Is there a limit to how many transactions can be processed on the Klaytn network?
Yes, there is a limit to how many transactions can be processed on the Klaytn network.
The Klaytn network is designed to process up to 10,000 transactions per second (TPS). This limit is set by the consensus algorithm used by the network, which is called Proof-of-Authority (PoA). The PoA consensus algorithm works by having a set of validators that are responsible for verifying and confirming transactions on the network.
These validators are selected based on their reputation and technical capabilities. The number of validators is limited, which in turn limits the number of transactions that can be processed at any given time. In addition to this limit, Klaytn also has a transaction fee system in place that helps ensure that only legitimate transactions are processed on the network.
This fee system works by charging users a small fee for each transaction they make. This fee helps cover the cost of running the network and ensures that only legitimate transactions are processed. Overall, while there is a limit to how many transactions can be processed on the Klaytn network at any given time, this limit is set in order to ensure that only legitimate transactions are processed and that the network remains secure and reliable.
