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Transactions Per Second (TPS)
Transactions per second (tps) is a metric used to calculate how many transactions a blockchain can process in a second. It is calculated using the below formula:
(Block Size/Transaction Size) / Block Time = Transactions Per Second
Note that a high amount of transactions per second does not necessarily result in a better blockchain. Referencing the blockchain trilemma, to some degree, projects may need to sacrifice decentralisation and security to achieve higher transactions per second through scalability.
Key Takeaway
Transactions per second (tps) measures the number of transactions a network can execute in one second.