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PrivateInternetAccess VPN starts accepting Ripple (XRP) payments again

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XRP

The VPN service known as PIA (PrivanteInternetAccess) started accepting XRP as means of payment since February 21, 2013. Then, last year, it dropped it for a while, and it’s now taking it again. Why does this matter? Because the security service’s view on XRP turned out to be absolutely visionary, and because it’s providing yet another use case for XRP.

The VPN was the first online internet service to accept Ripple’s XRP. This was when Bitcoin was worth $30 per token if you can still remember such days. When privateinternetaccess started accepting XRP, it had powerful words to say on the subject. It noted that XRP was the very first crypto “that truly has the guts to compete with Bitcoin.” Bear in mind that Ripple was a very new project back then.

Also, bear in mind that it’s come to happen. Right now Ripple is the world’s second cryptocurrency by market capitalization. It took over Ethereum’s spot last week so, the VPN’s announcement has become a prophecy: Ripple is, indeed, the one coin that can give Bitcoin a run for its money as things stand, and it keeps growing.

According to the original announcement, Ripple was the first truly innovative blockchain project that could improve decentralized cryptos since Satoshi Nakamoto (the enigmatic cyber-super-hero who invented Bitcoin, and whose true identity remains unknown) brought Bitcoin live.

That announcement went on to explain why Ripple had some serious advantages over Bitcoin, namely, there is no mining in XRP (Ripple pre-mined all tokens before they went online) and there is no ‘hard’ limit for transactions per second. Both things have profound consequences regarding performance and security.

The lack of a hard limit on transactions allows XRP transactions to be completely settled in seconds, instead of hours (yes, even back then Bitcoin wasn’t that fast). And the lack of mining means that a 51% attack is just impossible.

To be fair, Bitcoin has never suffered from a successful 51% ever. But other currencies (such as Verge) have been hacked several times already. And since it takes no energy at all to mine XRP (as opposed to Bitcoin which is taking just as much energy as Ireland), it’s a very green coin.

The disadvantage, the announcement continued to say, is that Ripple owns most XRP tokens, which are all in existence already while Bitcoins come about into the world through a collaborative process based on a mining open to everybody who wants to join.

The other disadvantage was that Ripple seemed like a very experimental project still, while Bitcoin seemed to be all settled. This is probably where the announcement went slightly wrong as Ripple’s technology has not changed at all while Bitcoin has had to adopt several updates (like the lightning network) to keep the project viable.

Among the most interesting ideas we found on that “old” announcement, was that Bitcoin and Ripple are made for each other. They’re complementary projects that make, between them, the crypto verse powerful and reliable.

The thing to keep in mind is this: all the great expectations that the VPN service had in mind when it adopted XRP (and it was among the very first ones to do so) are actually happening today. So we can only salute the visionary leaders who realized the potential in Ripple’s projects and decided to adopt them so early.

It will be years before Ripple can truly claim to be an invulnerable payment processing network,” they said five years ago. Now, many of the world’s most important banks think it already is.

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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.

Image courtesy of Geralt/PixaBay

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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