The World Economic Forum (WEF) is outlining the speeds at which several crypto assets, including Cardano, XRP, Solana, Celo, Alogrand and Stellar Lumens, can process transactions.
In its recently published community paper, the Swiss-based international organization for public-private cooperation looks at smart contract platform Cardano (ADA) and provides details on the number of transactions it can process per second.
“Cardano is an open-source PoS (proof-of-stake) blockchain network and smart contract platform that aims to provide multiple features through layered design and modularity. It allows for 257 transactions per second.”
Next on the WEF’s list is XRP and its global open-source blockchain, the XRP Ledger (XRPL).
“XRP boasts 1,500 transactions per second, costs $0.0003 per transaction and settles in three seconds.”
The WEF is also outlining the throughput and infrastructure of Ethereum competitor Solana (SOL), describing it as a proof-of-stake blockchain network designed for mainstream adoption.
“[Solana] enables fast transaction times with the ability to scale as usage of the protocol grows without relying on Layer-2 systems or sharding.”
Another crypto asset on the WEF’s radar is Celo. According to the WEF, Celo is designed to enable smartphone users to send, receive and store money.
“Celo has a ledger close time of approximately five seconds, with 1,000 transactions per second.”
The Swiss-based international organization is also describing the speed of Algorand (ALGO). The WEF says ALGO is a network that allows both traditional and decentralized financial firms to build decentralized applications (DApps).
“Algorand allows for 1,000 transactions per second with a ledger close time of approximately five seconds.”
The last coin in the paper’s speed outline section is Stellar Lumens (XLM), which the WEF says is built for cross-border payments.
“Stellar’s ledger limit is currently set at 1,000 operations per ledger. With ledgers closing approximately every five seconds, that’s a limit of 250 transactions per second.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong