NANO Beats Ripple, EOS, NEO and IOTA in Binance Deposit Speed Test
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
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.
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.
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