I will discussing about Blockchain transaction speed.
Blockchain is a system that is build for processing information and keeping data in such a way that it is difficult for vulnerable to reach it.
It prevent loss of information and keeps information well secured.
I want to believe we all accept that there a different Blockchain out there and they all have different ways of processing information / data and times to takes to process transactions.
Today I will be discussing how fast Blockchain process.
Let's me start with Terra LUNA Blockchain.
Terra Blockchain makes use of Cosmos Tendermint which allows for 10,000 transactions per second with a transaction time of around 2 seconds.
It's make use of Proof of Stake to create block for it's transaction.
Bitcoin Blockchain is one of the Blockchain that has a slow Blockchain transaction speed because it process 7 transaction per second this is because of the time it takes to generate block dues to the proof of work methods for generating block, Bitcoin uses around 10 min to generate a transaction block.
Ethereum Blockchain it also makes use of Proof of work combine with proof of Stake.
Unlike Bitcoin's proof of work Ethereum generate its own transaction block around 15sec. Ethereum has a speed of around 35 transaction per seconds.
Solana Blockchain is the fastest Blockchain which makes use of Proof of History and Proof of Stake as a way of generating blocks to process transactions. The Blockchain process about 50,000 to 60,000 transaction per seconds.
Cardano also know as Ethereum killer, is one of the Proof of Stake Blockchain family. It process transactions at around 300 transaction per second
There are many Blockchains out there with different transaction speed and different Proofs which they use to generate blocks for processing transaction.
Thank you for reading.
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