Today, before I start talking about Ripple (XRP), I need to set the ground. So, please excuse me for not talking about the coin straight away and keep reading, as setting the base is essential here. So, in the financial world, two of the most important terms to comprehend are without a doubt, inflation and deflation, concepts that play a vital role in the way specific currency acts and reflects on the users.
To understand both, Investopedia defines inflation as a process that occurs “when the price of goods and services rise, while deflation occurs when those prices decrease.” But what does this concept represent regarding benefits or detriment for those who keep the currency at issue? Well, it appears both inflation and deflation have an incredible repercussion in this matter.
For starters, one needs to keep into account that inflation is a process that even when it may spontaneously appear on an economy, most of the times it is also created, or at least, stimulated by certain governments with the intention of obtaining a more significant benefit. I know, right? It does come across as a tough thing to assimilate, but the truth is that on an inflationary process people tend to sell and buy more goods and services, and this is actually not rocket science, in fact, due to money tends to lose its value, people refuse to hoard it and decide to use it instead.
With this said, the main benefit people can obtain from an inflationary process created by the government is the warranty that money will not be accumulated and kept by just a few, which in case of happening would create a concentration of power that only can be interpreted as a pyramid scheme, one of the labels with which the crypto environment is related the most with.
In this sense, it results clear that in order for certain coins to perform in a way where wealthiness is equitable, it is necessary for the governance of such coins to perform a pseudo inflation that guarantees the distribution of their money in an appropriate form, and that is precisely one of the actions that we don’t get to see in the cryptosphere.
Ever since Bitcoin (BTC) appeared in the financial landscape, the distribution of their money has been unequal and dissimilar, meaning only a few manage to have incredible amounts of their cryptos and accumulate wealth.
Like this, the previously mentioned pyramid scheme results inevitable, and the only possible option for the coin is to start a decreasing path (if not already started) that will conclude with the stagnation of the token.
Contrary to this, the coin that seems to have all of this calculated is none other than Ripple (XRP). The third largest cryptocurrency of the market despite being strongly criticized for locking up more than the half of their total supply, it has been building up the foundations of an economic policy that benefits its users in the future.
So, be sure that all of the moves that Ripple (XRP) has deployed have been more than calculated, including the predilection of the token to relate with bank entities that, to say the least, looks a lot like what governments do when they artificially inflate their coins and put their fresh-created money out there in the banks.
In fact, the ability of the token to determine somehow the rate distribution of XRP is a way of the coin to emulate the inflation that governments construct whenever in need, a fact that avoid the hoarding of money and the wrong accumulation of power.
XRP is a coin that sooner or later will become the one to follow in the sector, so instead of pointing out the ‘centralization’ of the crypto, what we all should be doing is supporting the works that the token realizes for us to obtain a benefit in the long-run.
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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%.
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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…