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Offline xeroc

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BitShares 2.0 Technologies
High Performance and Scalability



Over 100,000 transactions per second
High performance blockchain technology is necessary if crypto-currencies and smart contract platforms wish to provide a viable alternative to existing financial platforms. BitShares is designed from the ground up to process more transactions every second than VISA and MasterCard combined. With Delegated Proof of Stake, the BitShares network can confirm transactions in average of just 1 second and limited only by the speed of light.

full length
« Last Edit: June 08, 2015, 06:32:08 PM by xeroc ¯\_(ツ)_/¯ »
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Offline ebit

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xeroc补充了比特股2.0里面的"高效能以及可延展性"是什么意思: 交易一秒确认以及系统可处理每秒10万笔交易 (over 100,000 TPS), 超过了VISA以及MasterCard的总和。
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Offline starspirit

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100000+ TPS is an enormous jump and this will be simply amazing.

We also should be aware that exchanges do require more TPS than payment facilitators. For example, in this linked article the CIO of NYSE Euronext, which runs NYSE plus other exchanges around the globe, says they deal with millions of transactions per second. That could just be a flippant remark, as it actually sounds too high to me. But it supports the notion that exchange transaction frequency could well be a lot higher than payment facilitators like Visa and Mastercard. See https://www.fsf.org/working-together/profiles/new-york-stock-exchange

It may be that advancements Cryptonomex make in network upgrades stay ahead of the curve for our exchange volume (certainly light years ahead at this point). I'm interested to know what the thought is about the long term future though, should bitShares exchange grow to match something like Euronext. Can exchange and payment functionality exist on a single block-chain, or might there come a point where exchange functionality requires its own block chain, linked to the payment block-chain in some way. Anyway, it doesn't need answering now. Just a curious thought I had about the future.


Offline lil_jay890

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Most of those "transactions" are high frequency trades that are being placed and canceled within milliseconds in order to attempt to front run large orders.  Hft opponents have been trying to place a fee for canceled orders in order to eliminate the hft manipulation.

Offline monsterer

I just wanted to get some clarity on the meaning of this 100,000 number.

* Are we talking about matched orders -> output transactions here (as in LMAX) ?
* Are we talking about transaction verification as in blockchain sync?
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Offline pc

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I just wanted to get some clarity on the meaning of this 100,000 number.

* Are we talking about matched orders -> output transactions here (as in LMAX) ?
* Are we talking about transaction verification as in blockchain sync?

We're talking of applying transactions to the internal ledger database. Not sure if that includes matching market orders (probably yes). This is by nature a serial process and the only real bottleneck in the whole system.

We're not talking about verifying transaction signatures or hashes, as that can be sped up through parallelization.
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Offline xeroc

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Afaik LMAX can handle 6m+ order matchings on a single thread .. bottleneck is the storage backend a.k.a. the block/smart chain
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Offline Akado

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Do we have more tests done that can prove a high rate of transactions per second? https://bitcointalk.org/index.php?topic=1157409.msg12193669#msg12193669
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Offline chryspano

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Do we have more tests done that can prove a high rate of transactions per second? https://bitcointalk.org/index.php?topic=1157409.msg12193669#msg12193669


I don't know if this is of any help...

[00:32:55] bytemaster: I will try to say this cleanly. Vitalik saying they could theoretically do 115,000 TPS is a theoretical assumption based upon implementing complex algorithms for dividing up the transaction work-load among multiple nodes, so that not all nodes have to process all transactions. All of his whitepapers on the subject involve dividing up the work among multiple nodes. What we have done with our numbers are the amount that can be processed by a single node and not theoretically, the numbers we published are actual benchmark results based on average computers today. not only that the published number of 100,000 transactions per second is scaled down from our actual benchmark result of 180,000 transactions per second, which itself was based upon average hardware and not high end hardware. So with high end hardware we could easily do over 200,000 TPS and that’s before we have done any optimizations whatsoever to the performance. Most optimizations can easily double or triple the throughput once we eliminate the bottlenecks we have left by better memory management and allocation strategies. There are a lots of little things we could do to improve performance above and beyond that. So I would say that if you’re going to compare apples to apples you would have to compare theoretically how much can each of our systems do in a single thread.

https://beyondbitcoin.org/bitshares-dev-hangout-bytemaster-stealth-confidential-transactions/

Offline luckybit

It looks like people are skeptical. Bytemaster is going to have to prove the benchmark took place. We might believe him because we trust him but the Bitcoin community probably doesn't.

Bitshares is a vertical scale and it'll never be able to process 100,000 tx/s on commodity hardware let alone expensive server boxes.  Even the very fastest CPUs at the moment will struggle to validate 30,000+ signatures per second and that is before doing anything else with regard to transactions like verifying outputs, read/writes to the DB etc...

I haven't seen any evidence of stress testing that proves BitShares's claim or the claims of any other crypto, and until we do, it should be taken as false advertising.
https://bitcointalk.org/index.php?topic=1157409.msg12193669#msg12193669

Quote
Bitshares is a vertical scale and it'll never be able to process 100,000 tx/s on commodity hardware let alone expensive server boxes.  Even the very fastest CPUs at the moment will struggle to validate 30,000+ signatures per second and that is before doing anything else with regard to transactions like verifying outputs, read/writes to the DB etc...

I haven't seen any evidence of stress testing that proves BitShares's claim or the claims of any other crypto, and until we do, it should be taken as false advertising.

Yes, it's worrying that they seem to be promising something that for it to be accurate would probably break the laws of physics(1 second block times?).

This isn't the first I've had issues with Bitshares marketing and claims. I think it's very much a legit project, but they go about it in a way that often reflects poorly on themselves.


The best way in my opinion to prove these people wrong is to actually find some way to make use of the transactions per second to exploit the fact that the other projects don't have that capability. This would mean generating lots of volume which would have the side effect of being good for the Bitshares price.
« Last Edit: August 21, 2015, 05:22:15 AM by luckybit »
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Offline Samupaha

Bitshares is a vertical scale and it'll never be able to process 100,000 tx/s on commodity hardware let alone expensive server boxes.  Even the very fastest CPUs at the moment will struggle to validate 30,000+ signatures per second and that is before doing anything else with regard to transactions like verifying outputs, read/writes to the DB etc...

I haven't seen any evidence of stress testing that proves BitShares's claim or the claims of any other crypto, and until we do, it should be taken as false advertising.

Doesn't this blog post answer how the processing power is achieved?

Offline Akado

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I don't know if it's possible but you know what would be awesome? Make a live stream showing that. Would catch everyone's attention and place BitShares on people's radar! Would love that to happen, what do you think? It would definitely be a feat. A feat that would be proven, meaning there would be no space for arguments, only for articles at all crypto magazines. Headlines: BitShares steps up and pushes transactions to 100,000 per second [with video]. BAM! Half of crypto lovers turn instantly BitShares fanboys.

btw, getting this from reddit https://www.reddit.com/r/Bitcoin/comments/3hufd9/nasdaq_our_plans_with_the_blockchain/ check out the top comment  8)

"What are some of the things the blockchain isn't suited for yet?

For exchanges where you have very high – millions of quotes in a second – recording those quotes into an immutable ledger would be interesting. But we are not so sure that the blockchain, at least not currently, has the capability to accommodate those kinds of volumes and speed requirements that you need for those purposes."

« Last Edit: August 21, 2015, 05:58:30 PM by Akado »
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