XRP, the third largest cryptocurrency in the world, surpassed Bitcoin in terms of daily transactions and has held that position for over a couple of days.
Tiffany Hayden an XRP enthusiast tweeted the same:
BREAKING: The $XRP Ledger has done more transactions per day several days in a row than #Bitcoin ever has. (1/3)
— Tiffany Hayden (@haydentiff) May 2, 2019
XRP Ledger has a close time of approximately 3-5 seconds, which also makes it faster than Bitcoin and this is partially possible due to XRP Ledger’s ‘Consensus Protocol’. As of May 01, 2019, the number of daily transactions for XRP hit 568,959, while that of Bitcoin was 437,389 transactions.
Source: XRPCharts
XRP’s highest recorded transaction was last seen on January 01, 2018, when the daily transaction hit 1.658 million txns per day. Bitcoin’s highest recorded transaction was more or less during the same timeframe as it hit 490,459 txns per day on December 14, 2017.
Tiffany Hayden further tweeted:
“According to blockchain.com, 490,644 in December of 2017 is the highest number of txs Bitcoin has ever confirmed.
The $XRP LEdger processed more transactions per day than Bitcoin’s maximum for 22 out of the 30 days in April. (3/3)
#XRPTheStandard #0doubt”
Moreover, the XRP Ledger consistently handles about 1,500 transactions per second, while Ethereum handles about 15 transactions per second. Surprisingly Bitcoin registers the lowest, as it handles 3-6 transactions per second.
Ripple plans to revolutionize the payments industry with their solutions built on top of XRP’s blockchain and by leveraging XRP, as it enables faster payment and even faster settling time
A Twitter user @Stargazer95rg tweeted:
“It will be much more exciting when the number of payments per day exceeds Bitcoin. Most of these transactions are offer/remove offer transactions I believe.”
Ripple’s cryptographer and software engineer replied:
“A transaction is a transaction. Placing and removing offers takes time too and such transactions are more computationally expensive than the only transaction possible in Bitcoin: a BTC to BTC payment.”
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