Connect with us

Altcoins

How Ripple Convergence Solution Might Be True

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

At the moment of writing this, the crypto markets can be considered as becoming more and more immune to SEC announcements about rejected ETFs and postponements. Perhaps the crypto-traders and enthusiasts have realized that life was easier when they concentrated on the technological developments of their favorite projects and forgot about financial institutions determining their value. This is the case with the XRP community who have chosen to focus more on the possibilities of Ripple payment solutions of xVia, xCurrent, and xRapid.

The genesis of the Ripple ‘Convergence’ Theory

The idea of the ‘Convergence solution’ of merging all three Ripple software products came about when the Director of Talent Acquisition at Ripple, Jim Chauncey-Kelly, made a few comments on Interview Now on the 9th of August. The comments have since been deleted, but other publications captured what he had said:

Earlier in the year, a big part of what my team was focused on was hiring a lot of engineering. This was probably our biggest push because we are building a software called Convergence that syncs together all of our 3 major products into one seamless format.

For example, if American Express (one of our clients) wants to send $500 to a bank in Thailand, there is an immediate quote of what that exchange is and the money goes through. This is something that brings together all of our products to further enhance RippleNet which is very exciting.

Tweet Negating the Claim

Jim Chauncey-Kelly would then tweet that Ripple only had three products of xCurrent, xVia, and xRapid. The tweet has since been deleted, but it stated the following:

Hi All – for clarity — we have 3 products – xCurrent (in production) and 2 more on the way – xVia & xRapid. They will be on a ‘convergence’ release soon. There isn’t a software actually called ‘convergence’.

How it Could be True

Given how large corporations like to keep mum with respect to mergers, acquisitions, new technological advancements and even products, Jim Chauncey-Kelly could have simply not been able to keep the excitement to himself about a one-stop solution that integrates the best of xCurrent, xVia and xRapid in one simple product.

Given the fact that xVia is an API base gateway that helps payment providers and banks who want to send payments across various networks using a standard interface; xRapid and xCurrent can be categorized as the ‘various networks’ that can be interconnected using xVia.

xRapid is known to use XRP to source instant liquidity to settle payments in record time. Whereas xCurrent is a software solution that enables banks to settle cross-border payments with end-to-end tracking instantly.

xVia can connect two such banks with one using xRapid and the other xCurrent. It is as simple as plug and play. Therefore, the Convergence solution could become a reality with time for there exists a ready gateway in the form of xVia.

Current market analysis of XRP

As earlier mentioned, the crypto markets have developed some sort of immunity from the constant bad news from the SEC. Looking at our favorite digital asset of XRP, it is currently valued at $0.329 and up 1.68% at the moment of writing this. If the current momentum is maintained, it could be a matter of weeks until we see the much awaited $1 value once again in the markets.

For the latest cryptocurrency news, join our Telegram!

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 Pexels

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

Continue Reading

Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

Published

on

Encrypgen
READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Elite