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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.

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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

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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