Nano, a blockchain-based company that ascribes an individual blockchain to every user, has now been listed as having the fastest deposit speed on Binance by AnythingCrypto. Interestingly, the second spot is held by Stellar Lumens (XLM), with Ripple and SkyCoin both at the third spot.

According to AnythingCrypto, Nano’s deposit time is 3 seconds. Its block time is also 3 seconds with just one confirmation, which is the fastest way to deposit funds onto Binance. This could be useful for those interested in arbitrage trading. The first five coins in the list take less than one minute to deposit.

Placed in the second position, Stellar Lumens has a deposit time of 5 seconds and a block time of 5 seconds with one confirmation.

At the third position is Ripple, with 10 seconds of block time, 10 seconds of deposit time and one confirmation. It shares the position with the lesser-known Skycoin, which has the same results. Skycoin is ranked 138th in the world by CoinMarketCap, with a market capitalization of over $52 million.

The currency was launched in 2015 and was previously called Railblocks. Its design offers infinite scalability, zero fees, and instant transactions. Colin LeMahieu is behind the design of this low-latency cryptocurrency. Its payment platform uses minimal resources for peer-to-peer transactions, which leads to faster transaction rates.

Nano offers individual blockchain for each account, which means each user has some computation power ascribed to his account, which doesn’t need overall ledger updates with huge block creation. Because of the lightweight protocol, the transaction fees remain zero. Node costs are absent, and quick transmission can be expected. Also, the wallets come with precaching and antispam Proof of Work.

The cryptocurrency’s primary use cases involve its ability to transact as a trading pair, its instantaneous peer-to-peer transactions, and micropayments for content subscriptions and digital asset rights.

Nano Has the Quickest Deposit Speed on Binance was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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