Apple has reported that it processes approximately 285 million transactions each day on its proprietary data structure, which some have referred to as a “blockchain.” This transaction volume surprisingly surpasses that of the fastest blockchain networks in the cryptocurrency industry.
ICYMI: @Apple launched a very high throughput, permissioned blockchain!
It is capable of ~285M txns/day and helps secure the encryption behind iMessage
For comparison, avg txns/day (past 30 days):
Solana (voting) ~350M
Solana (non-voting) ~30M
— Joe | 0xOsprey.eth (@0x_Osprey) November 6, 2023
While this revelation was made in a somewhat tongue-in-cheek manner by a DeFi enthusiast using the pseudonym Joe (0xOsprey.eth), it underscores the impressive throughput and efficiency of Apple’s permission blockchain-like data structure. Joe humorously pointed out that Apple’s system manages the encryption behind text messages in iMessage while processing nearly 285 million transactions, outperforming even Solana, which is considered one of the most efficient blockchain networks in the crypto ecosystem.
It’s important to note that Apple‘s data structure isn’t a traditional blockchain in the cryptocurrency sense, but it showcases the tech giant’s ability to process vast amounts of data efficiently. While Apple has not officially announced the integration of blockchain technology into its infrastructure, the existing capabilities could indicate that the company is well-prepared to launch a blockchain-related product or service in the future.
Its foray into blockchain-like data processing is a testament to the growing interest in decentralized ledger technology and its applications in various industries, beyond just cryptocurrencies. Whether Apple will introduce a flagship blockchain product remains to be seen, but the tech giant’s current capabilities hint at its readiness to embrace this innovative technology.
This development raises questions about the potential impact of major tech companies entering the blockchain space and the innovations they could bring to the industry.