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Top 6 Cryptocurrencies With the Highest Transaction Throughputs

Blockchain and cryptocurrency projects are always competing with one another. Although that may not seem to be the case on the surface, there is a fierce competition going on in terms of scalability. According to blocktivity, here are the top six cryptocurrencies that have achieved the highest transaction throughput in their career.

#6 Bitcoin

bitcoin logo

The world’s leading cryptocurrency is rather disappointing when it comes to processing large batches of transactions. Although it seems to generate the highest value throughput every single day, the number of actual transactions before hitting the ceiling has not surpassed 670,896 to date. Future scaling solutions may help address that problem moving forward

#5 Ethereum

ethereum logo

The world’s second-biggest cryptocurrency ranked by market cap fares better than Bitcoin in terms of overall transaction throughput, yet it still struggles when looking at the bigger picture. Its highest throughput to date has been recorded at 1,372,918 transactions, which is a rather solid number. Unfortunately, it is far from what is needed in this day and age, thus future scaling solutions will become all the more important.

#4 Bitcoin Cash

bitcoin-cash-logo

To date, the highest BCH throughput sits at 1,734,766 transactions, which is pretty spectacular. There is a big difference between Bitcoin and Bitcoin Cash, especially when it comes to network blocks and overall network throughput. To date, Bitcoin Cash is the clear leader of the two, although BTC is still ahead by over 10x when it comes to the daily trading volume.

#3 STEEM

steem logo

STEEM, the native infrastructure of the Steemit project, is capable of handling a high load of network transactions without too many problems. In the case of this project, the current maximum network throughput sits at 2,522,380 – a pretty impressive figure. While it is very different from traditional cryptocurrencies, the project appears to be gaining even more traction as time progresses.

#2 BitShares

bitshares logo

Whereas most cryptocurrency enthusiasts tend to overlook BitShares, the project is focused primarily on scaling and bringing this technology to the masses. With a maximum transaction throughput of 6,112,075 transfers, Bitshares is well ahead of Bitcoin and most other cryptocurrencies in the world today. As such, it shouldn’t be ignored whatsoever.

#1 EOS

eos logo transparent

When it comes to network scaling, EOS is well ahead of the pack, as its current maximum throughput sits at 10,111,725 transfers. It is also the first major cryptocurrency to break the ten million transactions mark for a 24-hour period. It will be interesting to see if any other major cryptocurrency can come close to these figures in the coming months and years.

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Crypto Trade Volume Doubles Overnight, Have The Bears Run Out Of Steam?

After a seemingly endless cycle of non-action, the crypto market finally saw a spark of life on Monday, as fears of a Tether ‘bank run’ hit newfound highs, while confusion strong-handed investors into making moves. In the span of just a few hours, exchanges recorded billions of dollars volume, quickly pushing this market off its year-to-date lows from a volume standpoint. Crypto Trading Volumes Surge To 1 Month High As reported by NewsBTC previously, crypto investors were in for a treat in the wee hours of Monday morning, as digital assets saw an unexpected influx (and a large one at that) of buying pressure, pushing Bitcoin above $7,000 for the first time in months. Following some quick internet sleuthing, many traders determined that Bitcoin’s strong surge to the upside could be boiled down to a single factor. This factor, of course, as widely reported, was the fears of Bitfinex’s insolvency spreading like wildfire through this market, resulting in a capital flight of cryptocurrencies from Bitfinex to other leading crypto exchanges. At one point, the now-infamous ‘Bitfinex premium’ somehow surpassed $1,000, as Bitcoin surged above $7,600 due to thin order books on the aforementioned exchange. On the other hand, on well-regulated platforms like Gemini and Coinbase, which offer insurance for their client’s crypto holdings, Bitcoin only traded at a relatively measly $6,600, which was the “true” price of the digital asset. Bitfinex Premium $1000+ pic.twitter.com/bf9vWCSRCg — Bitfinex'ed (@Bitfinexed) October 15, 2018 Volumes on Bitfinex quickly surged, as users rushed to liquidate their U.S. credit for crypto assets to subsequently withdraw their holdings to a wallet of someone or some organization they could trust. Due to the well-read belief that Tether goes hand-in-hand with Bitfinex, traders also rushed to sell their USDT holdings, as many claimed that the Tether Foundation didn’t have the reserves to back all issued stablecoins. At one point, Tether tokens fell under $0.91 on Kraken, alluding to the fact that a copious amount of USDT had just been dumped by a multitude of wary traders. The rise of Bitfinex’s insolvency rumors, coupled with growing fears about the legitimacy of Tether, happened to manufacture a perfect storm, so to speak, resulting in a period of market uncertainty, confusion, and even panic in some fringe cases. And although the collective value of all crypto assets saw a $20 billion bump, many investors claimed that this obviously wasn’t the breakout that bulls have been clamoring for. Still, what went under the radar of many investors is that volumes saw an unprecedented surge in correlation with thousands of traders choosing to sell their USDT and withdraw their funds from Bitfinex, which was a sign some analysts have been waiting for. Preceding this move, which saw nearly every single crypto asset move well into the green, NewsBTC’s very own Joseph Young, claimed that while nearly every important indicator is calling for growth, volume was still mysteriously absent. Bitcoin and crypto market waiting for 1 thing 1. Final shakeout 2. Positive developments (Bakkt, Custody, Banks) 3. Months of stability Bitcoin at $6,200 ~ $6,800 range since August 9 4. Lower highs since January bottoming out with record low volatility 5. Volume — Joseph Young (@iamjosephyoung) October 15, 2018 But now, with Bitcoin volumes doubling from $3 billion to a monthly high at $7 billion, per data compiled by CoinMarketCap, Joseph added that the prospects of this market are starting to look “great,” likely indicating that he saw this surge of volume as something to keep watching. The volume of Bitcoin has more than doubled in the last 24 hours. $2 billion to $5.64 billion on CoinCap$3 billion to $7 billion on Coinmarketcap Real price of BTC is around $6,400 (fiat exchanges). $6,150 to $6,400 with solid increase in volume is great. — Joseph Young (@iamjosephyoung) October 15, 2018 It wasn’t only Bitcoin that saw its volume return, as cryptocurrencies across the board all saw their time in the sunlight in the past 24 hours. To attest to this fact, per data compiled by CoinMarketCap, the total volume seen by crypto rose from $9 billion on Sunday to $22 billion, where this figure has held for the past few hours. Chart Courtesy of CoinMarketCap Assuming that volume has returned and that it’s here to stay, technicians will continue to eye Bitcoin’s $6,800 price level, which has long been a level of heavy resistance for the leading crypto asset. Fundstrat’s Robert Sluymer, for one, recently claimed that while now isn’t the time to increase your exposure to Bitcoin, a convincing move above “September’s real and relative highs,” which are both situated around the $6,800 level, may indicate that this market is finally undergoing a trend reversal. Keeping in mind that the arrival of substantial amounts of trading volume is often the gun that sets off the race, so to speak, many are starting to believe that a bull run could be in this market’s grasp. Featured Image from Shutterstock The post Crypto Trade Volume Doubles Overnight, Have The Bears Run Out Of Steam? appeared first on NewsBTC.

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