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Algorand is a blockchain known for fast transactions , sub 4 seconds, with instant finality . In this post we will review the foundation’s distribution of Governance rewards by transactions per second (TPS) and to see how reward distribution TPS has changed across Governance periods.
Reward Distribution TPS
Governance Period Distribution Date Eligible Govs TPS Period 1 January 3, 2022 50,099 42.18 Period 2 April 5, 2022 37,223 41.97 Period 3 July 2, 2022 35,466 28.25 Period 4 October 4, 2022 27,476 57.79 Period 5 January 6, 2023 28,697 52.78 Period 6 April 5, 2023 22,426 42.79 Period 7 July 4, 2023 26,453 87.43 Period 8 October 4, 2023 Period 9 January 5, 2024
Calculating TPS
*Period 7 was the first period users could become an xGov. Some eligible governors had rewards deposited into a beneficiary account that were distributed outside of the observed transaction calculations.
Please note, my calculations focus on the first distinct wave that accounts for the vast majority of the reward distributions. There is a slight discrepancy between eligible Governors and included transactions in my calculations.
The foundation’s goal has never been to distribute rewards as quickly as possible.
Feel free to check my work by copying the Google spreadsheet below with all the variables.
Algorand Governance Reward TPS Spreadsheet
Foundation Response
Shane, a member of the Algorand Foundation, responded to my reddit post with some great insights on reward distribution TPS.
Unfortunately, the main bottleneck isn’t the blockchain but for all Foundation spending we have third party custodians that essentially need to approve the transactions. So unfortunately we can only be as fast as their API allows. But improvements are being made!
Source
Post Inspiration
Recently the VP of Engineering at Algorand, Gary Malouf , tweeted round times may be reduced with the next consensus upgrade. With the upcoming reward distribution for Governance Period 6, I wanted to see if the foundation will flex Algorand’s capabilities.
Period 6 Calculations
Special thanks to Algorand Observer , which is part of the D13 Collective . They create great content and are invaluable to the Algorand ecosystem. In response to this post they ran the numbers for period 6 distributions, with more granular details.
Current Throughput
The theoretical limit is currently 6,000 transactions per second, stated in the post Algorand Boosts Performance 5x in Latest Upgrade by Noah Grossman on September 15, 2022.
However, on December 26, 2022, Gary Malouf , tweeted.
Which he states as being at least 10k TPS.
With the tremendous and continuous development of Algorand’s superior blockchain technology it’s an exciting time to be involved with the Algorand ecosystem.
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