The blockchain world seems to be facing a paradox: while new projects constantly emerge boasting superior performance over predecessors, Ethereum—with its slower transaction speeds—remains the dominant platform. This raises a critical question: Are we experiencing blockchain overproduction?
The Performance Paradox: Claims vs. Reality
Countless projects advertise themselves as "Ethereum killers" or "next-gen public chains," promising:
- Throughput of thousands to millions of TPS (transactions per second)
- Near-zero transaction fees
- Scalability solutions surpassing Ethereum’s limitations
Teams showcase technical benchmarks comparing their chains to traditional payment systems like Visa or PayPal, creating an illusion that blockchain is poised to revolutionize global finance overnight.
Yet, reality tells a different story:
- Ethereum still processes 96% of all decentralized applications (DApps) despite its lower TPS.
- High-performance chains like EOS (21 nodes) or NEO (dBFT consensus) achieve faster speeds but sacrifice decentralization—a core blockchain principle.
Key Trade-Off: Decentralization vs. Efficiency
Blockchain’s "impossible triangle" dictates that security, scalability, and decentralization cannot coexist at maximum levels simultaneously. Projects prioritizing speed often centralize validation:
| Blockchain | Nodes | TPS | DApps (Oct 2023) |
|------------|-------|-----|------------------|
| Ethereum | 13,543| ~15| ~2,000 |
| EOS | 21 | 4,000| ~60 |
| NEO | ~7 | 1,000| ~20 |
👉 Why decentralization matters more than TPS
Decentralization ensures:
- Censorship-resistant development
- True ownership of digital assets
- Trustless security (e.g., Ethereum’s 99% fault-tolerant nodes vs. EOS’s 15/21 node vulnerability)
The Empty Highway Problem: High TPS, Low Utilization
1. Developer Shortage
- Ethereum’s 250,000+ developers dwarf other chains.
- Tools like Truffle and Web3.js create a virtuous cycle of innovation.
- Result: Even chains兼容 EVM (e.g., Tron, Qtum) struggle to attract migrated DApps due to minimal user bases.
2. DApp Ecosystem Imbalance
DappRadar data reveals:
- 80% of activity concentrates on gambling/exchange apps.
- Games like EOSBet show 600 users generating 370K daily trades—likely bot-driven.
- Authentic user engagement remains <1% of traditional app traffic.
3. User Adoption Barriers
- Complex onboarding: MetaMask, gas fees, and private keys intimidate newcomers.
- Example: Fomo3D peaked at 10K daily users—0.0007% of Facebook’s daily activity.
The Path Forward: Ecosystem Over Hype
Priorities for Public Chains:
Developer Incentives
- Build robust toolkits (e.g., Ethereum’s Infura).
- Offer grants for meaningful DApps—not just gambling clones.
User Experience Revolution
- Mask blockchain complexities (e.g., WalletConnect for seamless logins).
- Onramp fiat-to-crypto integrations.
Real-World Utility
- Focus on niches where decentralization adds value (e.g., supply chains, identity verification).
👉 How OKX bridges users to blockchain effortlessly
FAQ Section
Q: Why hasn’t Ethereum been replaced by higher-TPS chains?
A: Network effects—developers and users prioritize decentralization and security over raw speed.
Q: Are high TPS claims misleading?
A: Often yes. Theoretical TPS ≠ real-world usage. Chains like EOS achieve speed via centralization.
Q: Can blockchain ever match Visa’s scale?
A: Not without sacrificing decentralization. Layer-2 solutions (e.g., rollups) offer a middle ground.
Q: What’s the biggest hurdle for DApps?
A: Onboarding. Most users won’t tolerate 10-step setups when apps like Venmo "just work."
Conclusion: Utility Trumps Speculation
The blockchain space doesn’t need more high-performance chains—it needs better reasons to use them. Until projects address developer support and user accessibility, even million-TPS blockchains will remain ghost towns.
Final Thought:
"Blockchain’s value isn’t in moving data faster—it’s in moving ownership differently."