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How Ripple passed on being the Ethereum of Crypto

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Ripple
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Ripple and Ethereum have been at it for quite some time to the extent of exchanging positions occasionally during volatile market movements. Since they are both altcoins, the question of whether they will ever amass enough momentum to beat Bitcoin has not been a major topic in the crypto space. Everyone simply assumes that Bitcoin (being the pioneer cryptocurrency) will maintain its position at the top. After all, Ethereum and Ripple’s market capitalization are only a fraction of Bitcoin’s market cap. But could these two altcoins manage to compete against each other for the top spot in future? Well, let’s find out.

How Ripple and Ethereum compare

In comparison to Bitcoin, Ethereum comes much closer than Ripple, and with good reason. While Ripple is believed to be the technology that enables fast cross-border transactions, Ethereum is believed to be the future operating system for all things Blockchain.

In fact, Ripple’s centralized approach and close ties with traditional financial institutions have rendered it the black sheep of the crypto family. Essentially, there has been lots of criticism from cryptocurrency and Blockchain purist saying that XRP is nothing more than a centralized platform that goes against the ethos of the crypto revolution.

Even though this has stagnated Ripple’s growth among cryptocurrency enthusiasts, it has propelled growth for Ripple in terms of partnerships with banks and other traditional financial institutions.  While in the search for innovation and efficiency the banking industry has embraced Ripple as a more cost-effective application of Blockchain technology that maintains a centralized approach.

If Ethereum and Ripple were to battle it out for the top spot, the fact that Ripple has a better chance with traditional financial authorities could be a critical factor that would determine the outcome. Considering the over-regulation of cryptocurrencies that is currently going on, Ripple stands a better chance of being the favorite cryptocurrencies for leading financial institutions.

How Ethereum would go against Ripple

However, Ethereum would not go without a fight. Ethereum boasts of smart contracts that present a technical advantage over Ripple. Various experts on both sides of the spectrum already acknowledged the revolutionary capacity of smart contracts as a reconciliation technology with numerous potentials.  Smart contracts have triggered a buzz as they are capable of enabling businesses to create their own smart contracts with minimal legal and technical operations so as to transact with other entities at the highest level of efficiency.

In fact, one of the early pioneers of smart contracts was a former CTO at Ripple called Stefan Thomas. He was part of the team that worked on developing the first smart contract on Ripple’s Blockchain after a round of discussions with Vitalik Buterin (Ethereum’s founder). While the ripple team underestimated the capacity of smart contracts at the time, Ethereum’s founder took up Ripple’s key value data and built it into Ethereum. Perhaps if the Ripple team took up the daunting task of building Smart contracts on XRP’s Blockchain, Ethereum would be the third largest cryptocurrency while XRP would be a runner-up to Bitcoin.

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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