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What is the ‘driving force’ of Ripple (XRP) community?

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The stronghold of major cryptos in the market today is the community that supports it and not the developers. A cryptocurrency community determines how far a crypto will go. The community is usually established by firmly devoted people, perhaps because their money and investments are on it.

Ripple community is such a community that is zealous and ardent in which they hope to see the cryptocurrency achieve great strides. On the other hand, Ripple XRP is a cryptocurrency that is growing, and it is a transactional protocol designed on a distributed ledger network, which needs its users to take part in authorizing transactions than any particular centralized authority.

Ripple’s primary currency is XRP, and this cryptocurrency is a service that aims to give solutions to real-life problems such as blockchain solutions. Even though Ripple is a centralized platform that gives answers to issues such as daily transactions and other real-life actions, the driving force of Ripple community is the XRP, and not xCurrent, xRapid, or xVia.

The list of benefits of Ripple is massive, and lately, the platform expressed its passion for changing foreign payments experience for Small and Medium-scale Enterprises (SMEs). During the Money 20/20 meeting in Europe, Colin O’Flaherty, Global Commercial Services’ General Manager in the UK and VP of American Express in Russia stated:

“Ripple offers instantaneous, point-to-point conversations between the sender and receiver of funds and that provides a real opportunity to alleviate most of the issues our customers are facing.”

Subsequently, Ripple’s technology has been adopted by Amazon’s marketplace and Apple store. Even with all the services it renders, it is eminent that what makes Ripple community progressing and ticking is due to the idea that SMEs are adopting XRP and solving real-life problems that people are facing when it comes to daily transactions. Besides that, the community hopes that XRP will become a global payment solution in the future. XRP is really valuable, and this is what drives Ripple community today.

The Prospects of XRP

Right now, most cryptocurrencies are in the red, and XRP is not an exception either. However, with that in mind, Ripple community does not only see the current trends in the crypto-sphere today.

It is important to note that most XRP holders anticipate essential XRP projects that are in-line for the next few months. Let the future be future for now, the acceptance of the protocol as the primary token for cross-border payments by Western Union, Money Gram, and Santander launch of mobile XRP is sure to make the cryptocurrency boom in the near future.

Other projects like the implementation of cobalt protocol (an algorithm that enhances transaction speed), a partnership with Hyperledger (which will help to accelerate the development of blockchain application), and with Santander bank will help Ripple to edge out other cryptocurrencies in the market.

With all these projects at hand, Ripple community is inevitable that there will be an improvement in the current situation of the cryptocurrency which may lead to XRP being listed on major exchanges soon. But nothing is certain in cryptosphere, so we’ll have to wait and see. And yes, until the SEC doesn’t give clearance to Ripple, the company’s praise will stay affected as a whole.

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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.

Image courtesy of Pixabay.com

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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