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OMM Solutions
TECHtalk #7
27.09.2017 < OMM Solutions GmbH > 1
www.tech-talks.eu
Einmal im Monat ist TECHtalk Zeit! First come first served!
< OMM Solutions GmbH > 2
Talk: Scaling Blockchain Transaction
Are 1000000 Transactions / second really possible?
Speaker: Olaf Horstmann
3< OMM Solutions GmbH >
e.g. every ~10minutes for a Bitcoin-transaction
A transaction on the blockchain takes time X to “finalize”
< OMM Solutions GmbH > 4
Block
1
Block
2
Block
3
Block
n
…
$ / i
Hash from last block
$ / i
• verifies Transactions
• “builds” Block
27.09.2017
• VISA
• average of 2000 tps
• capable of 56 ktps
• PayPal
• average of 150-200 tps
• Alipay
• record of 1.05billion transactions in a single day
• peak of 120ktps
• Bitcoin
• max: 3-6 tps
• Ethereum
• max: 5-10 tps
• in comparison: Uber does 12 rides per second
Blockchains don’t really compare to payment processors yet
< OMM Solutions GmbH > 5
tps = Transactions per Second
[1] https://usa.visa.com/dam/VCOM/download/corporate/media/visa-fact-sheet-Jun2015.pdf
[2] https://web.archive.org/web/20141226073503/https://www.paypal-media.com/about
[3] https://www.techinasia.com/alibaba-alipay-1-billion-transactions
27.09.2017
Every transaction is broadcast to the whole network
• Huge amount of data if everyone has
100% of the transaction-data
• Bitcoin Blockchain already >160GB
• Some delay until everyone received the
information
Why do Blockchains perform so poorly?
< OMM Solutions GmbH > 6
$ / i
27.09.2017
Database-based Service
• Third-party service like PayPal or VISA
• Everyone transfers their money to the service and can then
execute transaction to other members of the service
Option 1
How can we improve the performance?
< OMM Solutions GmbH > 727.09.2017
Sidechains with 6-10 tps each
Option 2
How can we improve the performance?
< OMM Solutions GmbH > 8
Chain A Chain B Chain C Chain D Chain …
27.09.2017
Payment Channels
Option 3
How can we improve the performance?
< OMM Solutions GmbH > 9
Alice transfers
1 BTC
1 BTC refund after 30 days (or any other time)
Bob creates channel with
Refund-Confirmation
“Shared Account” (Multisig)
1 BTC
0.9 BTC
0.1 BTC
after TX #1after TX #2
0.6 BTC
0.4 BTC
27.09.2017
Payment Channels can also work across multiple parties
< OMM Solutions GmbH > 10
0.1 BTC
0.1 BTC
0.1 BTC
27.09.2017
Payment Channels could result in an internet-like structure
< OMM Solutions GmbH > 11
Mesh-Network Few Main-Nodes / “Internet of Money”
Amazon
Shell
Random “Big” Node
27.09.2017
• SQL Database
• Very scalable, very fast
• Off chain transactions already offered by some services (e.g. Coinbase)
• Sidechains
• Scaling through many(hundreds) smaller blockchains with each chain having
a limit of 6-10 tps
• Payment Channels
• (almost) Unlimited payments between two parties
Options and their benefits
How can we improve the performance?
< OMM Solutions GmbH > 1227.09.2017
• SQL Database
• Need to trust a third party
• Service can be hacked
• Sidechains
• Transactions between two chains require two transactions
• Payment Channels
• Requires a “channel” to be opened prior to a transaction
• at 6tps, this would result in only ~200mio channels / year
• Only helps if there is more than one transaction between two parties
Options and their drawbacks and risks
How can we improve the performance?
< OMM Solutions GmbH > 1327.09.2017
But there is not „that one solution“
Scaling is possible!
14< OMM Solutions GmbH >27.09.2017
Vielen Dank für Eure Aufmerksamkeit!
15< OMM Solutions GmbH >
Ihr persönlicher Ansprechpartner
Fragen oder Interesse?
< OMM Solutions GmbH > 16
Olaf Horstmann
Technology & Innovation
OMM Solutions GmbH
Vor dem Lauch 4
70567 Stuttgart
Germany
oh@omm-solutions.de
+49 (0)711 75 86 46 04
17< OMM Solutions GmbH >
www.omm-solutions.de
OMM Solutions GmbH
Vor dem Lauch 4
70567 Stuttgart
Geschäftsführer
Martin Allmendinger
Malte Horstmann
Olaf Horstmann
Kontakt
Telefon: +49 711 6747 051-0
E-Mail: info@omm-solutions.de
Umsatzsteuer-ID: DE295716572
Sitz der Gesellschaft: Stuttgart
Amtsgericht Stuttgart, HRB 749562
Impressum
Icons
Icons made by Freepik from www.flaticon.com
Icons made by Madebyoliver from www.flaticon.com

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Scaling Blockchain Transaction Are 1000000 Transactions / second really possible?

  • 1. OMM Solutions TECHtalk #7 27.09.2017 < OMM Solutions GmbH > 1 www.tech-talks.eu
  • 2. Einmal im Monat ist TECHtalk Zeit! First come first served! < OMM Solutions GmbH > 2
  • 3. Talk: Scaling Blockchain Transaction Are 1000000 Transactions / second really possible? Speaker: Olaf Horstmann 3< OMM Solutions GmbH >
  • 4. e.g. every ~10minutes for a Bitcoin-transaction A transaction on the blockchain takes time X to “finalize” < OMM Solutions GmbH > 4 Block 1 Block 2 Block 3 Block n … $ / i Hash from last block $ / i • verifies Transactions • “builds” Block 27.09.2017
  • 5. • VISA • average of 2000 tps • capable of 56 ktps • PayPal • average of 150-200 tps • Alipay • record of 1.05billion transactions in a single day • peak of 120ktps • Bitcoin • max: 3-6 tps • Ethereum • max: 5-10 tps • in comparison: Uber does 12 rides per second Blockchains don’t really compare to payment processors yet < OMM Solutions GmbH > 5 tps = Transactions per Second [1] https://usa.visa.com/dam/VCOM/download/corporate/media/visa-fact-sheet-Jun2015.pdf [2] https://web.archive.org/web/20141226073503/https://www.paypal-media.com/about [3] https://www.techinasia.com/alibaba-alipay-1-billion-transactions 27.09.2017
  • 6. Every transaction is broadcast to the whole network • Huge amount of data if everyone has 100% of the transaction-data • Bitcoin Blockchain already >160GB • Some delay until everyone received the information Why do Blockchains perform so poorly? < OMM Solutions GmbH > 6 $ / i 27.09.2017
  • 7. Database-based Service • Third-party service like PayPal or VISA • Everyone transfers their money to the service and can then execute transaction to other members of the service Option 1 How can we improve the performance? < OMM Solutions GmbH > 727.09.2017
  • 8. Sidechains with 6-10 tps each Option 2 How can we improve the performance? < OMM Solutions GmbH > 8 Chain A Chain B Chain C Chain D Chain … 27.09.2017
  • 9. Payment Channels Option 3 How can we improve the performance? < OMM Solutions GmbH > 9 Alice transfers 1 BTC 1 BTC refund after 30 days (or any other time) Bob creates channel with Refund-Confirmation “Shared Account” (Multisig) 1 BTC 0.9 BTC 0.1 BTC after TX #1after TX #2 0.6 BTC 0.4 BTC 27.09.2017
  • 10. Payment Channels can also work across multiple parties < OMM Solutions GmbH > 10 0.1 BTC 0.1 BTC 0.1 BTC 27.09.2017
  • 11. Payment Channels could result in an internet-like structure < OMM Solutions GmbH > 11 Mesh-Network Few Main-Nodes / “Internet of Money” Amazon Shell Random “Big” Node 27.09.2017
  • 12. • SQL Database • Very scalable, very fast • Off chain transactions already offered by some services (e.g. Coinbase) • Sidechains • Scaling through many(hundreds) smaller blockchains with each chain having a limit of 6-10 tps • Payment Channels • (almost) Unlimited payments between two parties Options and their benefits How can we improve the performance? < OMM Solutions GmbH > 1227.09.2017
  • 13. • SQL Database • Need to trust a third party • Service can be hacked • Sidechains • Transactions between two chains require two transactions • Payment Channels • Requires a “channel” to be opened prior to a transaction • at 6tps, this would result in only ~200mio channels / year • Only helps if there is more than one transaction between two parties Options and their drawbacks and risks How can we improve the performance? < OMM Solutions GmbH > 1327.09.2017
  • 14. But there is not „that one solution“ Scaling is possible! 14< OMM Solutions GmbH >27.09.2017
  • 15. Vielen Dank für Eure Aufmerksamkeit! 15< OMM Solutions GmbH >
  • 16. Ihr persönlicher Ansprechpartner Fragen oder Interesse? < OMM Solutions GmbH > 16 Olaf Horstmann Technology & Innovation OMM Solutions GmbH Vor dem Lauch 4 70567 Stuttgart Germany oh@omm-solutions.de +49 (0)711 75 86 46 04
  • 17. 17< OMM Solutions GmbH > www.omm-solutions.de OMM Solutions GmbH Vor dem Lauch 4 70567 Stuttgart Geschäftsführer Martin Allmendinger Malte Horstmann Olaf Horstmann Kontakt Telefon: +49 711 6747 051-0 E-Mail: info@omm-solutions.de Umsatzsteuer-ID: DE295716572 Sitz der Gesellschaft: Stuttgart Amtsgericht Stuttgart, HRB 749562 Impressum Icons Icons made by Freepik from www.flaticon.com Icons made by Madebyoliver from www.flaticon.com