NANO Vs. Ripple’s XRP – Deposit Speed Test Is Performed Via Binance Exchange

During the bull run of 2017, a lot of traders have shared notes regarding which crypto is the fastest one when sending funds across exchanges.

The global trading volume grew, and a lot of traders were disappointed to find out that Bitcoin (BTC) and Ethereum, (ETH) networks were getting congested all the time which meant that the crypto transfers were delayed.

There had to be a solution, and some traders had discovered that Litecoin (LTC) was pretty fast and they started using it in order to transfer funds across exchanges.

But more coins were tested and turned out to be even faster.

Using XRP to transfer funds across exchanges

Time passed, and traders discovered that XRP is an even faster option than LTC when you’re moving funds across exchanges.

The XRP community currently has an ongoing campaign to have the digital asset added as a base currency on the Binance crypto exchange.

NANO is ranked number 1 on Binance transfers

Bitcoin Kit tested the exchange’s deposit speed just recently, and NANO managed to surpass XRP.

It was labeled as the fastest digital asset when it comes to transferring funds to Binance. Stellar (XLM) was the second, and XRP occupies only the fifth position.

FireShot Capture 235 Binance Deposi  https   www.bitcoinkit.com fastest exchange deposit binance 1024x679 - NANO Vs. Ripple's XRP - Deposit Speed Test Is Performed Via Binance Exchange

Binance is a NANO network representative

Experts and crypto enthusiasts have been investigating the reasons for which NANO scored that well and performs so great in terms of speed.

Ethereumworldnews found out that Binance is, in fact, a representative on the NANO network.

If we also take into consideration that NANO is fast indeed (it requires less than 5 seconds to finish a transaction), it’s pretty understandable that it tops the list.

A representative on the NANO network is an account which casts votes in the case of a fork in the network.

More than that, “A good representative is a node that has high uptime (so it can vote frequently) and a locally stored wallet containing accounts that other users can delegate to. Maximizing the number and diversity of representatives increases network resiliency.”


Coins Mentioned

XRP

XRP

BTC

Bitcoin

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

1936 Articles

Top Exchanges
Icon
CEX.IO

3

Website

Icon
Coinbase

2

Website

Icon
Binance

1

Website

Top Casinos
Icon
7bitcasino

4.20

Website

Icon
BitStarz

4.93

Website

Icon
FortuneJack

4.55

Website

Top Sportsbook
Icon
1xBit

4.03

Website

Icon
Nitrogen Sports

4.73

Website

Icon
SportBet.io

4.60

Website

Trending news