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
TRON Partnership Involves Cloud Computing
It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.
— Justin Sun (@justinsuntron) October 12, 2018
Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.
Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.
However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.
Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?
Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.
It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.
The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.
China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.
Furthermore, the country has adopted several…
Ravencoin (RVN) Surges Following Binance Listing
While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.
Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.
Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.
Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.
Ravencoin got listed on Binance prior to MainNet launch
Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.
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