Cryptocurrency is a major investment in modern times, and the current situation of the financial market has brought about an unprecedented boom as traditional stocks take a back seat to the crypto revolution. For a long time, monetary payment systems have been plagued by numerous inadequacies, from long wait times to high transaction fees and cyber-attacks. Digital currencies are a result of constant efforts to resolve these issues.
One of the salient points of cryptocurrency is speedy payments. The decentralized nature of these coins means that they are not tied to any financial institution or central bank. With no intermediaries dragging out the processing time, cryptocurrency is transferred instantly between the sender and the recipient. However, with the numerous coins available on the market, these three cryptocurrencies are currently the fastest.
After its launch in 2018, this crypto was swiftly nicknamed “Ethereum Killer” for its processing speed. It processes at 1.5 seconds and has a network capacity of 3,000 transactions per second. The EOS protocol aims to eliminate transaction fees entirely and promote scalability. The network also features dApps infrastructure and is currently one of the trending digital tokens on the market.
Ripple processes over 1,500 transactions per second, which is almost seven times faster than international e-wallets like PayPal. The average speed of transaction is four seconds, and this fast processing time is accompanied by payment fees at just a fraction of a cent. Through an inter-ledger protocol, XRP facilitates cross border financial payments and remittance issues.
Stellar Lumens (XLM)
This decentralized blockchain currency is very similar to the Ripple token because it is a hard-fork of the XRP protocol. Developed as a platform for connecting banks, payment systems, and people, this open-source platform has a transaction speed of 5 secs per transaction at extremely low costs.
Speed and Scalability
There is a significant point to consider when determining the fastest cryptocurrency, and that is the network transaction volume. Network transaction volume refers to the number of users on the network at any given time. The top cryptocurrencies are being scaled considerably more than the less popular coins, and that often lengthens the processing and settling of transactions.
Whether fiat or crypto, the fastest networks are rapid and scalable, and the speed of financial payment solutions is measured based on the number of transactions processed per second. Apollo currency (APL) is currently the world’s fastest cryptocurrency with a processing time of sub-seconds to 2 seconds per transaction. This crypto, developed by Apollo Fintech, is on its way to becoming the first-ever dApps infrastructure with a capacity for limitless storage, thereby providing optimal speed and scalability.
As other stock markets continue to struggle, another asset following the crypto trend is gold. With a stable historical track record for retaining value and appreciation, it is one of the best investment routes. Gold Secured Currency (GSX) is an Apollo hosted crypto that is backed by the asset. Also, due to the fact that it is hosted on the Apollo blockchain, GSX boasts the super speed of APL and is a worthy runner up. GSX is currently on pre-sale at 50% off.
As more industries show a growing interest in crypto payments, the need for the fastest and most advanced cryptocurrency will only increase. Various government and commercial sectors are already implementing crypto payments, and the benefits of faster transaction speeds can be seen in travel agencies, shipping and transport, real estate, the online gaming industry, and other industries leading the cryptocurrency rally. More scope means more investment, and for a currency that thrives on demand, more investment will translate to more growth. To start investing in the fastest cryptocurrencies like Apollo currency (APL) and Gold Secured Currency (GSX), visit BitMart.com.