As the awareness and interest of people are increasing every day in cryptocurrency, there are more new cryptocurrency that are growing in the market. Most of these currencies are overcoming the challenges that are faced by Bitcoins. The major challenge experienced by bitcoin is the average time of 10 min before a transaction receives a network confirmation. There are projects focusing directly on time reduction of transactions. But the question comes how will this impact the use of bitcoin. The availability of bitcoins is already fixed, as it is generated by the mathematical algorithm, it was predicted that these currency are likely to take the rise at the time the bitcoin circulation slows down. But the way these currencies are coming with a fastest transaction time they have already captured a huge market.Ripple one of the Cryptocurrency has the transaction time of 3.5 seconds and also trying to collaborate with the financial institution.In my Opinion, with this type of rapid growth ,circulation of bitcoin is expected to decline and people who have stuck their money in the bitcoin might experience exponential loss in their investment.
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4 Cryptocurrencies With Much Faster Block Times Than Bitcoin
It is interesting to see the amazing speeds that cryptocurrencies can be exchanged. It is possible that the transaction speed that other cryptocurrencies have could increase do due an increase in the number of transactions that are being processed. It seems that all cryptocurrencies have a significant advantage over traditional currency verification methods.