Cross-border transactions usually take more than 5 days to be processed and validated. On the other hand, blockchain ones are processed 24 hours a day, every day so they process each and every one within seconds or minutes compared to the cross-border transactions. Because the middleman is cut out, we can expect that the transaction costs would get even smaller. Because the blockchain is decentralized, we can be sure that no one can have control over one cryptocurrency.
ETH can process 10-20 transactions per second. This is happening because this coin is extremely popular and people invest in it a lot. Despite this fact however, Ethereum surprisingly is not the best choice for a fast-transaction cryptocurrency. It does have a poor performance though considering that Ripple gets the job done in a fraction of a second
Ripple and Litecoin
These two are processing transactions much faster and even for a lower cost. Compared to Bitcoin, Litecoin can generate new blocks 4 times faster taking up to 2 minutes for the entire process to be completed. Ripple is even faster. Ripple can generate a new block in almost 4 seconds. Although ripple tends to win the hearts of totally different crowd than these three, it has proved itself that is very impressive. Ripple succeeded in offering fast transactions with very low fees and that is why it’s aiming to change the entire financial system.
The average transaction speed for Dash is 15 minutes. Its current capacity limitation is 28 transactions per second. If the block size increases to two MB, the limit will be doubled up to 6And, with two transactions in one second.
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