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

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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.

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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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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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