Ripple vs XRP: The Company and the Coin - Global Coin Report
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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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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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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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