The metric, TPS, stands for transactions per second, which would allow the system to support and process more requests in real time without running into any specific difficulties.
Matic Network first broke the news yesterday, Tuesday, July 14, in a blog post, reporting that Counter Stake CS-2008 testnet has been able to handle the volume of transactions over a sustained period. Should this become a reality, Ethereum would possibly see a huge jump in the number of successful dapps and their users.
Gaming is one of the main uses for Ethereum and having instant deposits and withdrawals, which is mostly the case now, would definitely be a huge boon. Matic believes that it can be “instrumental” in boosting the overall performance and help Ethereum overcome any constraints, allowing the ecosystem to live up to its full potential.
Ethereum 2.0, the lauded update that many hopes would solve the issue with transactions, is yet to get a field test and is currently scheduled for 2021.
Matic Network hopes to deliver scalability with an alternative proof-of-stake blockchain project. There have been other attempts to boost speeds on Ethereum. With the growth of DeFi projects and Tether (USDT), one of the most popular stable coins, there has been serious congestion on the network.
While blockchain was branded as a “free” medium of exchange, traffic has led to transaction fees which go against the grain of the network. Meanwhile, Bitcasino.io, FortuneJack, and 1xBit all offer Ethereum betting and gaming opportunities today with instant gaming capabilities, albeit still dependent on ETH transactions speeds for withdrawals.