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XRP Is Pure Perfection on the Blockchain

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The crypto markets are back to their usual ways of decline ahead of a major decision. At the moment of writing this, the SEC has 2 days to rule on two Bitcoin (BTC) ETFs filed by the ProShares firm. This means on or before the 23rd of August, we will either get another rejection from the SEC or an acceptance of the rule change. In this case, the SEC cannot delay on a decision. Perhaps this is why the crypto markets have suddenly started showing all red as crypto traders capitulate on their positions given the history of the crypto market reaction after an SEC announcement. XRP is down 2% in the last 24 hours and currently trading at $0.32 at the moment of writing this.

It is also during periods of uncertainty that we are reminded of how great some of these projects and coins are. We start focusing more on the technological advancements as well as real-life use cases of our favorite digital assets, rather than just market performance.

So why is XRP Pure Perfection on the Blockchain?

Firstly, let us remind ourselves of how fast and efficient the XRP digital asset is on its ledger. Transactions on the ledger take an average of 3.3 seconds and cost $0.0004. None of the other digital assets on the crypto-verse can claim such efficiency. It is no wonder xRapid is being slated as saving remittance service providers 40 – 70 percentage in forex fees as well as speeding up a 2 – 3-day transaction, to as little as 2 minutes. Deducting 3.3 seconds from that time, we find that the 1 minute and 56.7 seconds delay is on the side of the user’s internal system (remittance service provider); not that of XRP.

It is also this speed and low cost of XRP transactions, that the Weiss Ratings recently ranked it first in terms of being the preferred crypto by traders to use when transferring funds between exchanges. Think of wanting to catch on a pump of ETC on Binance and you are on a different exchange. Simply shoot some XRP over to Binance and you are in the middle of the action.

Secondly, there are chances of increasing on this efficiency of the XRP ledger to make it possible to settle transactions in just 1 second through the use of the Cobalt algorithm. This new implementation would increase the efficiency of transactions by almost 75%. The same Cobalt algorithm will bring stability onto the XRP ledger as well as facilitating a smooth running platform without a delay. How amazing is that!

Thirdly, the Ripple company is constantly working on further decentralizing the Unique Node List of Validators on the XRP ledger. Ripple currently controls 48% of this number and it looks like they will live up to their word of total decentralization with time. Total decentralization means less scrutiny by the SEC.

Fourthly, and not the last reason XRP is an example of pure perfection, is that it is hard to find fault in the vision of the Ripple company to further ease cross-border payments through their products of xRapid, xCurrent and xVia. Imagine a world where sending funds to a loved one across the globe only takes 3 minutes as was seen with the xRapid pilot tests. This, in turn, means that financing education for loved ones abroad or even sending a belated birthday present in cash will no longer be a waiting game for the transaction to complete using SWIFT and other traditional ways of settling cross-border payments.

In conclusion, XRP continues to display that it is eons ahead of the competition in terms of utility and efficiency. Once the crypto-markets stabilize, it will not be surprising to see the digital asset rise to its full potential once again in the markets.

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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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