Changelly Analyzes and Compares Cryptocurrency Transaction Time

Changelly Analyzes and Compares Cryptocurrency Transaction Time

 Transaction time and being able to quickly and effectively send cryptocurrency is an important tenet of the cryptocurrency space. Changelly compares the transaction times of different cryptocurrencies to see what users should expect.

 Changelly, the online cryptocurrency exchange, has released a blog post on their website outlining different cryptocurrency transaction times and comparing them with one another. Transaction time is the speed it takes for a cryptocurrency network to complete and verify a transaction. If cryptocurrencies want to be used as a mainstream currency instead of just a store of value, a quick transaction time is an extremely important factor.

Besides just comparing cryptocurrencies, Changelly also compares the transaction times of traditional financial services such as Visa or PayPal. The first payment method they mention is bank wire transfers, which can take up to five days to complete internationally or around 24 hours for domestic transfer. Although this traditional system is slow, others are much more advanced. For example, PayPal can process 193 transactions for second. This may seem like a lot, but both Visa and Ripple (XRP) can process approximately 1700 transactions per second. In the crypto space as well as in traditional finance, organizations are always looking to improve their transaction processing capabilities. The five most efficient cryptocurrencies at processing transactions are:

• EOS – 3000 transactions per second

• Tron – up to 2000 transactions per second

• Ripple – 1700 transactions per second

• Stellar Lumens – 1000 transactions per second

• Cardano – 1000 transactions per second

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