Is there a limit to how many transactions can be made on the NEM blockchain?
Yes, there is a limit to how many transactions can be made on the NEM blockchain.
The NEM blockchain has a maximum transaction rate of 10,000 transactions per second (TPS). This means that the network can process up to 10,000 transactions in one second. This is much higher than other blockchains such as Bitcoin and Ethereum which have maximum transaction rates of 7 and 15 TPS respectively.
The NEM blockchain also has a limit on the number of transactions that can be stored in a single block. Each block on the NEM blockchain can store up to 120 transactions. This means that if more than 120 transactions are sent in one second, they will be stored in multiple blocks.
In addition to these limits, the NEM blockchain also has an overall limit on the number of transactions that can be processed over time. This limit is determined by the amount of XEM tokens held by users in their wallets. The more XEM tokens held by users, the higher the overall transaction rate will be for the entire network.
Overall, there is a limit to how many transactions can be made on the NEM blockchain but it is much higher than other blockchains and it is determined by both the maximum transaction rate and the amount of XEM tokens held by users in their wallets.
