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Ripple CEO speaks on the Bitcoin scalability trials, crypto volatility, and regulations

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During an interview that got held on the Stanford Legal Podcast (on first of this month), Brad Garlinghouse, Ripple’s CEO, spoke on the vital issues that cryptocurrency world faces today. Garlinghouse also discussed the issue of cross-border settlements and a couple of other things.

During the interview, Garlinghouse talked on what he thinks about cross-border payments future. He mentioned how cross-border payments could be able to reduce the fee of the global transactions. Ripple’s Chief Executive Officer,

That takes time and friction (cross-border) and any type of talk about friction is its cost. If we do it more efficiently, we can accelerate the global industries that we’re talking about”

The discussion moved further on how Ripple (XRP) aims to resolve the issue of cross-border payments where Garlinghouse stated:

We sell technologies to banks that will allow them to connect that we call RippleNet and that allows them to do cross-border payments in real-time at very very inexpensive fees.”

Even though the world has changed when it comes to technology, Garlinghouse added that it is “amazing” that lots of technological payments have a central counterparty.

In regards to the illegal transactions that occur in the crypto sphere. Garlinghouse said that lots of companies start at the dark side and then people start to know how much benefits and productivity can be derived for that same industry.

In regards to regulating the cryptocurrencies, Garlinghouse stated that the crypto sphere was created based on decentralization, anti-governance, and so on. In regards to this, Garlinghouse spoke about the role of Ripple in this as he said,

“…that’s in some ways of what the business ripple is building, that’s a frustrating thing because it takes time and education to explain, there’s a lot of misinformation. There real-world use cases as we talked about earlier with its payment settlement cross-border or security settlement where you can use these techniques to have real-world benefits for economies, on consumers experience, business experience.”

However, Garlinghouse supports the authorization process in cryptocurrency, which he said may benefit the cryptocurrency world in the long run.

Ripple’s CEO on Scalability

There has been a lot of fuss around Ripple these days, and in the interview, Garlinghouse rambled a lot about Ripple and XRP. Ripple chief states,

some of our products are built a hundred percent using XRP, and some have nothing to do with XRP. You can use Bitcoin for some of the products we offer. The problem is, Bitcoin has some serious issues concerning scalability.”

Garlinghouse further explained the cost of purchasing goods using Bitcoin. As per Mr. Garlinghouse, the cost involved in the case of Bitcoin (BTC) is a little bit high and the transaction time usually takes more than 50 minutes.

He went on to say,

I am personally long on Bitcoin. I’m not trying to bash Bitcoin. I think Bitcoin is not going to be a panacea that some people thought it would be for many different kinds of transactions and instead you’re seeing specialize in kind of use case dynamics for different transactions.”

Before the interview closed, Garlinghouse talked about the volatility and the reason for the unstable price of cryptocurrencies.

He said that the long-term value of any cryptocurrency correlates with its utility to solve different problems. The most vital goal of any digital asset is its utility. Well said, Ripple head, we agree to your constructive conclusion, the utility is what that could determine each a cryptocurrency’s feat in the end.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Bogomil Mihaylov on Unsplash

Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Why Binance May Be Crucial for Tron (Trx) to Reach $1

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TRON (TRX) has been one of the most popular crypto projects in the past year. The coin has received a lot of attention from the entire crypto community, and although the impressions may differ —  the fact is that TRX is one of the most talked-about coins, even today.

However, while the project managed to achieve a lot in less than a year — launch its MainNet, start multiple massive projects, launch dozens of dApps, hundreds of smart contracts, its own DEX, new token, and more — its price remains quite low. Undoubtedly, one of the reasons for this is its massive supply. TRX circulating supply is over 66 billion coins, while the total supply is over 99 billion.

Even so, the coin is believed to be massively undervalued, with its current price sitting at $0.028129, according to TradingView. This price, together with a market cap of $1.88 billion, pushed the coin out of the list of top 10 largest cryptocurrencies, and it currently sits at 11th spot. But, many believe that this is not a permanent position for TRON. In fact, its community believes that it is only a matter of time before TRON rises through the ranks, and its price hits $1. And, the way for the coin to achieve this is believed to be through Binance.

TRON and Binance

Binance is one of the world’s…

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Why Tron (TRX) Price Won’t Remain Low for Long

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TRON (TRX) has been one of the most popular cryptocurrencies in recent years. The project has achieved a tremendous amount of success in less than a year, and while the first birthday of its MainNet is approaching, TRON certainly continues to impress to this day.

With that said, its price is still noticeably low, and many would agree that the project is heavily undervalued. The low price even allowed other projects to push it out of the top 10 list, with TRX currently being the 11th largest cryptocurrency by market cap. However, it is likely that TRON will not remain undervalued forever, and that its price might soon see a surge that its entire community has been waiting for, for a long time now.

Why TRX might see growth soon

As many undoubtedly know, TRON is a lot more than just a cryptocurrency. It has developed a massive ecosystem, which offers a development platform for coins, smart contracts, and dApps. It also acquired BitTorrent last year for its Project Atlas, which will allow torrent users to earn crypto through participation in content sharing.

For this purpose, it also launched BitTorrent (BTT) token, which saw its launch on January 28, 2019 on Binance Launchpad. This was dubbed the most successful ICO in history at the time, although several coins launched since then have broken its record.

In addition,…

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