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Eco-friendliness and cost-effectiveness: Ripple vs. Bitcoin vs. Visa, XRP wins

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Cryptocurrencies have changed the way we look at fiat currencies, and the way money gets transferred today. Additionally, these digital assets have proven to be a passive income (remember Ripple’s XRP was most profitable coin last year, so it changed many lives) for many due to the enormous profits they gained. Without no doubt, most of these cryptocurrencies have to be mined before they are attained.

When you hear of ‘Crypto-mining’, what comes to your mind will be high energy usage. Based on some factors including energy usage and how eco-friendly some might be, there is a big difference between Ripple, Bitcoin, and traditional technology Visa.

Ripple, Bitcoin, and Visa Energy Consumption Comparison

Not too long ago, a research was done by a team of cryptocurrency experts on how eco-friendly our money can be. The study centered on some cryptocurrencies and Visa. On electricity usage, lots of individuals plus the research concluded that the Ripple’s XRP token is eco-friendly, as it doesn’t make use of high energy compared to Bitcoin and Visa. It is important to know that the yearly energy consumption showcases that Bitcoin uses 26.05 TWh, and Visa uses 0.54 TWh.

However, XRP, which consumes little electricity makes uses of 0.000536112 TWh of electricity. For a better understanding on that, taking a look at the number of homes in the United States; the ranking remains that XRP has the capability to only power fifty houses, on the other hand, Bitcoin can power a little less than 3 million homes.

Additionally, according to the survey, it has been revealed that the total cost acquired in the energy used in (United States Dollars) per year marks a big difference between the three. XRP costs only 64,000 USD while Bitcoin costs 3 billion USD and Visa 64 million USD per year.

Other Comparisons

According to the research work, Bitcoin relies on the proof-of-work (PoW), which means that a lot of computational efforts are required. Furthermore, PoW usually involves lots of servers trying to solve highly-complex math equations to produce new blocks in the blockchain system for the production of new tokens (which is the reward for mining).

PoW requires high energy usage with a higher transaction fee and its systems are particularly connected with a high level of energy usage, electricity, Carbon dioxide emissions, and transfer fees.

On the other hand, Ripple makes use of Proof-of stake (Pos), which doesn’t make use of that much energy, electricity, transfer fees and so on. It is necessary to add that BTC emits 144 lbs of CO2 per transaction, Visa emits 0.00794 lbs of CO2 per transaction, whereas Ripple only emits 0.0000138 lbs of CO2 per transaction, according to the research.

Finally, the study also affirmed that it is good to a run a server on Ripple’s protocol because it doesn’t have high transaction fees and the cost of electricity is meager as it doesn’t use a high amount of energy. Ripple has a great utility which makes it a better choice for investors today.

Visa uses much energy than XRP – don’t be marveled, despite the praises about Visa’s network. Ripple is cost-effective, not only that, it is eco-friendly and efficient.

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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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Bitcoin

Why Bitcoin Price Remains Stable Before the Expected Hike

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The cryptocurrency rallied a few days back, but now, it has moved closer to 38.2% Fib level. Investors are enthusiastic that as it remains at this level for some time, and stabilize. The next move in Bitcoin price will take it to the 61.8% Fib level. This is when the hike in the price of the cryptocurrency will occur towards $4,200. However, after the surge in price, the upcoming weeks will see the Bitcoin falling swiftly to $3,000.

The truth is that if this move fails to occur, there may not be an improvement in the value of the digital currency. Also, this movement will enable the “bullish gartly pattern” we saw on the BTC/USD 4H chart to become a reality. Also, we are expecting that the Bitcoin price will decline the same way it has been recovering since early February.

Why this week’s closing price matters

Presently, Bitcoin price is still trading above what the intrinsic value is showing on larger time frames. However, we can see adequate room to accommodate short-term rallies. The price at which Bitcoin closes this week is very critical. It will be a clear indication as to how the digital currency will move in the coming weeks.

If Bitcoin closes at a price above $4,000, we are hopeful that the correction may come from early next week. On the other hand, any…

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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Blogs

Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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