Connect with us

Blogs

RippleNet: The World’s Fastest Growing Global Ecosystem for Cross-Border Payments

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

In today’s rapidly growing digital world, virtual payment solutions have become all the rage in the market. Governed by cryptography, the decentralized blockchain technology offers a number of prominent advantages over fiat currency. Representing the next generation of blockchain technology, Ripple specializes in all the significant attributes of a blockchain network, from faster transactions, great transparency to low transaction fees. With the aim to deliver a secure and integrated global payments system, Ripple combats the challenges of the existing blockchains.

Looking at today’s global payment systems, most of the enterprises lack a decent infrastructure, wherein the networks lack the necessary features, including effective inter-connectivity to cater to the demands of the international consumers. Simply put, the existing networks either lack proper regulations or are ineffective at handling the challenges that are involved in cross-border payments. This is why; most influential banks, enterprises, as well as consumers choose to opt out of the present system. Whether it is high processing fees or incompetent servicing facilities, the limitations of the present global networks are driving away brands and consumers at once from banks and centralized systems to FinTech providers that are adept at handling the issues at hand. Featuring among the top blockchain ecosystems, Ripple has become one of the viable digital investment options for local as well as cross-border transactions.

Reimagining Cross-border Payments with Ripple

As discussed in the previous section, Ripple strives to mitigate some of the inefficiencies in the current global payments systems. As one of the world’s leading global payments networks, RippleNet delivers a seamless user experience for global payments. Unlike many other institutions that are a product of several disparate technologies, unstandardized communications, and centralized systems, RippleNet is a single entity that is formed of a network of banks that execute transactions via Ripple’s distributed blockchain technology.

The rapidly growing ecosystem of RippleNet can be categorized into two sections, the network members or the payment providers and network users or the consumers. The network members, also known as the enablers, are formed of banks and centralized enterprises looking to process transactions for corporate companies and consumers. Apparently, the banks would capitalize on RippleNet to augment their servicing schemes. On the other hand, the network users, also known as the originators, include the budding businesses corporate treasury, alongside the consumers.

The decentralized system of RippleNet is based on the agreement made between the Ripple executives and other network participants, who deploy the same blockchain system, besides adhering to the standard set of payment regulations. The network’s participants, especially the banks, benefit greatly from the strong connectivity, standardized technology, and payment execution policies. At any rate, Ripple’s avant-garde financial technology outpaces its competitors in terms of effective down payments costs, processing fees, and transparency, ensuring expeditious transactions across the globe.

Developments in the Ripple Network

Considering the faltering state of the crypto market, Ripple’s performance has been impressive when compared to other prominent blockchain networks. Quite naturally, the developments on the Ripple blockchain have a far-reaching impact on the coin’s stability. As per the recent updates, there have several exciting developments in the system in terms of listings, partnerships, and upgrades. Speaking of Ripple’s current developments, Heir’s announcement of enabling support for Ripple within its ecosystem has grabbed the attention of the investors. Besides this, Ripple has been listed in renowned exchanges, including CoinSuper. While Ripple has been strongly criticised and deemed unsuitable for security trading, there has been good news in the form of interesting tie-ups. As per the latest news, as many as 10 new companies are testing Ripple’s xRapid to deploy XRP as their payment option.

Ripple and the Market: Will Ripple (XRP) Touch the $0.50 Price Level?

As evident from the charts, almost all top-performing coins are grappling with the bears in the aftermath of the price slump. With Bitcoin trading in the red for the greater part of the year, it has been a challenging year for many cryptocurrencies. After a temporary bear run, Ripple is finally seeing a silver lining. This means the bullish momentum is making a comeback.

As per the price charts, Ripple(XRP), the third largest currency by market capitalization, is vacillating between 50 and 100-SMA hourly chart, with the price climbing back to $0.4788 as of 26th June 2018. While Ripple has lost more than 76% within a span of 6 months, the coin is trading higher than its last year’s low. With the price showing signs of a reversal, the Ripple followers have a lot to look forward to, and the large-scale business projects, which have become the talking point in the market, are definitely something to watch out for. If one can ignore the day-to-day price volatility, amazing things are in the cards, and going by the response in the community, Ripple (XRP) might cross the milestone of $0.50 in the coming months.

For the latest cryptocurrency news, join our Telegram!

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 Pexels

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

Continue Reading

Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

Published

on

crypto credit cards
READ LATER - DOWNLOAD THIS POST AS PDF

It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

Continue Reading

Elite