Connect with us

Blogs

How Ripple (XRP) Outdid the Transaction Speed of VISA

Published

on

XRP
READ LATER - DOWNLOAD THIS POST AS PDF

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.

Image courtesy of Thomas Hawk via Flickr

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Elite