Facebook’s testnet has been live for over a month as the Libra Association prepares for the next stage with broader participation among members. 

Facebook’s Libra Moves a Step Ahead 

The latest update from the blockchain explorer finds the network performing at an average of six transactions per second (TPS), with the highest reported figure of 24 TPS. 

In comparison, Bitcoin and Ethereum blockchains execute close to four and 13 TPS, respectively. On the other hand, VISA support 1,700 transactions each second. 

Blockchain explorer stats for Facebook's Diem.
Blockchain explorer stats for Facebook’s Diem. Source: Indiem.info

The testnet will be looking to upscale throughput and evaluate the performance of the network. 

The top address contains 9.1 trillion LBR units. The test net is running close to 10 trillion tokens in 31,184 addresses. 

Joe Lallouz, the CEO, Bison Trails, a member of the Libra Association, told Finance Magnates:

“Moving from a testnet to a mainnet is a huge milestone for Libra.”

Libra is planning to roll the testnet “out and into the hands of potential users, potential customers, and potential companies.”

Allegedly, the Libra Association is planning for a January launch with a USD-backed stablecoin. However, the dates of a public launch are still unclear. 

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