Diem testnet surpasses 50 million transactions milestone.

The Diem testnet (formerly Libra) has processed over 52.8 million transactions. Data from a blockchain explorer indicate that the milestone has been reached.

The testnet operates with an average throughput of 3 TPS.

Dynamics of the main parameters of the Diem testnet. Source: Diem.

By this metric, the Diem network lags behind the Bitcoin blockchain (4.6 TPS), Ethereum (15 TPS) and next-generation blockchains such as Solana (65,000 TPS). The testnet interacted with more than 221 thousand addresses. One address stored more than 100 million LBR, while most held 1 LBR each.

In April, the Libra project abandoned its original concept of a global stablecoin in favour of several stablecoins, each pegged to a different fiat currency—the US dollar, euro, British pound and the Singapore dollar.

On 1 December, the Libra Association changed its name to Diem Association. In May, Facebook carried out a wallet rebrand for Libra, renaming Calibra to Novi.

German Finance Minister Olaf Scholz noted that renaming Facebook’s digital currency is not enough to ease regulators’ concerns.

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