Now, there are several thousands of cryptocurrencies. All of them have different features, and different transaction speed. Those that are fast are normally preferred over those that are slower, if other benefits are more or less the same.
What is the fastest cryptocurrency? Let us have a look at those cryptos that are known for being among the fastest ones.
The Ripple network started its operation back in 2012. The network aimed at solving the problems that the Bitcoin network started facing. Among the major issues, such ones as transaction speed, scalability, and high fees were the priorities.
Now, the network is able to process above 1,500 transactions per second, and this value puts the Ripple network among the fastest in the world of cryptocurrency.
Another project that was trying the speed issue is EOS. It is a blockchain-based platform, and that’s why it is different from similar projects launched previously. The EOS network enables the development of DeFi. Along with it, the EOS blockchain is able to support super powerful applications. Because of this, EOS is frequently called the Ethereum killer. At the moment of writing, the EOS network can handle more than 2,800 transactions per second.
When speaking about the most efficient networks, we cannot leave Ethereum without attention. Even though many competitor projects such as EOS were launched, Ethereum still stays among the top networks in all regards.
Ethereum was launched in 2013, and in 2015, the native network token Ether came into existence. The network claims to handle over 90,000 transactions on a weekly basis. It is approximately 10 transactions per second which is not as fast as its competitors can handle.
We shall not forget though that Ethereum is in the process of shifting from proof-of-work to proof-of-stake consensus protocol. The network developers insist that after the shift, the network will be able to handle as many as 100,000 transactions per second. Considering the development speed of modern technologies, such a number is absolutely viable.
The Avalanche network with its native token is among the top blockchains. It is told to be able to handle over 4,500 tokens per second. And with it, it is the fastest platform that can support the smart contract functionality.
Another promising project is Stellar. The network can process 1,000 – 5,000 transactions per second, and the transaction settlement time is just approximately 3 seconds.
The DASH network handles around 56 transactions every second. It is the first blockchain that has introduced and is efficiently using the concept of masternodes in cryptocurrency.
Running a Masternode Is an Additional Way to Earn on Crypto
Running a masternode is a viable way to earn additional money on the coins you own. Running a masternode is not the same as mining. If you have a masternode, you get the rewards from confirming a block in any case, doesn’t matter which masternode has confirmed the block.
Each master node crypto offers different earning opportunities. However, if you want to invest in running a masternode, you need to consider some details.
First of all, you need money. To run a masternode, you need to lock a specific amount of funds in a special wallet. Usually these are significant amounts. For example, in the case with DASH, the first network that has applied the masternode principle, you need to lock 1,000 DASH coins. It was not a big issue when the project was launched and one coin was worth 1 USD. Now, though, one coin is more than 100 USD. So, to run a masternode, you need at least 100,000 USD.
So, calculate everything properly and make the right decision.