Which Cryptocurrency Has the Fastest Processing Speed?
The speed of processing, of course, is one of the most controversial topics in the cryptocurrency world. Thanks to a faster blockchain or any digital recorder technology, it is possible for a large number of operations to take place in a very short time. In this direction, a platform with fast processing speed can easily challenge many traditional payment methods.
While the results show that there are striking differences between traditional payment methods and cryptocurrencies, the differences in processing speed between cryptocurrencies are also striking.
The total speeds of the leading cryptocurrencies per second are as follows;
According to Blockchain.info; Bitcoin can now perform about 3 operations for a second at a time, and estimates show that this number can be up to a maximum of 7.
The transaction is confirmed in approximately 25 minutes. In addition, Bitcoin now has a block size of 1 MB.
Approximate processing speed of Ethereum is 6 seconds. Ethereum is seen as one of the fastest cryptocurrencies in the world, with its maximum capacity reaching 25 times as high in a second in previous tests.
Ripple’s team has stated that XRP is able to perform better than Visa, stating that it is continuously processing 1,500 transactions per second.
With a processing speed of about 4 seconds, Ripple says it can process up to 50,000 transactions per second, if necessary. (But it is not known that this has been tested yet, or the known results have not yet been publicly announced.)
Bitcoin Cash uses a larger block size than Bitcoin to get faster and cheaper transactions. According to coinanalysis.io , Bitcoin Cash can now process about 61 transactions per second.
According to the cryptocurrency Kraken, Bitcoin Cash, estimated to be about 60 minutes of transaction time, also has an 8 MB block size limitation.
The EOS is an ERC200 token that plans to release its own blockchain at the beginning of June. While the EOS remains as an Ethereum-based token, its operations are confirmed by the ERC200 Ethereum network.
EOS’s process confirmation time lasts about 6 minutes.
Litecoin can do about 26 transactions per second and maximum transaction capacity per second is 56. Litecoin’s process time is 30 minutes in average on the moment of transaction confirmation.
Cardano (ADA) is now verified that it has performed approximately 5-7 transactions per second. Details of the process are scarce, but users generally report that it makes verified transactions within about 3-5 minutes. In addition, every transaction made is accompanied by evidence legitimacy.
The team made several special changes on the platform with the departure of the Ripple protocol in 2014. The team at Stellar says the network is doing 1,000 operations today, and the processing time varies between 2 and 5 seconds.
The real-time IOTA platform now has about 3 transactions per second and the transaction verification time is 2 minutes.
NEO’s development team says that this platform can perform 1,000 operations at the moment. The team also claims that everything is theoretical and technology can now reach 10 thousands operations at the moment.
Neo’s processing speed is 15-20 seconds.
The number of transactions per second is determined when Monero is created to be scaled with more volume. At the moment, Monero can process approximately 4 transactions per second and its transaction verification time lasts for about 30 minutes.
According to the developers, Dash has about 48 transactions capacity per second. The average real verification time for Dash ranges from 2 to 10 minutes.
NEM’s creators say that he can perform “hundreds” of operations per second, and their verification time usually takes about 1-2 minutes.
It is widely known that Qtum can typically perform about 60-70 transactions per second. The average duration of these operations is approximately 4 to 5 minutes.
Wawes has a maximum of 1,000 transactions per second and the average transaction time is between 1 and 30 seconds.