Which Crypto Has The Fastest Transaction Time?
Do you know which crypto is the fastest in the crypto realm when it comes to transaction speed? This has always been a deciding element for the utility of any coin because cash transactions are practically instantaneous. In the case of cryptocurrency transactions, the situation is different. But in a nutshell, transaction processing speed refers to how quickly money is transferred from point A to point B. Different blockchains create currency with different transaction processing times, making its adoption and usage a bit more difficult. So, which cryptos have the fastest transaction time on the market today, and what is the best place to exchange these coins? Keep on reading to learn about the fastest crypto!
Which Cryptocurrency Is Fastest?
It’s now time to look at the cryptocurrencies with the quickest transaction times. While there are many new crypto projects claiming to be able to handle millions of transactions per second, we prefer to focus on cryptocurrencies that have been around for a while and have already proven to be valuable in the long run. The following are the fastest crypto coins on the market.
Stellar Lumens or XLM is an open-source financial network that helps financial institutions integrate blockchain technology. It’s a decentralized technology that allows for low-cost digital currency transactions and was created on July 31, 2014, by Jed McCaleb and Joyce Kim.
What Is Stellar Lumens?
So, what is Stellar Lumens XLM? Stellar Lumens is a blockchain-based, open-source, decentralized peer-to-peer network for currencies and payments. It enables the complete cycle of digital currency representation, i.e., the creation process by purchasing, selling, and sending digital money (including fiat) worldwide.
XLM Transaction Time
For transaction verification, the Stellar network depends on Unique Node Lists. With a transaction settlement time of 3–5 seconds, the Stellar network can process 1,000–5,000 transactions per second.
XRP, the native currency of digital payment network RippleNet, is arguably the most well-known of these four lightning-fast cryptocurrencies. According to Ripple, the average cross-border XRP transaction can validate and settle in only a few seconds, which manages RippleNet. But what is Ripple XRP?
What Is Ripple?
Ripple is a project that began a few years ago intending to provide a safer alternative to financial institutions. Chris Larsen and Jed McCaleb, co-founders of Ripple, launched the digital currency in 2012. Ripple works in a similar way to the SWIFT system for international money transfers and security. The ticker sign XRP is used to identify Ripple coins, which are all pre-mined.
Ripple is one of the cryptocurrencies with the fastest transaction speeds. The Ripple blockchain processes roughly 1,500 transactions per second, with a transaction approval time of 3 to 5 seconds on average.
If you’ve never heard of this token, you may be asking yourself, “What is Nano coin?” NANO is one of the altcoins that can complete transactions in a matter of seconds. It was first released as RaiBlocks in 2017 but was later renamed Nano in 2018. It contains a 1.7GB blockchain, and each user has one blockchain associated with their account.
What is Nano?
Nano, originally known as Raiblocks, is a new cryptocurrency that first appeared in 2017. It is extremely fast and scalable, thanks to its block-lattice technology.
XNO transaction time
Nano’s processing speed is unrivalled, and transactions on its blockchain are confirmed in 1–10 seconds. It also conducts transactions without charging fees or requiring energy-intensive mining.
The Hedera Hashgraph project was founded by Dr. Leemon Baird and Mance Harmon and introduced an entirely new kind of Distributed Ledger Technology (DLT). This new technology, hashgraph, helps enhance numerous blockchain-based alternatives in a variety of ways, including speed, affordability, and scalability.
What Is Hedera Hashgraph?
Hedera Hashgraph token (HBAR) is now ranked in the top 50 most popular cryptocurrencies and has approximately $6.69 billion in market capitalization. The Hedera protocol is the most stable and widely used enterprise-grade public network in the decentralized economy because users can build complicated dApps (decentralized applications) on it.
HBAR Transaction Time
Hedera transactions have a low average transaction cost of $0.0001 and are usually completed in less than 5 seconds. While Proof-of-Work (PoW) blockchains can only manage 5 to 20 transactions per second (TPS), Hedera Hashgraph can support over 10,000 TPS (TPS).
XEC is not an ERC-20 token; instead, it is a blockchain that is similar to Bitcoin. The developers of eCash (XEC) aim for the coin to be compatible with the Ethereum Virtual Machine (EVM) and interoperable with the Ethereum Decentralized Finance (DeFi) sector (ETH).
What Is eCash Coin?
eCash is a digital currency that was created as a result of a Bitcoin Cash hard fork. Because Bitcoin Cash is a hard fork of Bitcoin, the Bitcoin Cash ABC token is very similar to Bitcoin. For example, both coins have a total supply of 21 million tokens, and for their functioning, both digital assets have used the same consensus approach.
Fastest Crypto: XEC Transaction Time
This platform serves three primary objectives, mainly in terms of blockchain advancements. For instance, it aspires to achieve a transaction throughput of more than 5 million per second, to improve the payment experience by reducing transaction finality time. The eCash blockchain also seeks to make the protocol fork-free and extend it.
Fastest Crypto Transaction Times
So, which crypto has the fastest transaction time on the market? These five coins are only a few fastest crypto tokens, but there are many other fast ones that you can find. This comparison table sets the five coins we mentioned in a more organized way:
How to Exchange the Fastest Crypto?
You may be wondering if there is a good crypto exchange to trade the fastest crypto. We can assist you in seeing it through. To get all these cryptocurrencies and more in your wallet, use Swapzone by following the steps below:
- Go to the Swapzone website.
- Choose the pairing of coins you want to exchange: for example, the XRP to HBAR pair.
- Add the amount of XRP you want to trade for the Hedera coin, and Swapzone will provide you with the best rates, offers, and deals from multiple exchanges and also show the number of HBAR you will get for your Ripple coins.
- Then, click on “Exchange” and input your wallet address.
- Click on “Proceed to Exchange”, and the platform will get out the reviews of the exchange you chose to buy from.
- Now, wait until the website completes your deposit, and the trade is made.
- Finally, rate the exchange partner and leave a review, so users will know which website is the best.