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How Ripple (XRP) Outdid the Transaction Speed of VISA

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XRP
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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.

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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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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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