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Reasons Why XRP Holders Can Expect a Very Lucrative 2018

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Ripple

Ripple has been one of the most popular cryptocurrencies among the traders around the world since its introduction to the market back in 2012. From the beginning of this year, a significant number of cryptocurrencies, predominantly Bitcoin and the currencies that depend on it have been going through a really tough time. The turmoil started when the price of Bitcoin plummeted in January 2018 to a historically low figure. Despite subsequent recoveries, the capricious nature of Bitcoin’s price has created doubt in the minds of several experienced and novice traders.

Ripple, on the other hand, has maintained its equanimity as one of the most stable cryptocurrencies in the market. Also, the development team behind XRP is making new upgrades and orchestrating new partnerships continuously in order to provide a more scalable and convenient blockchain transaction protocol to the XRP holders. Despite being one of the fastest and the least expensive transaction systems in the world, this currency is implementing new technologies to provide cross-border transaction service at an unprecedented speed. Besides this, there have been quite a few developments regarding this currency. Here, some of them are discussed to provide an insight why XRP holders can expect an immensely profitable 2018.

The Implementation of xRapid Technology:

In April 2018, the Ripple team first announced the launching of xRapid technology that would allow multifarious companies around the world to minimize their liquidity costs. xRapid uses the XRP token quite uniquely for offering on-demand liquidity to various business organizations. This dramatically lowers the liquidity cost along with enabling real-time payment. xRapid is indubitably one of the most reliable, scalable, and efficient liquidity options capable of offering cross-border payments.

  • Development: This ingenious technology was first introduced on April 28th of this year by MercuryFX, one of the most reputed companies that have recently begun its association with Ripple. After developing xRapid, this company has conducted an extensive quality testing on this technology to judge its functionality and efficiency. They deemed the first trial of xRapid as satisfactory and appropriate to be implemented on the blockchain ecosystem of Ripple. MercuryFX is working extensively on increasing the number of pilots for xRapid and moving the existing one into production.
  • First Pilot Results: On 10th May of this year, Ripple released their first pilot results of this technology. According to the results, the sole purpose of xRapid would be to nullify the payment delays across the globe along with decreasing the transaction cost significantly. It would leverage the digital asset behind XRP making an instantaneous cross-border payment system possible. The pilot results also consist of a few statistical data that can surprise a significant number of investors. According to these data, xRapid is capable of saving 40-70% more than the average foreign exchange brokers. It will also bring down the time taken for cross-border transaction form 2-3 days to mere 2 minutes.
  • The Payment Journey With xRapid: xRapid is likely to offer a very efficient payment system to the XRP holders. With the help of this technology, a financial institution would be able to connect directly to the digital asset exchanges in both destination and originating corridors. The originating currency would be exchanged with XRP providing the liquidity necessary to make the final payment. After that, the XRP would be exchanged with the destination currency during the second digital asset exchange. Once the transaction occurs, the funds would be readily sent to the local rails of the destination country. The entire transaction would be monitored thoroughly to preclude any transgression of security. In this way, the Ripple holders would be able to take advantage of one of the fastest cross-border transaction facilities.
  • Possible Applications: Once this technology is launched properly, Ripple would be able to involve itself in a vast number of MSBs (Money Service Businesses) around the world to serve more people.

Other Notable Ripple Updates:

Besides releasing the pilot results for xRapid and implementing other technologies like xCurrent or xVia, Ripple has already undergone or about to undergo many other significant updates. Some of them are:

  • Ripple is about to adopt a new business paradigm named Coil. Coil would enable web owners to pay their top contributors without facing any major difficulty.
  • The reputed Indian exchange Zebpay has enabled crypto to crypto trading a few days ago. They are about to launch an XRP/TRX trading pair as the first cryptocurrencies for this type of trading.
  • Ripple has just successfully concluded their VIP Blockchain Week which has been able to grab the attention of a considerable number of new cryptocurrency traders.

Current Condition of Ripple:

Ripple currently holds the third position on Coinmarketcap with a price equivalent to $0.68 and a market capitalization of nearly 27 billion USD (as of 16th May 2018). Right after the announcement of xRapid, Ripple’s share in the market nearly doubled causing a significant surge in its price. If the technology is proved to be as effective as it was promised, this trend is likely to follow a steeper upward trend.

Final Thoughts:

From the very beginning, Ripple has been one of the most stable, reliable, and the fastest blockchain systems existing in the market. With these new implementations, these qualities are likely to get even better with more efficient service to the holders. Therefore, it is safe to say that if XRP continues to provide such ingenious facilities, the Ripple holder can expect a very lucrative 2018.

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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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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