Turbo Protocol has announced the launch of a groundbreaking blockchain at the Blockchain Application Stanford Summit on Tuesday. This new platform can process 400,000 transactions per second, a staggering 4,000 times faster than Solana, a well-known high-throughput blockchain.

Parallel Transaction Processing

The project is a part of a broader move to experiment with parallel transaction processing. This method allows for recording multiple transactions simultaneously, unlike the sequential processing on Ethereum. This shift aims to make blockchain transactions faster and more efficient.

For context, Ethereum's base layer processes 20 to 30 transactions per second. Solana handles a little over 1,000 transactions per second. Global payments giant Visa settles about 24,000 transactions in the same timeframe. Turbo Protocol’s performance is unparalleled, making it a significant milestone in blockchain technology.

Demonstration at the Summit

Turbo Protocol’s CEO, Aaron Greenblatt, showcased the live blockchain during his talk at the summit in New York City. He highlighted that applications launched on Turbo Protocol's Layer 2 network would not need to compete over Ethereum gas fees.

"Any web3 project that is looking to move heavy computational workloads on-chain can use Turbo Protocol," Greenblatt stated. This includes projects in decentralized AI, gaming, and social verticals.

Addressing Ethereum’s Limitations

Since its inception in 2015, Ethereum has struggled with slow transaction processing times and high fees. Users often face expensive fees during peak periods as they compete to have their transactions included in a block.

Layer 2 networks like Turbo, Optimism, and Polygon are exploring various methods to create more efficient blockchain platforms. These platforms aim to batch transactions and eventually roll them up onto the main Ethereum blockchain.

Turbo Protocol’s new blockchain is a promising solution for developers looking to handle heavy computational workloads on-chain. It offers a significant speed advantage and alleviates the issue of costly gas fees, making it an attractive option for a wide range of web3 projects.