Ripple Transaction Speeds Crushing Bitcoin and Ethereum
As Bitcoin struggles with unconfirmed transactions and Ethereum remains clogged with digital cats, new leaders in fast and reliable cryptocurrency transfers are emerging.
For now, Ripple is at the top of the list. This development has been noted on a few news outlets and on Reddit for months, but it has been little noticed until the recent struggles of Bitcoin and Ethereum.
Ripple transfers complete in a matter of seconds, while transactions through the Bitcoin and Ethereum blockchains can take hours upon hours to complete.
Amid that frustration, the number of daily transactions on the Ripple network have surged from 160,000 to more than 1,000,000 in the last six weeks.
Transaction times are a main focal point for Ripple, which aims to take over the banking sector and replace traditional financial payment solutions like SWIFT.
This is a point of contention for many enthusiasts in the cryptocurrency space, who want digital currencies to replace banks altogether.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.
Check Out the Latest Headlines
Leave A Comment
Comments 4
-
Jeff Hill
Feb 25, 2018As cryptocurrencies move from speculative asset to practical use for payments transaction speed will be key. Customers are used to instant payment with todays technology, consumers wouldn’t be willing to go backwards from here with extended wait time. Also agree with above banks will not lie down and watch cryptocurrencies over run them, they will evolve and adapt with technologies like Ripple
-
fee
Dec 19, 2017Bitcoin currently has 174,000 transaction awaiting confirmation. Ripple would still be at 0! Why is Ripple not the #1 digital currency. If this is a fight over the better technology, Ripple wins hand down! If it is a fight over use case potential, Ripple wins hands down. So is Bitcoin simply the cool kid in High School, while Ripple is the nerd. Well guess what, nerds usually grow up to become leaders!
-
dcsfwsfrwerfw
Dec 18, 2017for the realists in the house, banks are not going to lie down and die. They are already adapting and adopting to new technologies, AKA; Ripple. If Ripple succeeds, XRP becomes the liquidity for the majority of transactions, eventually. So their success is tied together, regardless of what the bitcoin fanatics like to claim!
-
joooc
Dec 18, 2017couldn’t agree more
-
Comments 4
Jeff Hill
Feb 25, 2018As cryptocurrencies move from speculative asset to practical use for payments transaction speed will be key. Customers are used to instant payment with todays technology, consumers wouldn’t be willing to go backwards from here with extended wait time. Also agree with above banks will not lie down and watch cryptocurrencies over run them, they will evolve and adapt with technologies like Ripple
fee
Dec 19, 2017Bitcoin currently has 174,000 transaction awaiting confirmation. Ripple would still be at 0! Why is Ripple not the #1 digital currency. If this is a fight over the better technology, Ripple wins hand down! If it is a fight over use case potential, Ripple wins hands down. So is Bitcoin simply the cool kid in High School, while Ripple is the nerd. Well guess what, nerds usually grow up to become leaders!
https://blockchain.info/unconfirmed-transactions
dcsfwsfrwerfw
Dec 18, 2017for the realists in the house, banks are not going to lie down and die. They are already adapting and adopting to new technologies, AKA; Ripple. If Ripple succeeds, XRP becomes the liquidity for the majority of transactions, eventually. So their success is tied together, regardless of what the bitcoin fanatics like to claim!
joooc
Dec 18, 2017couldn’t agree more