The Proof-of-Authority (PoA) consensus, crypto project Bitgert which was introduced on February 14, 2022, claims to have the fastest TPS of 100,000. Additionally, the Bitgert team hopes to challenge VisaNet.
Not only that, with a transaction fee that is generally US $0.0000001, it provides you with satisfactory speed for hardly any money. Its tremendous expansion has been attributed to the absence of gas taxes. The platform supports web 3.0 applications, decentralized finance (DeFi) initiatives, smart contracts, and much more.
With a view to reaching a wider audience, the company has developed its collaborations.
However, Visa was pointed out by someone with some clout (influence), quoting their impressive 24,000 transactions per second.
Except this is not entirely true.
In truth, it's utterly inaccurate. In practice, Visa rarely carries out over 1,700 transactions per second. Visa claims the highest transactions per second, which is the one that is commonly used when comparing Bitcoin and other blockchains to it.
The average debit card cost in 2020 was $0.23, or 0.65 percent of the transaction value, according to the Federal Reserve.
In most cases, debit card transactions will cost you much more than Bitgert because interchange fees typically cost retailers 1.40 percent of the transaction value. which we mentioned earlier that Bitgert's transaction fee is only US $0.0000001.
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