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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

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Is there a Real Value to Binance Coin (BNB)?

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Binance Coin (BNB) is one of the most interesting cryptocurrencies at the market right now. The coin was developed by the largest crypto exchange by trading volume in the world, and it only works within the exchange’s ecosystem. However, it still managed to achieve what many believed was impossible — it stopped following Bitcoin’s lead, and it started carving its own path.

At the very least, the coin is highly intriguing, but does it hold real value? This is a question that many in the crypto community have been asking for a while now, uncertain whether BNB is a worthy investment or not.

What gives BNB its value?

Binance Coin cannot be used for purchasing goods and services, like Bitcoin. It currently does not fuel a development platform like Ethereum. It cannot even be used as XRP for sending international payments. However, the coin had still managed to triple its price in the last three months and to surge when most other cryptocurrencies were seeing losses due to the last remnants of the crypto winter.

BNB managed to achieve all of this because of its use cases within Binance, but also because of its future potential. First of all, Binance is the largest crypto exchange in the world, with millions of customers, most of which use the exchange on a daily basis.

This means that the exchange inspires…

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Top 3 Reasons To HODL Binance Coin (BNB)

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After 2018 crypto winter began, everyone involved with cryptocurrencies experienced quite a difficult period. The prices were down, weak projects started failing, and even the strong ones appeared to be in more trouble than they could face. The year was especially difficult for HODLers, as they expected that the coins’ prices would continue to skyrocket. Instead, they lost a fortune, not even knowing if the prices will ever start returning to their former heights.

These days, things do not seem so bad anymore. The prices are still down, most of the coins are still at their newly-found bottoms, but smaller bull runs are improving the situation, while a massive one still remains somewhere in the future, at least according to optimists.

However, among the coins in the vast and diverse crypto market, one token stands out. Binance Coin is not exactly a typical cryptocurrency, and for many reasons. The biggest one is that it is one of the few tokens out there that does not follow Bitcoin’s lead, at least not anymore. Whether that will change in the future remains to be seen, but for now, BNB appears to be going its own way, carving its own path through the crypto market.

Its price has increased by several hundred percents since the year began, and for now, it continues to grow. As such, it is perhaps more worthy…

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Why Binance Could Become The First Centralized Company To Achieve Total Decentralization

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At this point, pretty much everyone who knows anything about cryptocurrencies knows that they are based on the concept of decentralization. The same is true for the blockchain technology. While there are some exceptions, such as certain stablecoins, most digital coins follow this principle.

This means that these coins, as well as their network, have no central authority, no single entity that would make choices and decisions that would impact others. However, while most coins managed to achieve this through different complex mechanisms and algorithms — one aspect of crypto trading still remains heavily centralized. We are, of course, talking about crypto exchanges.

Centralization of crypto exchanges

Most of the largest crypto exchanges out there are designed as companies, rather than community-operated platforms. The exchanges have their employees who designed them and developed special tools. They act as customer support, developers, innovators, and alike.

They also get to decide which coins will be listed and which are too weak, uncertain, or not fit to be found on the list. Exchanges are also responsible for keeping the traders’ and investors’ funds safe, which is why they typically develop their own wallets. As such, they are often targeted by hackers, as the coins are stored in an exchange wallet, waiting to be withdrawn, sold, or converted into different currencies.

This makes them extremely unsafe, and investors and traders are always…

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