How To Avoid Painfully Slow Crypto Transaction Speeds

Why are Crypto Transaction Speeds Important?

What Factors Influence Crypto Transaction Speeds?

  • Network size: How fast a network often depends on how many people use it. If there’s more than the infrastructure allows, transactions slow down. If there are too few validators, same problem. Adding validators doesn’t always solve it because most blockchains are decentralized.
  • Decentralization: The more users partake in decisions and validation, the harder it is to reach consensus. Most networks require consensus over 51%, and the more nodes there are, the longer it may take. Centralized networks like BNB or Solana are faster and cheaper for this reason but not as secure.
  • Infrastructure choice: Different blockchains have different speeds because they need to sacrifice one feature for another. According to the blockchain trilemma, you cannot achieve absolute security, decentralization, or scalability (speed) without sacrificing one of them.
  • Block size: Block size is the number of transactions the network can confirm at once. Big block sizes reduce network fees (similar to a subscription fee sharing group) but take longer. To reduce block size for speed, blockchains can reduce the transaction limit or optimize the code to fit more within the same size.
  • Block time: Block time is the average it takes validators to confirm transaction blocks. Big block size means high block time and slow transactions. Small block size reduces block time, but without enough validators, it may cause congestion.
  • Market activity: Trading increases during price volatility and often exceeds the blockchain capacity. So if you wait until the last moment to send your coins, you might have to overpay and wait over 24 h to confirm your transaction. If you see exchanges suspending withdrawals (supposedly for this reason), it’s a terrible time to send crypto
  • Network priority: Congestion affects small buyers the most because networks prioritize whoever pays the most fees. If you experience delays, there might be thousands of users and smart contracts spending more on fees. Also, you’re not the only one speeding up transactions, so you have to hope to outbid others or it’s useless.

How to Speed Up Blockchain Transactions?

How to Speed up Transactions on Metamask?

What Are the Fastest Blockchains?

  • Private blockchains like HyperLedger
  • Pseudo-decentralized blockchains like BNB Chain, Ripple, or Tronix
  • Layer-2 blockchains like Polygon (at the cost of lower security)
  • High-performance hard forks like PulseChain

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A truly decentralized borrowing protocol that allows you to draw 0% interest-free loans against your Pulse coins. Non-custodial, immutable and no admin keys.

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Liquid Loans

A truly decentralized borrowing protocol that allows you to draw 0% interest-free loans against your Pulse coins. Non-custodial, immutable and no admin keys.