Stripe’s new blockchain project, Tempo, is facing early scrutiny despite raising $500 million at a $5 billion valuation.

The network was introduced with bold claims of solving scalability issues seen in traditional blockchains like Bitcoin, which processes around 5 transactions per second (TPS). Tempo was projected to handle up to 10,000 TPS, positioning it as a high-capacity solution for institutional payments.

However, recent on-chain data from Token Terminal and Dune Analytics shows that Tempo is currently processing approximately 2.5 TPS significantly below both its projected capacity and Bitcoin’s current average.

Tempo’s mainnet launched on March 18, following strong backing from major investors including Thrive Capital, Sequoia, GreenOaks, Ribbit, and SV Angel. $BTC $USDC #