293M TXN Per Day? Expert Shows That XRP Is Designed To Be a Global Utility Asset For Banks

Renowned crypto influencer Alex Cobb has recently taken to his X handle to sensitize his 150k followers on the capability of XRP Ledger (XRPL), which serves as a testament to the primary motive behind the emergence of XRP.

Notably, the shared estimation was centered on XRPL efficiency, especially in terms of transaction speed and the number of transactions that could be completed on the blockchain per second.

XRP Can Be a Multinational Utility Asset For Banks

Giving a breakdown of XRPL transactional speed data, Cobb asserted that the blockchain can complete 3400 transactions per second (TPS).

As if that was not enough, he broke down these statistics on minute, hour, and daily basics, to better educate the general public.

The XRP influencer noted that the 3400 TPS would amount to 204,000 transactions per minute, summing up to 12.24 million transactions per hour and 293 million transactions daily.

Stressing further, Cobb added that with the above impressive figures, it is safe to assert that XRP is on the right path to becoming a multinational utility asset for banking firms.

The crypto enthusiast noted, “XRP is truly designed to be a global utility asset for banks all around the world.”

Reactions From The Crypto Community

As expected, Cobb’s assertion grabbed the attention of the crypto community members, who took to the comments section of his tweet to relay their takes on the influencer’s submissions.

An X user with the pseudonym CryptoSkeeter posted a comic response, likening XRP to Usain Bolt as a marathon runner.

CryptoSkeeter tweeted, “Well if XRP was a marathon runner, it’d probably make Usain Bolt blush! That’s an impressive speed indeed. Has anyone checked if it’s wearing rocket boots?”

Another X user compared Bitcoin’s transaction efficiency to that of XRP, noting that XRP runs a smoother transaction without consuming enormous amounts of electricity.

XRPL Ambassador Disagrees With Cobb’s Submission

Daniel Keller, an XRPL ambassador, was among those who commented under Cobb’s comment; the XRPL ambassador noted that Cobb’s submission of 3400 TPS was just a theoretical concession that cannot hold in the real world where there might be some limiting factors.

In his response, he remarked, “In a lab. Under perfect conditions. In the real world, where conditions are not perfect, it can’t.”

When quizzed about a practical and realistic number of transactions the XRPL blockchain could handle, Daniel replied, “Depending on who you ask, 500 to 700 based on the experience and data we have so far.”

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Chinedu Agbakwusi

Chinedu Agbakwusi is a medical student at the prestigious Nnamdi Azikiwe University with sound knowledge of the crypto space. I am here to be a reliable plug for well-researched crypto content ranging from crypto news to market analyses and blockchain inventions.