Pi Squared has announced the launch of its Devnet 2.0 to bring \u201cinternet-speed payments\u201d to Web3 and advance its goal of 1 million transactions per second (TPS) by 2026.<\/p>\n
On Wednesday, Pi Squared, a project behind an infinitely scalable network for internet-speed payments, announced<\/a> the launch of Devnet 2.0, a major upgrade to its Web3 verifiable settlement protocol.<\/p>\n Notably, Pi Squared is building FastSet, an infinitely scalable, decentralized payments network designed to deliver \u201cuncapped throughput, internet speed finality, and real-time verifiability.\u201d The network settles transactions in parallel, which allows it to process more transactions per second than blockchains that rely on total ordering.<\/p>\n In a September blog post, the project noted<\/a> that TPS has been a key metric to evaluate the capacity, scalability, and efficiency of a credit card payment system. This metric was later adopted for the data transaction rate of cryptocurrencies, but \u201cTPS may be discouraging to use as a metric in Web3 since there is so much heterogeneity and inconsistency around.\u201d<\/p>\n Pi Squared explained that, in the protocol, \u201cTPS refers to the number of claims per second that can be effectively settled. Transactions are a typical example of claims, but FastSet is more than just settling transactions. Any verifiable statement can be settled on FastSet.\u201d<\/p>\n According to the official statement, the Web3 verifiable settlement protocol currently reaches<\/a> 150,000 transactions per second with sub-100ms finality. Additionally, it targets 1 million TPS by mainnet in 2026, aiming to deliver \u201cinstant and trustless payments at a global scale.\u201d<\/p>\n Grigore Ro\u0219u, founder and CEO of Pi Squared, affirmed that \u201cthe future of payments demands more than what blockchains can deliver.\u201d Therefore, \u201cwith theoretically uncapped TPS, sub-100ms finality, and verifiability by design, Pi Squared is ready to power global payments and financial systems at scale.\u201d<\/p>\n Per the statement, Devnet 2.0\u2019s launch advances the Pi Squared goal to build<\/a> \u201ca future where payments and all forms of transactions happen instantly, verifiably, and with negligible fees.\u201d<\/p>\n It detailed that the Devnet 2.0 is a \u201cfully accessible playground for developers to experience FastSet in action, providing a richer ecosystem, new apps, improved infrastructure, and comprehensive developer docs designed to make building on FastSet seamless.\u201d<\/p>\nA New \u2018Playground\u2019 For Web3 Developers<\/h2>\n