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Ripple (XRP) leaves both Ethereum and Bitcoin behind in advantages
Yes, Ripple is facing a lawsuit that hasn’t turned into crypto’s way completely yet. A bunch of investors (which are in no way representative of the crypto or Ripple community) think Ripple’s XRP is a security instead of a coin and they want the government to agree.
The outcome will not be critical for Ripple only, but for the whole cryptosphere, so you shouldn’t mind all that much because if, after this lawsuit, Ripple suffers, every single crypto coin will as well. That’s not going to happen. Instead, pay attention to current and future capabilities. You’ll find it very hard to beat Ripple in this subject.
Ripple was developed back in 2014 (that’s even before Ethereum) which is probably why this project was never centered on smart contracts (as Ethereum is). The notion of a smart contract wasn’t very developed back then, as expressed in Stefan Thomas’ words, Ripples Chief Technology Officer,
“We just didn’t feel like smart contracts was a very mature industry at that point…. Frankly, the use cases seemed somewhat dubious in value.”
Ethereum got it right, of course. But Ethereum soon found its very own problems. While Ethereum remains the smart contracts king, it’s been heavily criticized from the beginning because of its lack of scalability and high fees. That is why Mr. Thomas brought back the Ripple’s smart contract platform called Codius which can deal with both of those issues.
As Codius is relaunched already, it will probably just highlight again all the problems in Ethereum (as if Justin Sun has not done that thoroughly enough) as it also makes Ripple’s superiority evident once again.
Not so long ago, an investor called Josh Williams had this to say about the situation:
“Teams in games and elsewhere are building on Ethereum and running into the cost and scalability issues we’re all familiar with. Codius has great potential in addressing these concerns, and we are eager to work with it.”
So Ripple will use Codius to invade Ethereum’s turf and prove it is a way better option. Isn’t that interesting?
Ripple: low fees, high scalability (the anti-Ethereum)
Bitcoin and Ethereum wave the cryosphere’s flag; there’s no doubt about that. Lots of people still think that Bitcoin and cryptocurrency are the same. That bears testimony on how vital those coins are.
They were the pioneers, they kept the game going for everybody, but they remain very slow, and costly. And that’s how Ripple comes in. Just think about this transference speeds: Bitcoin, 6 TPS; Ethereum 15 TPS; XRP, 1500 TPS. You see the difference is in orders of magnitude.
Sure, this is still far away from Visa’s transaction speed. But honestly, compare them to Bitcoin and Ethereum transactions times. In the cryptocurrency world, Ripple’s rate is just incredible and leaves everybody behind.
Just think about this: when you transact on Bitcoin, you need to be ready to wait even 50-60 minutes before you get full confirmation sometimes. On Ethereum that is from three to fifteen minutes. Ripple takes four seconds. What is the option you would like to have on your mobile phone? Is it that much of choice? And on top of that, transaction fees are just ridiculously low.
As fees for ETH and BTC keep rising (because the coin’s value keeps going up) XRP’s charges are still so low, they open the market for a much broader user base. That’s why Ripple is so good for the micropayments and international transactions. Ripple’s purpose has never been to be a retail crypto coin but quick as it is, cheap as it is, it could become one. Codius could do the trick, but we’ll have to wait and see how it goes.
Ripple is not going after end users. It wants banks and financial institutions to adopt the RippleNet and its blockchain. But their low fees and scalability are such that could get, unintentionally, the retail market as well and get Ethereum’s top place. That, my friends, is a real advantage.
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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.
Image courtesy of Pxhere.com
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. One of the ways to have a successful…
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…
Altcoins
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…
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