Analysis names Nano, Neo, XRP, and others among cryptocurrencies with the fastest transaction speed on Binance $NEO




According to a crypto coin tracker in charge of monitoring coins deposit transaction speed on major exchanges, has named Nano as the fastest cryptocurrency on Binance.

Bitcoin Kit released a breakdown which places Nano on top, with transactions requiring a Block time of 3 seconds and one information. Next on the list is Stellar Lumens followed by ICON, Skycoin, XRP and EOS.

Nano (NANO)

On Nano, Wallets pre-cache the anti-spam Proof of Work for the next transaction once a transaction is sent, making transactions instantaneous, as both sides have the proof of work ready to go. For ongoing transactions there may be delays, but this is intentional to prevent transaction spam.

In the crypto world, transaction speed is one of the features most talked about. A distributed ledger is more likely to become a go-to platform, if it can process a large number of transactions. For instance, Traditional payment companies such as Visa can be challenged with cryptocurrencies with a fast transaction speed. It is also vital for smart contracts execution and useful for traders who wish to efficiently move coins from one exchange to another.