Daily transactions on the XRP network continues to surpass figures observed in BTC and ETH as total transactions crosses the 2.6 billion mark.
In a recent interview at the Apex Dev Summit in Amsterdam,Vice President of RippleX Growth –Marcus Infranger discussed the state of the XRP Ledger (XRPL). He indicated notable metrics that could further enhance the ecosystem’s developments and mark new limits.
He highlighted points regarding the interoperability and scalability limits of the XRP Ledger, stating that the network remains one of the most scalable and efficient chains. He furthered his boast by stating that “transactions happen within 3 to 5 seconds consistently for over a decade,”.
Continuing on, Infranger emphasized the paramount significance of enhancing the XRP Ledger’s performance for RippleX developers. He went on to mention that RippleX and the dedicated community of developers remain committed to the ongoing refinement of the infrastructure.
SpendTheBits, a payment platform on the XRP Ledger also called attention to this impressive speed noting how fast transactions occur in comparison to BTC. “Moving BTC takes ten minutes to one hour on the Bitcoin network but three to five seconds on the XRP Ledger” the team added.
Also read: Pro-XRP Lawyer Gives Surprising Revelation about Ethereum, Talks about XRP Ledger
XRP Maintains 1M+ Daily Transactions
Interestingly, on-chain data provider Bitinfocharts corroborates the claims made by Marcus Infranger noting the consistency of XRP 1M registered daily transactions since 2020.
“It’s evident that there were several notable spikes in transaction volume from January through March this year, culminating in an annual peak of over 2.35 million transactions on March 19”.
Even with the significant price correction experienced in August, XRP transaction count consistently remains above the 1million mark.
In stark contrast, the daily transaction counts on the Bitcoin and Ethereum networks have remained comparatively lower. While Ethereum competes closely with XRP in this aspect, Bitcoin lags far behind.
Ultimately, Ripple’s quarterly report for January highlighted a significant uptick in XRPL activity. Specifically, during Q4 2022, the XRPL handled an impressive 106 million transactions, averaging over 1.13 million transactions daily. This marks a notable increase from the 114 million transactions recorded in Q2 2022.
