- Infranger highlights XRPL’s collaboration and scalability limits. He still views the network as one of the most scalable and efficient chains.
- Despite this impressive achievement, Infranger confirmed that improving the performance of the XRP
Ledger is the most important issue for RippleX developers.
- The XRP Ledger has seen several increases in transaction numbers from January to March this year, reaching its peak on March 19 with 2.35 million transactions annually.
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As the growth continues on the XRP Ledger, the number of transactions on the network surpasses those of Bitcoin and Ethereum: Over 1 million daily transactions!
The Expanding Ecosystem and Strong Foundation of XRPL
Marcus Infranger, Vice President of RippleX Growth, discussed the status of the XRP Ledger (XRPL) and developments that could further strengthen its foundation in a recent interview.
Infranger highlighted XRPL’s collaboration and scalability limits. He says the network is still seen as one of the most scalable and efficient chains. Infranger stated, “Transactions are happening within 3 to 5 seconds, extremely reliably for over ten years.”
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A payment platform on XRPL, SpendTheBits, took note of this impressive speed back in October. The team noted that moving BTC on the Bitcoin network takes between ten minutes to an hour, while it can be done on XRPL within three to five seconds using SpendTheBits.
In his interview, Infranger emphasized that due to its extraordinary speed, the XRP network consistently handles over a million transactions daily. In his words:
“Right now, there are a million transactions a day, and 2.6 billion transactions have taken place on the XRP Ledger. That’s more than Ethereum, by the way. It’s been a very efficient blockchain from the beginning.”
Despite this impressive achievement, Infranger confirmed that improving the performance of the XRP Ledger is the most important issue for RippleX developers. According to him, RippleX and the developer community are continuously working to enhance the infrastructure.
XRP Continues to Maintain Over 1 Million Daily Transactions
Interestingly, on-chain data provider Bitinfocharts corroborates Marcus Infranger’s claims. Particularly since the second half of 2020, XRP has consistently recorded over a million transactions daily.
The XRP Ledger saw several increases in transaction numbers from January to March this year, reaching its peak on March 19 with 2.35 million transactions annually. Even during the significant price correction in August, the transaction count remained above a million.
In contrast, daily transaction counts on the Bitcoin and Ethereum networks were relatively lower. Although Ethereum has been competitive with XRP in this metric, daily transactions on the XRP network consistently exceeded those on the Ethereum network.
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The Bitcoin network operates at a much lower level of daily transactions compared to XRP. Despite being the leading cryptocurrency, Bitcoin averages around 400,000 daily transactions. In this regard, XRP processes 150% more daily transactions than Bitcoin.
Ripple’s quarterly report for January, in particular, showed that XRPL processed 106 million transactions in the fourth quarter of 2022. This translates to over 1.13 million transactions daily, and in the second quarter of 2022, it reached 114 million transactions.