2019 has only just started, and already, crypto investors around the world are optimistic about the future of many cryptocurrencies this year. While a lot of crypto issues are expected to be resolved, and many coins are likely going to have an eventful year, the community is very much interested in what to expect from the coins at the top, especially XRP.
XRP, for example, has been the second largest coin by market cap for almost two months, until it lost the position to Ethereum on January 2nd. However, while ETH may have made a comeback after dropping in November’s market crash, this doesn’t make XRP a bad coin.
XRP’s 2018 performance and issues
It is no secret that XRP had a lot of issues to deal with in 2018. The coin was accused of being security numerous times, not to mention several lawsuits against its parent company. XRP was also accused of being centralized, which Ripple Labs worked hard to prove wrong.
However, at one point, the situation turned. XRP became quite reputable, and while there are still those who are skeptical of its nature or future, it is currently doing rather well, considering last year’s events.
As many are aware of, XRP is the coin meant to be used with Ripple Labs’ payment products, such as it’s biggest current hit — xRapid. The company is dedicated to providing quick and cheap payment solutions that can make international payments nearly instant. Considering the dire need for upgrading current payment systems, which often take days to complete a single transaction, many banks around the world were quick to open up towards the possibility of integrating these products into their everyday businesses.
As a result, over 120 banks and financial institutions from all corners of the world have partnered up with Ripple, and this is one of the things why XRP is guaranteed to have a bright future. Without XRP, Ripple’s payment products do not work, meaning that the coin has already found one way of going mainstream, and many expect it to be the first cryptocurrency to do so.
Thanks to these possibilities, as well as Ripple Labs’ pretty good reputation, XRP has managed to make significant progress even while losing value in 2018’s bearish market. It also manages to keep competition under control, as no other coin attracts banks as much as XRP.
XRP in 2019
So, what does all of this mean for XRP’s future? Well, the first thing that should be noted is that Ripple’s and XRP’s actions in 2018 managed to set an excellent foundation for the coin’s future development. There is always room for improvement in the crypto world, and Ripple is expected to partner up with more banks, remove the potential issue, and maybe even launch new products this year.
It is currently among the fastest coins on the market, being able to complete transactions in only 4 seconds. In comparison, ETH takes over 2 minutes to do the same, while Bitcoin can take more than an hour. And, as mentioned, traditional payment systems rarely complete the process under 3-5 days. XRP’s biggest current competitor is Stellar, which can do it in 3 seconds. Also, the coin can handle around 1,500 TPS, and it can be used for making transactions at any time of day and night.
Meanwhile, Ripple’s CEO, Brad Garlinghouse, remains optimistic of the coin in 2019. While nothing can be claimed with certainty when it comes to crypto, many believe that this might be a true year of crypto. The hype of 2017 is now in the past, and many are hoping that the same can be said for last year’s price correction. In other words, crypto is now supposedly free to advance at a steady pace and expand truly great projects into the coins that will dominate the future of payments.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level
Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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