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Is Ripple (XRP) Welcoming Allvor to the XRP Ledger?

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Ripple (XRP), the third-best currency in the world according to the global coin report, has been offered integration from Allvor Project. Allvor decided to go for Ripple as their choice of powering-up their currency given the fact that XRP Ledger is said to be the best performing and the most functional database technology to be made by far.

Allvor is generally focused on e-commerce so it is no wonder that the Allvor team concluded that XRP Ledger would make a top choice as Ripple is focused on delivering fastest transactions via its blockchain network. As the team behind Allvor project is promoting this currency as the first XRP-powered currency available on the market, we are extremely interested in finding out more about Allvor and Ripple’s partake in this matter.

Ripple and Allvor                         

It seems that Allvor is offering integration to the team behind Ripple, considering that this kind of integrating is necessary in the world of digital assets if the parties involved want to see further progress being made in the field of blockchain-based technology and operations.

Regarding the matter of having Allvor integrated to the XRP Ledger and powered up by Ripple’s technology, the representatives from Allvor team stated that Ripple had no initiatives in this matter as well as that the mentioned integration wasn’t brought up by Ripple. The team behind Allvor Project further stated that the project they are planning on presenting is in any way sponsored or initiated by Ripple or anyone from the Ripple’s dev team or the team of representatives.

Allvor is already branding their currency as the first currency ever to be powered up by XRP Ledger, which is in their opinion (but not only including their personal opinion) the best-distributed database ever to exist on the market.

Since Allvor will be mainly focused on e-commerce and everything related to this branch of trading, getting accepted on XRP Ledger would probably sky-rocket their current and help them achieve any possible goals they have listed in their roadmap.

Given the fact that Ripple makes up for maybe the fastest platforms when it comes to processing transactions, getting powered up by XRP Ledger would definitely aid Allvor in any ventures it might have installed.

For now, the team has stated that their optimal and primary goal would be to encourage the integration of different blockchain-based platforms, so that many different decentralized ecosystems would be interconnected with the ability to exchange data, trade assets and values, and much more.

Their initial objective within this goal is to make ALV usable and widely used for these integrated networks that they are planning on bringing together. The first step towards this case scenario would be getting accepted on XRP Ledger.

Moreover, the Allvor team added that they will also use ALV to encourage designing tools that would serve the purpose of enabling communication between the interconnected networks. They added further that this case scenario would be possible through Ripple’s XRP Ledger as this ledger possesses all the technology needed to make intercommunication more than potentially possible.

Allvor, Ripple and the Internet of Value

To make a long story short while staying updated on what the Internet of Value stands for, we can simply say that the Internet of Value represents a digital ecosystem that enables users to exchange and trade values as fast and as simple (and as cheap!) they would send an email.

The Internet of Values is another one of Ripple’s projects that Allvor believes it would make a great choice for its e-commerce ventures as well. So, that means that the Allvor team is planning on taking advantage of the IoV technology as well, so they could enable their users to exchange goods and trade with value in real-time just like it is possible to make safe, fast and cheap transactions through XRP Ledger.

Further on the matter of having ALV hosted on XRP Ledger, the Allvor Project team stated that they are not planning on having an Initial Coin Offering. This is an odd case because the majority of coins and tokens being launched and created always organize a crowdfunding sale so they would be able to launch their currency as an ICO and put a price on it.

In oppose to the traditional need for ICO whenever a coin or a token is launched, the team behind Allvor stated that they will not be collecting funds for launching their ICO. Instead, they are going to have ALV tokens being directly distributed to Ripple users and holders. This can be easily achieved by using the Initial Distribution feature.

The team behind Allvor has already taken the first step towards their objective regarding blockchain-based integration, so their tokens, ALV, have been distributed to XRP holders on March 27th of 2018, which was approximately a week ago from the time of this writing.

Whoever owned XRP at this moment and on this date, they were entitled to getting ALV tokens distributed through XRP Ledger.

Ripple Users Getting ALV Tokens

On March 27th, all users that were eligible to apply for the program of getting first ALV tokens distributed through XRP Ledger. In this case, ALV tokens were being handed out in accordance with the amount of XRP the applicants had.

However, the number of available ALV tokens is one million ALV, which means that the program would only be able to distribute this amount of tokens at the current moment, not a token more, which means that the amount is strictly limited.

How is Ripple doing at the Current Moment?

Although the curiosity kicked in with giving birth to a need of finding out more information about ALV tokens and the Allvor project, we are interested in finding out how Ripple is doing at the current moment.

After the latest change in the market, XRP has fallen down by -2.54% against the dollar. That means that XRP is now trading in the red while it also fell down against BTC by -1.60% during the 24 hour period.

At this moment, you can purchase one unit of the third-best currency for 0.49$.

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 Andre Mercier via Flickr

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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gambling dApps
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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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