat thousands of transactions coming from potentially unbounded number of clients. It offers a performance that scales horizontally without compromising security.