We are beyond excited to announce that the engineering team recently completed the first full Logos prototype and conducted a rigorous benchmark with outstanding results. Running full consensus and transaction validation under realistic conditions, the prototype processes over 17,000 transactions per second (tps) with an average latency of less than 2 seconds.

This result is substantially higher than we were anticipating based on our (conservative) models, and it immediately positions Logos as the premier decentralized payments technology. And this is without many optimizations and scalability features like sharding that we will be adding!

As a point of comparison, Visa process approximately 2,500 tps with a latency of 5–7 seconds on average, and Bitcoin and Ethereum are at 7 and 15 tps, respectively.

Another noteworthy accomplishment by the team is the creation of our first Logos iOS wallet demo that represents the first of many user-facing applications we will be building out.

The team has exceeded expectations in ways not normally seen for such an early stage company, and these results are a testament to the high quality of our engineers. In just three months, we have successfully gone from very little code and a new team to a highly performant prototype of a complex network — not an easy feat, and there is much more to come!