Comparing Settlement Times and Transaction Speeds of Stablecoins

Essentially, cryptocurrencies were designed to act as digital currencies and were intended to replace transactions traditionally made with fiat money. However, ensuring faster transaction speeds and faster settlement times through blockchain technology has proven to be challenging for many cryptocurrencies. Various stablecoins in the current market differ by a significant margin in their transaction speeds and settlement times. Noticeable differences also exist in the operating costs of each of these stablecoins.

Before looking at the different settlement times and transaction speeds of other stablecoins and comparing them to Samecoin’s SameUSD (SUSD), let us analyze what settlement times and transaction speeds mean in the stablecoin market.

What is settlement time in crypto?

This is one major risk that companies that accepted Visa and Mastercard payments faced.

With blockchain, after a transaction has been verified, it becomes impossible to alter it, reducing the possibility of a chargeback.

What is transaction speed in crypto?

Below, we will look at how stablecoins like SameUSD perform with regard to transaction speed and settlement times.

How various stablecoins perform

Tether (USDT) is the largest stablecoin by market capitalization, followed closely by other USD-backed stablecoins such as USDC, Paxos Standard (PAX), and Binance USD (BUSD). Yet, all these stablecoins have serious weaknesses concerning their reserve assets, transaction speeds as well as overall stability.

Although most of these stablecoins have consistently recorded faster transaction speeds and shorter settlement times than regular cryptocurrencies, could there be stablecoins with even faster transaction speeds than the existing options?

How SameUSD performs

The entire Samecoin ecosystem is designed to facilitate more convenient online payments. For this reason, SameUSD and other stablecoins from Samecoin record incredibly fast transaction speed unmatched anywhere else in the current market. Ultimately, these stablecoins remain a much stable value compared to other similar coins, owing to their unique stability mechanism. Unlike other stablecoin, SameUSD is backed by a basket of other major stablecoins.