NANO Beats Ripple, EOS, NEO and IOTA in Binance Deposit Speed Test
Rishabh Posted On October 18, 2018 
An analysis from Bitcoin Kit reveals that Nano (XRB) formerly Raiblocks has the quickest deposit speed with a block time of 3 seconds on Binance with Stellar Lumens (XLM) 2nd and ICON (ICX) 3rd.
The Santa Monica based company beats the likes of Ripple (XRP), EOS, NEO and even IOTA to take the first spot. The Big 2 – Bitcoin (BTC) and Ethereum (ETH) didn’t even feature in the top 20.
Here’s the Top 10 list
Image Source: Bitcoinkit.com
Why Is Nano so fast?
Nano’s instantaneous speed can be attributed to its pre-caching of the PoW (Proof of Work) for the next transaction after every transaction is sent. It’s also infinitely scalable, uses minimal resources for peer-to-peer transactions and has zero fees.
Nano also offers individual blockchain for each account with some computation power assigned to it. This means the entire ledger need not be updated for block creation.
Blockmanity’s Take
Nano is good at one thing. Instantaneous peer-to-peer transactions. Other cryptocurrencies have smart contracts, dApps and a variety of other applications that are time-consuming. With developers making breakthrough every day, we can expect the deposit times’ to reduce a considerably in the coming years.
Also Read:
ZCash (ZEC) overtakes Dogecoin (DOGE) to claim the 20th spot on Coinmarketcap
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
