Cryptos vs. Visa

Cryptos vs. Visa

Virtual Currencies

LSP Digital compared selected coins concerning their energy efficiency and maximum transaction capacity per second, showing the high potential of Nano and Ripple for consumer transaction use cases at scale.

Details

  • Author: Elena Rotter
  • Appeared: 01.03.2018
  • Category: Virtual Currencies

Compared to Bitcoin, Ethereum, Dash, Litecoin, Nano, and Ripple, the long-established payment system of Visa is energy efficient and has the highest transaction capacity. Notably, Visa’s maximum tested capacity for transactions per second is higher than all other cryptocurrencies and even eight-thousand times higher than the one of Bitcoin. Moreover, the comparison of the energy consumption per transaction shows, that one Visa transaction requires 46 thousand times less energy than one transaction with Bitcoin.

Overall, Bitcoin at its current state shows low potential for sustainable high-volume consumer transactions, due to poor scalability and a high power-inefficiency compared to Visa and the other cryptocurrencies.

Ripple and Nano on the other hand can process considerably more transactions per second than Bitcoin and their transactions require considerably less energy. Their underlying technology allows high scalability and could therefore enable them to compete with Visa for consumer transactions.

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