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.