Replying to Avatar Lyn Alden

Fedwire processed over $1 quadrillion in gross settlement volumes in 2022.

There were approximately 196 million transactions, averaging $5.41 million each.

This is an average of 6.2 transactions per second.

https://void.cat/d/EcVWHmzP1kinp8XdAEv25b.webp

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charlie 2y ago

Sorry for asking, but what does it mean #[1]? Is this good, bad, impressive, peanuts? Maybe this is good for bitcoin? 🤷💫

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Lyn Alden 2y ago

Well for one, it shows how large a settlement system can be despite doing less than 7 transactions per second, thanks to layered architecture.

Fed wire is basically the centralized closed-source version of bitcoin.

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charlie 2y ago

Aha, thanks! âš¡1K

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Luffy 2y ago

Hey Lyn. But fedwire is only US isn't it? Would be interested to know what global settlements might look like in terms of transactions per second and amounts. Prob not too easy to compile that data tho I'm guessing.

Appreciate you!! Take it easy