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4 Reasons to Stick With Ripple in 2018

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Ripple

Ever since XRP first went live, this cryptocurrency has only had two big problems. One is the bad application of decentralization, and the other is its parent company’s influence over it.

When it comes to the first issue, it is important to realize that cryptos work through an agreement between their users. The agreement between participants is what keeps the blockchain secure. Users agree on the amount that goes between their wallets. This goes for cryptos like Bitcoin (BTC), as well as for those like XRP.

However, when it comes to decentralization, XRP is largely influenced by Ripple, its parent company. Usually, if the parent company were to go under for whatever reason, its crypto could survive thanks to its users and the agreement between them. When it comes to Ripple (XRP), however, it turns out that Ripple (the company) holds almost 55 billion tokens which are locked into escrow for the next 4 years.

XRP is decentralized, Ripple is not.

Not only does Ripple own a large amount of XRP, but it also has a big influence on its use. Anyone who owns a certain amount in some cryptocurrency can do whatever they want with it. They can open a global money transfer firm, or use the crypto for business payments.

However, when it comes to XRP, Ripple has always been the one who decides its future, and even chooses the industries that this crypto can touch. So far, banks and large money wiring services like Western Union and MoneyGram were the ones that Ripple wanted to work with. This has caused many people to ask Ripple to start more partnerships in the area of digital commerce.

It’s not all so bad

This attitude might not be the worst thing for this crypto, however. Despite the fact that Ripple acts like quite a dictator when it comes to XRP, this relationship is also one of the cryptocurrency’s biggest advantages. After all, Ripple was responsible for the XRP’s use within some of the biggest companies around the world. Without the company’s influence, all of these firms probably wouldn’t even bother with XRP.

Despite being the biggest name in the crypto world, Bitcoin did not manage to do as well for itself as XRP has, at least when it comes to infiltrating large companies. Through Ripple’s connections to large firms and banks, XRP managed to bet the backing of the Central Bank of Saudi Arabia, Japan’s SBI, and even a connection to Walmart. This is one of the best ways of getting stabilized and ensuring that the growth and adoption become certainties.

This position and some excellent marketing decisions have allowed Ripple to take the next step. This began with a $29 million donation on donorschoose.org, which Ripple donated for public education projects. Then, there was a $25 million investment in Blockchain Capital, which is dedicated to speeding up crypto and blockchain startups. Through these decisions, both the company and its cryptocurrency attracted attention, but also helped to influence the world through the use of XRP.

XRP instead of BTC

Bitcoin’s name, status, and influence over the years will make sure that this crypto will keep its top place on the market. Bitcoin itself has almost become a synonym for cryptos in most people’s minds. Even those who have no knowledge about cryptos, the blockchain, or any other aspect of the digital market have heard of Bitcoin, and they know that it is a digital currency.

Ripple (XRP), on the other hand, is not as well known and popular. However, instead of conquering the hearts of the many, Ripple went for specific partnerships on Wall Street and in the financial tech industry. It might not have its name known by nearly anyone with an Internet connection, but it sure did leave an impression where it matters.

Bitcoin has been surrounded by scandals, thefts, scams and alike for years now, which influenced its very nature. Despite its popularity, it is seen as chaotic crypto with no certainties. Large businesses which usually have a lot to lose if their deals end up ruined would never invite the anarchy that follows Bitcoin into their business practices.

Ripple, however, has shown a lot of stability, support from the parent company, and it is considered to be a classy digital currency that can hold its own. It acts and looks like a professional, which increases its chances of being accepted by a new company.

XRP’s superior use

The stock market and the crypto market can be very different at times, but there are several things that can be applied on both of them. They can be unpredictable, and there are only two ways of dealing with them – through sheer luck, or through a carefully thought out strategy. Neither of the two is a safe bet, however.

Because of that, investing in cryptos can be very risky. However, there is a trick to doing this, and the most important thing that an investor needs to evaluate is whether or not the currency in question can fill the needs of the real world. Many of them are promising great things, but only a few manage to find a foothold in the world, and even fewer than that can hope to be adopted in a space that would allow it to make a difference.

When it comes to Ripple (XRP) it definitely has what it takes. It has a potential to replace SWIFT, which the banks used for entire decades, at this point. It’s cheaper, faster, and more modern that SWIFT, which is what makes Ripple a very attractive alternative.

Ripple has already entered many partnerships, and some of them are a real mark of the desire for this crypto to be fully implemented. Banks are becoming more and more open to the adoption of this crypto, and this year has already managed to remove many concerns that they had regarding the currency.

There are no certainties when it comes to cryptos and their future. However, Ripple fills the modern world’s needs, and investing in it is as safe as working with cryptos can get.

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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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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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