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XRP Is Pure Perfection on the Blockchain

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XRP
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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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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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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…

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Top 3 Coins to Buy Before They Go Big

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coins
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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…

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