According to Justin Bons, Solana and Cardano have inflated their numbers concerning TPS, and he has questioned the veracity of such data among crypto enthusiasts.
Such fabrications in TPS could risk defaming its image and scare investors, leaving many calling for homogenizing the reports produced in the crypto space.
Bons openly complains about Cardano's approach to estimating TPS, stating that the network manipulates data to make the numbers look higher.
Solana (SOL) and Cardano (ADA) are under pressure as Cyber Capital's founder, Justin Bons, claims these networks deceive investors by impersonating high TPS capabilities. As for TPS, both platforms have been accused of reporting artificially high numbers, which has caused cryptocurrency community members to question such numbers' credibility.
https://twitter.com/Justin_Bons/status/1824837998170513450
Bons has accused Solana and Cardano of exaggerating their TPS numbers, with Solana being charged with increasing the TPS by a factor of 6.5 and Cardano by 26. 5. Solana claims to have approximately 10.000 TPS, but Bons states it should be closer to 739. Cardano is even worse; according to Bons, the actual TPS for the network is only 0.4, which contradicts the commonly advertised 18 TPS.
Impact of TPS Variability on Investor Trust
The analyst also noticed that the claims regarding the maximum TPS for both networks differ. Solana, for example, is said to be capable of 65,000 TPS, while Cardano is said to handle 477 TPS. Bonus counters these claims by providing data indicating that Solana's maximum theoretical TPS is roughly 50,000 because of cryptographic restrictions, though failed transactions bring this number down to 10,000.
Bons takes Cardano to task over how it measures TPS, where the network defines several outputs as many transactions, leading to inflated TPS numbers. He points out that such an approach could be used in other blockchains like Bitcoin. However, it is not standard practice in the industry. Bonus believes that if similar standards were used, many networks could report higher TPS numbers and mislead the market.
Such allegations cast doubt on the credibility and accuracy of the reported data, which may have negative implications on investors’ confidence in those networks. Bons’ work shows that it is imperative that information submitted about cryptocurrencies be truthful and presented in such a way that conveys precise meanings since wrong data may cause severe ramifications. So far, the debate is still open, and the crypto community is still waiting for clarification from Solana and Cardano about their TPS statistics.
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