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Fastest among all cryptos: Nano [NANO] adds $20 million to its market cap
Nano's rise today has become the talk of the crypto community. The price of Nano [NANO] has spiked up 13%, adding over $20 million to its market cap. The cryptocurrency's performance in the market has been praised by many. It emerged as the winner of the cryptocurrency race in August, outperforming the top 30 cryptocurrencies by market cap. The coin's bullish swing on Wednesday is attributed to its transaction speed. It has topped all cryptocurrencies, emerging as the fastest cryptocurrency in terms of transaction speed. Bitcoin Kit, a website which provides cryptocurrency tools and services, has published a transaction speed test which ranks cryptocurrencies according to their transaction speed. The digital asset is featured on the top of the list, with an impressive three second deposit time. Notably, Nano has surpassed all major cryptocurrencies including Ripple's XRP and Stellar Lumens [XLM], which specialize in speedy transactions. While NANO takes only three seconds to complete a deposit, XRP and XLM take five and ten seconds, respectively. Other major coins such as Litecoin and Ethereum appear further below the list, taking 15 seconds to complete a transaction.Following the news, Nano started scaling higher, breaking out from key resistance levels. The coin, which was trading around $1.95 at the beginning of the day, is now trading above $2 - a key resistance level. The hourly RSI indicator suggests that the coin is currently overbought. Unlike other cryptocurrencies, Nano uses a Directed Acyclic Graph (DAG) block-lattice architecture, which enables each user to have his/her own blockchain interlinked to other blockchains. The coin's blockchain records account balances instead of tracking account transactions, thereby reducing the amount of data to be stored. This increases the scalability of the blockchain, thus speeding up transactions.The most recent exchange deposit speed test by @bitcoinkit1 has been released and $Nano is still number one, but you already knew that right?https://t.co/dd7LMkko84
— Nano (@nano) October 16, 2018
