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xRapid: A Ripple (XRP) Payment Solution That Uses XRP, The Coin

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Over the past few months, there have been lots of debates by the Ripple Community on whether all three products of Ripple (XRP) use XRP, the coin. The products include xVia, xCurrent, and xRapid. Well, it is only logical to get at least one product out of the way and confirm that xRapid does indeed use XRP. This is after there was news of the release of pilot results of money remittances across the borders of the United States and Mexico using the same payment solution.

The results revealed that xRapid eliminates all delays in international payments and also reduces the transaction costs. By using XRP as an intermediary source of liquidity through the XRP ledger, that part of the transaction only takes 2 – 3 seconds as is expected of Ripple technologies. When you add the additional time taken to convert XRP through digital asset exchanges and local payment processes, the transaction only takes an additional 1 minute 58 seconds; bringing the total to 2 minutes.

This is revolutionary in the sense that it reduces a 2 to 3 day transaction to mere 2 minutes and also reduces the cost of the transaction by up to 40 – 70% as reported in the announcement. The financial institutions accomplish this by getting rid of the middlemen who charge exorbitant Forex exchange fees and give unfavorable rates.

With respect to xVia on whether or not it uses XRP, there is a discussion on xrpchat.com that claims that it does. One explanation is that since it is compatible with the XRP ledger, the end user can determine to use XRP on the API based payment solution known as xVia. XRP is used as an intermediary asset and pool of instant liquidity to make the payment cheaper and faster as can be seen in the trials of xRapid earlier mentioned.

In a nutshell, xRapid and xVia do in fact use XRP as a source of instant liquidity and a way to cheapen and quicken the fiat transaction.

Now the biggest question is if the XRP used in both payment solutions comes from the circulating supply or the one in escrow that is released every month. 1 Billion XRP per month is known to be released from escrow. The unused XRP after the monthly release is usually locked back up into the same Escrow. Perhaps the team at Ripple can answer this question.

With respect to the current market performance of XRP, the markets are in the RED. XRP is down 12% and currently trading at $0.71 at the moment of writing this. This is due to the market losing close to $40 Billion in terms of total market capitalization. Bitcoin is also not doing to0 well with the current value of $8,767 and down 6.22%. Perhaps next week will be a better one for the crypto-verse. Keep HODLing!

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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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