Waves blockchain consists of a decentralized trading platform and a digital ledger. Recently, it made the news thanks to a newly set record and a milestone for the company, as it managed to handle 6.1 million transactions in real time during a stress trial. The findings of the test revealed that the platform functioned seamlessly and without any delays whatsoever, while the load was increasing. Additionally, not a single transaction was slowed down.
As per PYWAVES, the blockchain registered a collective number of 108,741 transactions, 60,933 of which were Mass Transfers. According to Waves, these transfers are created to handle as many as 100 transfers at once, which is where the 6.1 million figure comes from.
There are other blockchains that seek to replace the slow BTC transactions. Ethereum was supposed to solve this issue, but encountered the same issues with speed because of the CryptoKitties, which significantly deprived the blockchain of its speedy operational times.
Waves has established a technology named Waves NG, which allows a better scaling for the network through the selection of cryptominers in advance, therefore the latency becomes minimized, while the throughput reaches its peak levels. The implementation of such protocol assisted the Waves blockchain in reaching unprecedented amounts of transactions.