Justin Bons, founder of Cyber Capital, has called out Solana (SOL) and Cardano (ADA) for allegedly misleading investors about their transaction speeds. Bons claims both projects greatly exaggerate their transactions per second (TPS) figures.
According to Bons, Solana is overstating its speed by 6.5 times, while Cardano’s claims are off by 26.5. He argues that both networks are ignoring industry standards for measuring TPS.
Source: Bons ,s X Post
Solana advertises a theoretical 10,000 TPS, but Bons puts the figure at just 739. For Cardano, he says the actual speed is a mere 0.4 TPS, far below its claimed 18 TPS. Bons takes issue with even higher maximum TPS claims. Solana boasts 65,000 TPS at peak, while Cardano claims 477 TPS. The analyst insists these numbers don’t add up.
Bons did some math to support his argument. He says cryptographic limits cap Solana’s true top speed at about 50,000 TPS. He points to EDDSA verification as a major bottleneck. Failed transactions further drag Solana down to a 10,000 TPS ceiling.
Solana Analyst Criticizes Cardano’s TPS Metrics
As for Cardano, Bons accuses the project of artificially inflating its numbers by counting multiple outputs as separate transactions. He argues that this isn’t standard industry practice.
Bons notes that other chains, like Bitcoin, could use similar tricks to claim much higher speeds. Using Schnorr signatures, Bitcoin could hit 400 TPS. But he says no one does this because it’s not an accepted performance measure.
The analyst suggests the crypto world might accept Cardano’s method if every project used the same standard. This could boost reported TPS figures across the board by about 20 times.
Related Reading | Goldman Sachs’ $418M Bitcoin ETF Surge: A New Era in Digital Finance
Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.
Comments (No)