By now everybody even with little knowledge about cryptocurrency knows that Bitcoin (BTC) is the supreme leader of virtual currencies in the crypto market. There is no argument that Bitcoin has a tight hold on the emerging virtual currency market and this is mainly because most crypto exchanges around the world use BTC as their preferred base currency.
At present, being listed as the base currency for these exchanges is Bitcoin’s greatest utility value, thanks to the emergence of Altcoins who have outpaced all almost all other Bitcoin attributes.
In the current time, most of the altcoins in existence are more efficient, way more usable, and cheaper than Bitcoin (BTC) making them preferable for our day to day use. Although fiat pairings are slowly venturing into Bitcoin’s space as a base currency, Ripple (XRP) is working without tire doing the same but on an exponential pace.
As of now, many leading exchanges in the market have come out clear about either their intention of incorporating Ripple (XRP) or are already using it as a base currency. One of such exchanges is one of the significant exchanges in India, Unocoin, who recently announced through their Twitter page that they were going to be incorporating Ripple as their base currency.
— Unocoin (@Unocoin) July 30, 2018
Another vital exchange that is leaning towards the adoption of Ripple (XRP) as their base currency is DCEX. DCEX recently announced that they were introducing XRP as their base currency with the intention of trading with it against other 15 virtual currencies.
DCEX is the first US based digital currency marketplace to list $XRP, launched today. It uses XRP as the exclusive base currency to facilitate faster transactions. #XRP #xrpthebase #cryptohttps://t.co/RES1fLuIQO
— DCEX (@dcexofficial) July 31, 2018
Subsequently, SBI Japan, one of the most respected and relevant financial institution in Japan, decided to adopt Ripple (XRP) as a base pair currency is a game changer for the fortunes of the digital currency and blockchain technology.
SBI Japan has opened up huge investments amounting to billions of dollars of Ripple for trading, promising to have a massive influence on Ripple’s price value in future.
** NEW THREAD **
SBI Holdings, Inc. published today their 1st Quarter FY2018 Financial Results, and as I promised, I will try to emphazise the most relevant aspects for the #XRP ecosystem throughout this thread.
— XRP Research Center (@XrpCenter) August 1, 2018
What Makes Ripple Different?
Ripple stands out from other virtual currencies as it has much and something different to offer, it sells its services to financial institutions and banks, assisting them to transfer cross-border settlements in a faster, cheaper, and secure way than other platforms. Ripple Labs’ two services namely, xRapid and xCurrent are a game changer in the financial industry.
The digital coin used by xRapid is XRP which distinguishes the company and the cryptocurrency. Many refer to the company and the crypto as Ripple, something that is not correct. XRP is to Ripple what Ethereum is to the Ethereum blockchain. During the inception of Ripple’s blockchain, XRP was never intended to be used as a public currency but rather as a settlement token for financial institutions.
Ripple Vs. Bitcoin
Ripple (XRP) has undoubtedly gained a lot of respect and ground in the financial industry getting listed and adopted by many organizations indicating XRP’s potential of becoming a valued commodity in its own right. The market in the last year had seen the increase in the value of Ripple outperform other virtual currencies including Bitcoin.
Given the fact that Ripple (XRP) is mostly monitored and administered by a central body, it is quite evident that it is more secure than most virtual currencies especially those that are mined.
Cryptocurrency is still a maturing marketplace, and we can expect to witness a lot of changes and innovations in the coming months and years.
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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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…