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How Ripple (XRP) Outdid the Transaction Speed of VISA

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XRP registers progress on a daily basis at such speeds, that it is not always possible to cover major news all the time. But the news of a number of ripple transactions crossing that of VISA at twice the rate has managed to gain major momentum. Recent updates report that XRP can now deal with a processing of 50,000 transactions per second in relation to VISA’s 24,000 transactions per second. The VISA website portal publicly publishes the information on the number of VISA transactions per second. As last updated on July 2017, the website portal of Ripple publicly posts the information of XRP’s 50,000 transactions per second. However, the potential of further elevating the transactional speed of the altcoin has been assured by the upgradations in the system health decentralization and the latest XP prospective COBALT updates.

The upswing in the speed of transaction improves the chance for Ripple to get adopted by a large number of financial institutions as already several banks have confirmed the testing and integration of XRP technologies in their systems.

When it comes to alt-coins, two valuation systems have come to the fore. One system accredited the artifact-value of an altcoin, which is associated with the restricted number and the resultant popularity of a cryptocurrency. The other emerging analysis is that the value of alt-coin entails the use-case of cryptocurrency. With regard to this use-case valuation, XRP has emerged as the leading cryptocurrency on account of the fact that that the XRP technology has been adopted by the widespread financial sector.

One of the most successful cases of adoption of Ripple by the financial sector is the case of the Cuallix financial system which is an international company that implements XRP technology to fill the gap between payments and inter-border fiat transactions. This use-case valuation is strengthened by the Ripple’s collaboration with SBI Holdings, a premier financial company in Japan. SBI securities, the subsidiary of SBI HOLDINGS, has turned out to be the largest online securities firm as it boasts of more than 4 million brokerage accounts base SBI virtual currencies, expected to launch soon, plans to use XRP as the only virtual asset.

How restriction is beneficial for artifact value of Ripple

The statistics available on coinmarketcap.com reports that the amount of XRP available for circulation is almost near 40 billion dollars. Official information from the Ripple Company states that there is 55 billion of the XRP alt-coin that have been put into escrow and the company is equipped to sell a billion such XRP alt-coin per month. Ripple is appearing to be HODL its available stock of XRP alt-coins, and putting the remnant amount back into backdated escrow. This implies that the amount of XRP not being sold each month is then slated to be sold in the future timelines, probably after decades. There are currently about 6 billion XRP which are available for trading in the crypto market plus the few million sold by the that the company on a monthly basis in order to invest in its business ventures.

The utmost importance of speed

Realizing the importance of speed in financial transactions and processing, Ripple has been updating its systems and software consistently. The most current upgrade resulted in VISA getting replaced from its top spot by Ripple for the swiftest transaction speeds. Currently, Ripple’s transaction speeds have crossed that of VISA’s to reach the mark of 50,000 transactions per second. Ripple, which has now emerged as a company dealing in international financial transactions, holds the responsibility of the XRPtoken. With some of the latest technological upgradations in the speeds of transaction that have taken place, Ripple is set to earn the status of the speediest virtual transaction processing company on a global scale. The other crypto networks which register speeds close to that of Ripple are Bitcoin Cash, Bitcoin, Dash Ethereum, and Litecoin.

At the beginning of 2018, MercuryFX, a key international currency exchange company and IDT corporations, which is a telecommunications firm, have both joined the expanding network of Ripple. Both these companies have resorted to the xRapidpackage which enables them to make the retail transfer of funds and other corporate dealings with much more accuracy and speed. Since XRP can make transactions at double the speed of VISA, which is one of the premier global credit card conglomerates, there are more than a hundred banks relying on XRP as a potential artifact to implement cross-border processing. The current undervaluation of XRP is understandable due to the exhaustion of most of the XRP that was available for transactions to the public. In the upcoming years, XRP is slated to become the standard against which the value of alternative currencies will be measured. Thus in terms of user-case valuation, Ripple will become the forefront amongst all cryptocurrencies.

Conclusion

The rising trend of banks adopting the Ripple technology has made the CEO of the company Brad Garlinghouse comment in a recent interview that only after 200 banks adopt Ripple, an official announcement will be made.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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