Transaction capacity per second (TPS) is block capacity divided by the block interval in seconds. The average size of a transaction is 350 bytes, so a 1 MIB block can contain 2,995 transactions and, with a block interval of 600 seconds:

• a 1 MIB block supports 4, maybe 5 TPS
• a 2 MIB block supports 9, maybe 10 TPS
• a 4 MIB block supports 19, maybe 20 TPS

What if blocks only contain TXIDs instead of full transaction data? An attacker might exploit the lack of transaction data by fabricating a false transaction history and then, for each phony transaction, iterate through the output payment address like a nonce until it's TXID matches one in the block. To fix this, each TXID is paired with it's output group hash (OGH). An output group hash is generated from a transaction's group of outputs. An attacker can't match both the TXID and OGH, so the block references can safely be used to validate full transaction data, which is queried separately.

If the OGH is also 256 bits:

• a 1 MIB block will support 27 TPS
• a 2 MIB block will support 54 TPS
• a 4 MIB block will support 109 TPS

Of course, it gets even better with a shorter block interval.