As everyone knows, since its launch in 2009, Bitcoin has dominated the cryptocurrency scene. To this day, it remains the leader of the cryptocurrency market in 2021.
But it has also inspired many new cryptocurrencies alongside their blockchains that have started to emerge since 2009. Today, there are over 1,500 new cryptocurrencies on the market.
It seemed useful to us to give you a summary of the top crypto currencies with the fastest blockchain in 2021. Our analysis is based on data collected through our internal information systems and the analysis of financial market experts.
Key Takeaways
•Speed is Litecoin’s main goal, and in 2017 it was the first to apply the Lightning Network, which marked the first transaction to be completed in under a second.
•The special thing about Ripple is that all the coins were released at the same time, so no extraction is necessary.
•Monero hide the identity of senders, recipients, minors as well as the transferred amount.
So here are the Top 10 Cryptocurrencies with the fastest blockchain:
1. Ethereum (ETH)
Launched only in 2015, Ethereum (ETH) has become the second most popular and important crypto currency.
Ethereum is a platform that allows other distributed applications (dApps) to run on it, as well as other tokens and smart contract applications.
If Bitcoin (BTC) is a blockchain, then Ethereum is an Internet blockchain. Ether is the cryptocurrency that allows transactions on the Ethereum platform.
2. Litecoin (LTC)
Litecoin (LTC) is one of the early spinoffs of Bitcoin and works much the same as its godfather. But as the name suggests, it was designed to be faster than its predecessor.
Litecoin has faster block generation which therefore means faster confirmation of transactions.
Speed is Litecoin’s main goal, and in 2017 it was the first to apply the Lightning Network, which marked the first transaction to be completed in under a second.
SEE ALSO: Best Blockchain Node Providers – All you Need to Know
3. Bitcoin Cash (BCH)
Another offshoot of the original Bitcoin, Bitcoin Cash (BCH), was the most successful of all.
Bitcoin Cash has the same mining process as well as the same supply limit as Bitcoin, but notably, its block size is 8MB against 1MB for Bitcoin. This allows more transactions to be carried out at a faster speed.
4. Ripple (XRP)
Ripple was designed as a global settlement network to enable instant, low-cost money transfers. XRP is the cryptocurrency that powers the network.
The special thing about Ripple is that all the coins have been released at the same time, so no extraction is necessary.
Ripple has secured widespread use cases, making XRP the most attractive crypto coin for financial institutions and banks.
5. Cardano (ADA)
The Cardano Project (ADA) aims to achieve financial inclusion by striking the delicate balance between privacy and regulation.
Cardano’s architecture is multi-layered, including a settlement layer to process transactions as well as a control layer to manage smart contracts. ADA is the crypto-coin that works on the platform.
6. Monero (XMR)
The Monero (XMR) was designed to ensure complete anonymity, and when it was launched it was billed as the private crypto coin. It can hide the identity of senders, recipients, minors as well as the transferred amount.
It does this by applying a special technique known as “ring signatures,” where multiple cryptographic signatures are generated for a transaction, all of which appear genuine, making it difficult to identify the real one.
7. NEO (NEO)
NEO, by far the largest and most successful crypto coin to emerge from China, has been dubbed “Chinese Ethereum” because it is not only a coin, but also a platform that enables the development of decentralized applications and smart contracts.
It still performs better than Ethereum, however, because it is relatively faster to complete transactions and allows the creation of smart applications and contracts in all major programming languages.
SEE ALSO: 7 Best Bitcoin Blockchain Explorers for Confirming Transactions
8. Tether (UDST)
Tether (UDST) pioneered blockchain-based stable coins. This is the creation of utility tokens that represent fiat currencies in a 1: 1 ratio with the obvious benefit being the efficiency of cross-border payments through secure, fast, and less expensive blockchain technology.
The chain is pegged to the US dollar and designed to be more or less equal to one US dollar. The idea is that other low-spinning crypto coins can be easily converted into Tether, which can easily be converted into US dollars.
9. Stellar lumens (Stellar)
The Stellar Lumens (XLM) is based on a distributed blockchain, designed to facilitate the cross-border transfer of valuable assets. Stellar seeks to make it easier, more convenient and cheaper for banks, payment systems and people to transfer money around the world.
Lumens is the most promising cryptocurrency at the moment as it has announced partnerships with major financial institutions, ensuring that its Lumens token has caught the keen attention of investors in 2021.
10. Zcash (ZEC)
If Bitcoin is HTTP, then Zcash is HTTPS. This is one of the analogies that Zcash (ZEC) uses to describe itself, which denotes a strong emphasis on privacy.
Like other crypto coins, Zcash is based on the open source distributed ledger, but unlike them, Zcash boosts security and privacy by allowing users to control what is shared on the blockchain.
The addresses of shielded wallets and their underlying balances are not visible on the distributed ledger, but users can share special viewing keys with relying parties in cases where audits or compliance is required.
SEE ALSO: 6 Best Blockchain Certification Training Right Now
Frequently Asked Questions (FAQ)
1. What Are the Best Companies With Blockchains?
There are many good blockchain companies out there each with their own unique features. A few of them include: BitMEX, Chainalysis, Coinme, Netki, Paxful, Spring Labs, etc.
2. Which Crypto Sends the Fastest?
Ripple is rated among the coins with the fastest cryptocurrency transaction speed. The Ripple blockchain processes around 1,500 transactions per second, and the average time needed for a transaction approval is 3 – 5 seconds.
3. Which Crypto Has the Most Potential?
There are various cryptocurrencies out there which have been showing great potentials or possess the abilities to show great potentials.
A few of them include: Ripple (XRP), Cardano (ADA), Polkadot (DOT), Dogecoin (DOGE), Stellar (XLM) etc.
Make sure you do enough research on the potentials of these coins, their motives and their risks before you decide to invest in any of them.
Final Thoughts
Bitcoin continues to dominate the cryptocurrency space in terms of popularity and market capitalization, but it has also led to the creation of multiple promising crypto coin in 2021, eager to improve its limits.
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