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Ripple bags more partnerships creates confusion in XRP price

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Ripple
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Over the past few months, Ripple (the company) has been on a mission to distinguish itself from Ripple XRP (the cryptocurrency). Most people believe that they are both one and the same thing but most people are wrong. It’s easy to confuse the two, right? After all, isn’t ripple the largest owner of XRPs and didn’t they create the Ripple XRP to start with? Well, it can get a little confusing but Ripple wants to make it clear once and for all.

Creating a Symbol for XRP

As a result of the confusion around Ripple and XRP, an initiative is currently ongoing to come up with a symbol for XRP. The aim, obviously, is to keep it clean, simple, and minimalist but utterly different from Ripple.  In fact, a community-driven initiative has been started that will see the submission of logos from the community with voting set to begin next week.

With Ripple holding a larger amount of the XRP than any other entity, it has become a public assumption that the XRP represents security for Ripple the company. There has been also some class action lawsuits directed at Ripple in this regard. However, semantics aside, XRP (as an open source ledger) has proven to be quite useful especially for third-party developers.

In fact, some crypto enthusiasts believe that the XRP can perform much better if it successfully separates its identity from Ripple the Company. The reason is simple. As an age-old tradition, most cryptocurrency traders and investors prefer decentralized platform than centralization ones.  And by the look of it, Ripple XRP is one of the most centralized platforms there is as all the nodes on the XRP’s network are controlled by Ripple the company.

How Partnerships with Ripple do not affect XRP

In fact, developments on the Ripple net have almost always been expected to result in a spike in the price of XRP by most XRP holders. To their disappointment, XRP has remained as volatile as the rest of the coins on the market even with numerous partnerships with more than 100 banks and payment platforms across the globe,

For instance, a recent report indicating Ripple’s partnership with two more payment providers in South America and Asia will see InstaRem and Sao Paulo join the RippleNet bandwagon. The two firms will take advantage of Ripple’s xVia which is one of Ripple’s latest projects. xVia allows companies and payment providers such as the Brazil-based Sao Paulo and Singapore based InstaRem to send money through banks without any initial software installation. Xvia and the partnership with RippleNet will in no way involve the use of Ripple XRP as most XRP holders would expect.

The distinction between XRP and Ripple

Basically, even though Ripple (the company) created and holds most XRP, the company also has 3 other Blockchain related products that are completely unrelated to XRP the cryptocurrency. There is the xCurrency which is a flagship product that enables banks to efficiently move money across borders without using the XRP cryptocurrency. The product is loved by the banks as it is an efficient product that saves them money. Next is the xRapid product which is the only Ripple product that uses XRP to improve liquidity while trading in emerging markets across borders. Finally is the brand new xVia product that is similar to xCurrent in that it enables payment providers apart from banks, move money efficiently at affordable costs.

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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