The number of transactions the network can execute in a second, as well as how quickly it can complete a trade or exchange, is referred to as transactions per second (TPS). The average transaction speed is important since it shows how many transactions the network can currently handle.
The average speed will slow down if a cryptocurrency is seeing an increase in transaction volume. Congestion is better managed by a network if it is faster. This increases its payment efficiency as a result, which raises the likelihood that it will be adopted by an institution or an individual.
Over the years, significant research has been done in the area of creating technologies that boost the transaction pace of blockchains. Regarding their capacity to scale for rising demand, these decentralized networks present entirely new difficulties.
