Top 10 Cryptocurrencies with Fastest Transaction Speeds in 2023
Ever wondered why your crypto transactions sometimes feel slower than a snail's pace? In this age of one-click shopping, we want everything now. While Bitcoin, the pioneer of peer-to-peer digital cash, has revolutionized the way we transfer value across the internet, its original blockchain can feel somewhat sluggish. Even the introduction of Bitcoin Lightning Network, although a step in the right direction, has raised concerns about centralization and security. So, you may be wondering which cryptocurrency reigns supreme when it comes to transaction speed? Time to finality (TTF), high throughput (TPS), and low fees are all vital factors in the quest for a cryptocurrency that can be adopted and used as a P2P cash. In this article, we'll delve into the top 10 fastest cryptocurrencies that are leading the charge in this exciting tech race. Whether you're a seasoned crypto enthusiast or just dipping your toes into the realm of blockchain or dag technology, you'll soon discover the most efficient options available, making your digital transactions as fast as possible.
Please note that I did not include transaction times of these cryptos during extreme usage/high load because most of these are relatively new and they don't provide such information. Therefore, our focus will be on their baseline transaction speeds and capabilities. Additionally, changes are being made constantly to the code of these cryptocurrencies, potentially impacting transaction speeds and throughput.
Nano (XNO): Nano boasts a remarkable finality time of 365-535 milliseconds, as reported by NanoSpeed Monitoring Tool.
Sei (SEI): Sei offers a swift finality time of 380-500 milliseconds, according to data from SEI website.
Sui (SUI): Sui achieves an impressive average finality time of 480 milliseconds, as disclosed in a performance update on their official blog.
Solana (SOL): In contrast to others, Solana's finality time spans from 600 milliseconds to 6 seconds, as determined by various sources and tests within the Solana community.
Aleph Zero (AZERO): Aleph Zero reports a finality time of 900 milliseconds, as confirmed on their official website.
Aptos (APT): Aptos Network maintains an average finality time of 900 milliseconds, as shared in a tweet from their official account.
Avalanche (AVAX): Avalanche boasts an average finality time of less than 1 second, as reported on their official blog post.
Internet Computer (ICP): Internet Computer maintains an average finality time of 1.4 seconds, as reported on the Internet Computer Wiki.
Fantom (FTM): Fantom offers a finality time of 1-2 seconds, as mentioned on the Fantom Foundation website.
Vite (VITE): Vite maintains an average finality time of 2-5 seconds, as observed through various sources and tests within the Vite community.