When it comes to the financial system, many customers are tired of having to wait for the validation of payment. Can you imagine sending your sister in a different country money, through a bank. Normally that can take more than 3 days and that was on top of high transaction costs. Now, there is blockchains which help customers like this.
A blockchain is able to be validated at anytime without any 3rd party help, so you donít have to worry about paying an arm and a leg in fees. Yet, because of this being a new technology, there are issues. When it comes to cryptocurrencies, the TPS or transaction per second, that is the issue. Even though most transactions are done in just a minute or so, most of them are not as fast as using PayPal or Visa. Take PayPal for instance, they can process 193 transactions per second. Visa can process up to 20,000 transactions per second.
Sometimes your cryptocurrencies have different handling times. Ehtereum is 20 TPS while Bitcoin is 7 TPS. Below are the best blockchains.
This is a Mainnet that is based on blockchain technology. It uses DDPOS which is Double Delegated Proof of Stake, which is a newer algorithm which solves the issue of the tradition DPOS method, which is a 3rd generation technology. In DDPOS, blocks are created every round and your Futurepia node and master node become representative nodes but in a random order. This increases processing speed. However, based on more recent data, the mainnet speed has been verified to be more than 300,000 TPS and was actually certified by the Korea Lab Accreditation Scheme or KOLAS.
This was created in 2018 and it is a popular mainnet for speed. During the launch, it was at 3000 TPS, and that was big news. It became the fastest blockchain and it passed Visa TPS speed at that time. As of this moment, EOS has a TPS of 50,000.
This is one of the most secure and fastest blockchains out there. The average TPS is over 1700. The transaction speed that they have could make them one of the best peer to peer payment platforms.
This is a newer blockchain that claims to have TPS that range from 1000 to 10,000. Just like EOS and Futurepia, this platform uses blockchain technology as well as digital identity to help automate management and digitize assets using smart contract. This platform is looking to start a Smart Economy.
This platform can only handle 65 or more TPS on average, which is a bit more than Litecoin. However, bitcoin cash is definitely up there based on the market cap, even if Bitcoin Cash has issues with the block size.
These blockchains do not consider any of the new and upcoming small blockchain platforms that have already gained millions in TPS. The platforms that are listed are all based on the market cap.