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Ripple vs XRP: The Company and the Coin

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Ripple vs XRP

The world of cryptocurrencies can often be confusing to newcomers. Not only do they have to understand a huge number of new terms, how everything works, and how to find a good project to invest in, but they also have to deal with issues that are sometimes complicated to understand even for those with experience.

Perhaps the best example of how complex the crypto world can really become from the second largest cryptocurrency by market cap, XRP.

The first thing to understand — which is also something that a lot of investors find complicated — is that XRP is not the same as Ripple.

Ripple and XRP

XRP is the second largest coin in the crypto world. It used to hold the third place, but its expansion and increased usage secured additional funds, and the coin managed to beat Ethereum, which was strongly impacted by bearish market and intense competition. Now, XRP is second only to Bitcoin.

XRP was developed by a company called Ripple Labs, and because of this, it was originally known as Ripple. However, due to the confusion that followed, where it was difficult to tell whether others are talking about the coin or the company, it was renamed to XRP.

Today, it is a native cryptocurrency of the XRP distributed ledger, which is open-source and, according to Ripple Labs, decentralized.

When it comes to Ripple Labs, this is a company launched by Ryan Fugger and Jed McCaleb. Since its creation, about eight years ago, the firm developed XRP, as well as several products used for making quick payments anywhere in the world. These products — xCurrent and xRapid — were quickly recognized as advanced payment systems by banks around the globe, and many of them decided to enter a collaboration with Ripple in order to replace their old systems, which often take days to complete transactions. In comparison, Ripple’s products can manage the same in only 4 seconds, and their TPS is pretty much the same as that of major card companies.

Another thing to note about Ripple products is that they transfer the money by turning it into XRP, at least for the purpose of traveling through the network. Other than this, XRP is allegedly independent of Ripple, and its creators claim that the coin would survive even if the company were to disappear.

While this is proof of the coin’s decentralization to many, others were not convinced, and both XRP and Ripple had to face numerous accusations of centralization, coin manipulation, and even accusations of the coin being security. This has led to several lawsuits, especially in 2018, and XRP became a center of numerous controversies.

However, as time progressed, so did the coin and the company, and these days, most of those controversies are forgotten. XRP and Ripple achieved a lot of success on their respective battlefields, and both are well-known and well-respected these days.

In fact, many have high hopes for XRP and believe that the coin might be the one to lead cryptocurrencies to mainstream usage. Others speculate that it might become the representative of the third generation of cryptos. It is unknown what may happen in the future, but for now, at least, XRP seems to be reliable, more stable than most coins, fast when it comes to performing transactions, and completely independent.

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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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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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Messari Adds DigitalBits (XDB) & Branded Currencies to its Registry

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One of the top providers of crypto data and research tools on digital assets Messari has announced the addition of DigitalBits (XDB) to the Messari Registry. As a participant, DigitalBits governing body, the XDB Foundation will be providing regular updates and commit to transparency. The DigitalBits blockchain was built to support consumer digital assets – branded currencies.  As the company stated, “a global, legacy digital asset class, branded currencies play a vital role in consumer-brand interactions, and account for billions of dollars in value.  Branded currencies issued on the DigitalBits blockchain will also be included within the Messari Registry.”

Additionally, Messari and the XDB Foundation “may explore the buildout of a novel registry to accommodate branded currencies tokenized on DigitalBits. This registry would address issues consumers face when determining the legitimacy of branded currencies and their respective organizations,” the announcement said today.  The goal is to provide a standardized framework for organizations leveraging branded currencies, certifying asset legitimacy, and clearly outlining characteristics including but not limited to asset issuance and organization identity.

Commenting on the news, Messari representatives said they recognize the potential for the use of branded currencies to grow in the future as more enterprises embrace blockchain technology. Ben O’Neill, Vice President, BD & Operations at Messari said the Registry will help all…

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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