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Lousy day for the crypto market but not Ripple: ExLand lists XRP

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XRP

A Hong Kong-based cryptocurrency exchange, ExLand, has announced the listing of  Ripple’s native token, XRP. Even though it has been a sad day for all the crypto market as almost every single coin is in red by double digits (except XRP), this news would make Ripple community defy from others. The official listing news was tweeted yesterday.

Nobody will blame you if you’ve never heard about ex.land. It’s a cryptocurrency exchange based in Hong Kong, owned by China Sinx Group that keeps a shallow profile and, even if you run a very detailed search to find out details about the parent firm (or the exchange), you’ll find very little information.

Hong Kong has been a bridge between China and the West (the United Kingdom, especially) since the XIX century. And it keeps trying to remain so despite that it’s not a British colony anymore, but is now rejoined to the mainland.

It enjoys a certain degree of autonomy which is why many of mainland China’s most relevant companies try to take advantage of Hong Kong’s special status to lessen friction in doing business with the rest of the world. And that’s one of the reasons that ex.land is based there, and it’s able to trade on Bitcoin freely when the Chinese government has been openly hostile to it — despite the fact that 80% of all Bitcoin mining is done, precisely, in China.

So, the news is that ex.land adopted Ripple’s XRP currency into its platform. It’s not only going to support it, but it’s going to trade it using an XRP/USD pair.

That’s the relevant thing. If you’ve traded any digital asset in the past, you’ll know that there are not that many coins that can be bought directly using fiat currencies. The most usual way of exchanging cryptocurrencies is to buy Bitcoin first, then send it from your wallet to your exchange of choice, and only then use it to buy any other coin you like, such as XRP.

More and more crypto exchanges in the world are adopting XRP in several kinds of pairings (XRP/BTC still being the main one), a few are adopting it in an XRP/USD pair (such as ex.land) and there are some that are even adopting Ripple’s token as a base coin, putting it in direct competition with Bitcoin, no less.

The news comes to show the amazing amounts of progress and credibility that XRP is gaining in the cryptosphere when it started life as one of the most unpopular and hated tokens because of the company’s stated mission to help banks and the traditional financial system.

As things stand today, XRP has become the world’s second largest cryptocurrency by market capitalization over the last week, taking over Ethereum’s spot. It was last year’s most profitable asset, and it’s been one of the handfuls of coins that’s actually been growing consistently over the last month.

Ripple keeps announcing new strategic partnerships and developments for the company’s software and for the token, it keeps getting positive attention and coming up with all kinds of new use cases.

It’s one of the few blockchain projects that are concentrated on making cryptocurrencies useful in the real world. That policy keeps creating demand for XRP. Demand creates trade volume, and both things together make the asset more valuable.

XRP is the kind of asset that crypto needs. It will compete with Bitcoin, and it will turn the crypto market into a real economy instead of a speculative game for aficionados.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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.

Image courtesy of Mintchipdesigns/PixaBay

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META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How do cross-chain transaction networks work?

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cross-chain transactions

Blockchain technology was initially thought to be an all-in-one solution, where all the transactions would take place on a single chain. However, this idea was deemed impractical with time due to certain limitations and constraints arising within the system scalability area.

If blockchains are to live up to the expectations, then the blockchain technology should allow atomic transactions over various blockchains that are interconnected. A single blockchain may even be split into multiple chains that cooperate.

The concept of cross chains is understood as the ability of two operating blockchains to exchange information with each other in order to form a network to process transactions. Cross-chain transaction networks allow multiple blockchains to pass over information to one another.

The use of blockchain platforms like Bitcoin, Ethereum, and Ripple has highlighted scalability issues over time. These limitations in the present blockchain technology have hindered its full potentials and benefits. Exactly where cross-chain technology comes in to resolve such scalability constraints faced by blockchain technology.

Cross blockchain compatibility

The cross-blockchain compatibility issue arises whenever we talk about multiple blockchains. Incompatibility is because not all of the blockchains use similar protocols. Each blockchain system communicates according to its standards.

The lack of a standardized protocol of intercommunication between the blockchain networks cripples the blockchain technology’s scalability, here comes in cross-blockchain compatibility. The concept allows blockchains to communicate without any…

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