Shardeum Testnet is a blockchain project that is designed to be fast, secure, and scalable. The project is currently in its testing phase, and it offers a range of growth metrics that can be used to track the progress of the network. These growth metrics are important for investors, developers, and users, as they provide valuable insights into the performance and potential of the network.

In this blog post, we will take a closer look at the growth metrics on Shardeum Testnet and discuss how they can be used to evaluate the network's progress and potential.

Transactions Per Second (TPS)

One of the most important growth metrics for any blockchain network is Transactions Per Second (TPS). This metric measures the number of transactions that the network can process per second. In the case of Shardeum Testnet, the TPS is currently around 500 transactions per second, which is a significant improvement over many other blockchain networks.

The high TPS on Shardeum Testnet is due to its innovative consensus algorithm, which is designed to be fast and energy-efficient. This algorithm uses Proof of Stake Time (PoST) to ensure that network validators have an equal chance of validating new transactions, while also minimizing the risk of centralization.

Active Addresses

Another important growth metric for blockchain networks is Active Addresses. This metric measures the number of unique addresses that have sent or received transactions on the network over a given period of time. The number of active addresses is an indicator of the network's user base and adoption.

On Shardeum Testnet, the number of active addresses has been steadily increasing over the past few months. This is a positive sign for the network, as it suggests that more users are starting to use the network and that adoption is growing.

Hashrate

Hashrate is a measure of the computational power that is being used to secure the network. The higher the hashrate, the more difficult it is for a malicious actor to launch a 51% attack on the network. A high hashrate is therefore an indicator of the network's security and resilience.

On Shardeum Testnet, the hashrate has been steadily increasing over the past few months. This is a positive sign for the network, as it suggests that more miners are starting to mine on the network and that the network is becoming more secure.

Block Time

Block time is a measure of the time it takes for a new block to be added to the blockchain. A fast block time is important for blockchain networks, as it ensures that transactions are processed quickly and that users do not have to wait long for their transactions to be confirmed.

On Shardeum Testnet, the block time is currently around 5 seconds, which is very fast compared to many other blockchain networks. This fast block time is a key feature of Shardeum Testnet, as it ensures that transactions are processed quickly and that users do not have to wait long for their transactions to be confirmed.

Network Value

Network value is a measure of the total value of all the assets that are secured by the network. This metric takes into account the market value of the network's native token, as well as any other assets that are secured by the network.

On Shardeum Testnet, the network value is currently around $10 million. This is a positive sign for the network, as it suggests that investors are starting to take notice of the project and that the network's potential is being recognized.

Conclusion

Shardeum Testnet is an innovative blockchain project that offers a range of growth metrics that can be used to evaluate the network's progress and potential. These growth metrics include Transactions Per Second, Active Addresses, Hashrate, Block Time, and Network Value.