Ripple’s XRP and Ethereum Fight for 2nd Place Behind Bitcoin In The Wake of a Bull Run

XRP is one of the most popular cryptocurrency with a low price and seemingly high adoption with banks getting involved with it. It was the best performing altcoin in the bull run of 2017 with more than 15000% returns. Nevertheless, Ethereum has also been one of the favorite altcoin investments since its inception in 2014.
XRP Initiates Altcoin Run with Gains Over Bitcoin [BTC]
XRP added about $5 billion in the past two days as it gave Ethereum the run for the second position according to total market capitalization. The news of XRP based Exchange Traded Notes and ETPs not only promotes the trading of XRP but also clears a significantly big question on its classification as security of Ripple.
Also Read: XRP Price Surges Over 30% On All-Around Positive News, Stellar [XLM] Gains With It
Ripple Inc. is a US-based company that claims to be working on the XRP ledger to build a global network of payment and settlements. According to its CTO, David Schwartz, the current system executes payments in two steps: payment execution and then settlement with the banks, which is outdated and needs improvement. Moreover, on Ripple’s utility, he added,
Ripple is building the foundation of a “payment system” which connects the banks together. While xRapid with XRP will be used as a settlement layer on top of the system.
Ethereum 2.0 and DeFi Projects A Brighter Future for ETH
Moreover, Ethereum is one of the most popular names in cryptocurrencies as well. Due to its GPU mining history and early launch, it has become a household name in the crypto-sphere. A Twitter user, alias BTC_Macro reiterated this sentiment in a tweet,
“$ETH is like an index fund of altcoins.”
Currently, Ethereum is under development to release its new blockchain, Ethereum 2.0, which will incorporate all the existing functionalities of the blockchain on a more advanced and scalable chain. The update was recognized as a necessity, as during the bull run of 2017 serious questions rose on its capacity of executing smart contracts and transactions on a global scale.
The most important features to be implemented in the update are Proof of Stake (PoS) and sharding. Recently, Ethereum released the public test version of this chain which included staking. This is a huge shift from the inefficient Proof of Work (PoW) protocol. Nevertheless, the PoW has been responsible for the globalization and decentralization of the cryptocurrency.
Also Read: Crypto-Market Update: MCap Nears $250 Billion; Alts XRP, ETH, BNB, XTZ Join Bitcoin’s [BTC] Bull Run
Furthermore, the final phase of Ethereum 2.0 is expected to be released in 2021. However, Ethereum is also making progress in its utility and adaptability with DApps and DeFi. Decentralized Finance is a new financial system that aims to provide a plethora of financial products on an interoperable platform. According to reports, over 2 million Ether [ETH] have already been staked to build the DeFi system.
Last but not least, a rise of about 0.1 dollars on XRP corresponds to an increase of about $5 billion, while a rise of $10 on  Ethereum corresponds to a rise of approximately $1.5 billion in its market capitalization. The market capitalization of Ripple and Ethereum is around $18 billion and $23 billion respectively on 15th May 2019.
Which cryptocurrency will lead the altcoin markets, XRP, Ethereum or some other cryptocurrency? Please share your views with us. 
The post Ripple’s XRP and Ethereum Fight for 2nd Place Behind Bitcoin In The Wake of a Bull Run appeared first on Coingape.
Source: CoinGape

Ripple (XRP) Unresponsive, Lagging and Consolidating Above 30 Cents

Ripple (XRP) in an extended consolidation
Technical reasons preventing RippleNet clients from upgrading to xCurrent 4.0

For Ripple (XRP) demand, then more banks should use xRapid an “on-demand liquidity tool.” Unfortunately, it is a handful of banks that use the solution as technical and legal reasons slow down adoption. Meanwhile, Ripple (XRP) is flat, ranging within a 10 cents zone with caps at 34 cents and 40 cents.
Ripple Price Analysis
Fundamentals
Even though Ripple (XRP) is one of the most liquid assets in the sphere and the third most valuable, its performance in the last few months has been dismal. Perhaps they may be functioning as designed, acting as a settlement tool.
However, it is clear that should Ripple (XRP) prices expand then not only will it benefit investors, but Ripple Inc that a big chunk of Ripple Lab’s XRP will be in a better position to support projects around XRP use case through Xpring.
Even so, before then Ripple Inc should increase their marketing, engage with central banks and individual financial institutions, create a perfect rapport with regulators and above all, convert as many FIs into using xRapid. That is now simple and because of xCurrent Ver 4.0 that allows xCurrent clients to incorporate xRapid, a solution that makes use of xCurrent rails introducing speed and efficiency.
All the same, David Schwartz admits that besides regulatory challenges, there are technical reasons behind the low uptake of xRapid though a majority of banks accept xCurrent. He says upgrading banks must re-configure their middleware and that calls for other possible expensive adjustment or even downtime that banks won’t agree.
Candlestick Arrangement

Ripple (XRP) is down 2.3 percent oscillating around early April open. Although we expect bulls to flow in, it is until prices clear 34 cents and 40 cents according to our laid out XRP/USD trade plan.
Before then, traders should be ready for an extension of a ranging market and a possibly explosive consolidation that will drive prices either to oblivion below 15 cents or to the moon, above 80 cents.
However, as aforementioned, the success of XRP hinges on more than one factor now that prices move inversely to Bitcoin. In light of market conditions and an extended trade range, we shall adopt a neutral but bullish stance aware that dips below 30 cents invalidate our trade plan.
Technical Indicators
Participation levels are low. Even so, we expect a breakout above 34 cents in weeks ahead. Accompanying this must be volumes exceeding 30 million of Apr-26. On a higher time frame, it will be ideal if there is an up-thrust above 40 cents with volumes above 98 million of Apr-3.
Chart courtesy of Trading View
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Source: New feedNewsBTC.com

Ripple’s David Schwartz Sells His XRP Stack, Time to Get Out?

Coinspeaker
Ripple’s David Schwartz Sells His XRP Stack, Time to Get Out?
According to the Twitter user @hlnoooo, Ripple’s Chief Technology Officer, David Schwartz, has been selling his XRP stack. This should be the biggest warning for the XRP community according to him.
Ripple’s David Schwartz Sells His XRP Stack, Time to Get Out?

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Source: CoinSpeaker

Quora Removes Schwartz’s “Joke” , Ripple (XRP) Drop with Light volumes

Ripple price drop 3.5 percent
Quora deletes David Schwartz’s joke answer
Transaction volumes low as prices range

Quora’s moderation team removed David Schwartz‘s comment because it is a “joke” answer highlighting the level of censorship in centralized systems. All the same, Ripple prices are under pressure and slowly dropping towards 30 cents.
Ripple Price Analysis
Fundamentals
A while back, the blockchain community thought that Ripple and XRP were synonymous and even a split wouldn’t cause a differentiation. The argument was that XRP was an Air-drop and without the currency, the platform can still function. Critics went on saying Ripple transactions are reversible considering the then level of centralization.
Well, the decentralization claim has been clarified on numerous occasions by David Schwartz. While addressing the transaction blocking claim, Brad said the company couldn’t, at any point, reverse or block transactions on its XRP Ledger.
Now, David Schwartz the CTO of Ripple experienced firsthand what censorship is when Quora moderation team deleted his his “joke” answer. Quora’s terms are clear and stating that “Answers and Reviews that are intended as jokes are not helpful responses. Besides, humorous answers and reviews that deliberately misinterpret the intent of the question/topic will be collapsed.”
Candlestick Arrangement

Aside from Stellar’s XLM, XRP is the second-worst performer in the top-10 and down 3.5 percent from last week’s close. It is likely that prices will trickle lower in days ahead as sellers of Feb press the liquidation medal driving prices towards 25 cents as our previous XRP/USD trade plans are invalidated. As it is, the selling momentum is strong. As prices band along the lower BB, we shall instead shift our focus to how Ripple (XRP) prices will react at Mar 14 and Feb 30 lows. The level is an important support line and marks the base of Q4 2018 and Q1 2019 lows. Any break below would see XRP drop to 25 cents.
Technical Indicators
What’s encouraging from a technical point of view is that this Ripple (XRP) is at the back of low participation. By yesterday’s close, averages stood at 11 million which is far lower than those of Feb 24-25 averaging 32 million. Therefore, unless otherwise there are sharp drops with averages rising to 40 million for example and accompanying bar above 34 cents or below Q1 lows above 61 million, we shall maintain a neutral but bullish overview on XRP price.
Chart courtesy of Trading View
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Source: New feedNewsBTC.com

Ripple/XRP: David Schwartz on regulatory uncertainty hanging over XRP, Ripple

There have been a lot of wars fought on Twitter on the nature of XRP and Ripple’s relationship with the cryptocurrency, with tonnes of articles speculating what XRP is. David Schwartz, the CTO of Ripple, put the speculation to rest in his recent interview at the SXSW Conference.
The CTO clarified that Jed McCaleb, Chris Larsen, and a couple of other people got together and created the XRP ledger. Subsequently, the developers gifted some of the 100 billion XRP created to themselves, and the company Ripple, which are both independent of each other.
He also added that holding XRP did not mean that the person held a stake in the company, Ripple. Schwartz continued by saying that security laws aren’t fully clear as to what rules have to be applied to the nascent technology. He also added,
“Security law has not changed with respect to blockchain technology… the SEC recently has talked about how they are going to think about how these tokens meet security laws. But they haven’t given a black and white test. They’ve given a test but it’s filled with vague terms.”
Additionally, Schwartz said that they were confident and “pretty comfortable” that XRP was not a security, and that it would ultimately be the SEC and the courts that’ll decide whether XRP was a security or not.
He further commented that the biggest hindrance to development in the crypto ecosystem were regulation/laws. Schwartz explained that Ripple and other companies in the space were lobbying regulators about the same.
John Bev, a YouTube user, commented,
“XRP should be used by Men/Women in the Military, who are stationed overseas, to send money back quickly to support their loved ones. We should pay homage for creating ARAPNET, now INTERNET, and allow them to use XRP!”
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Source: AMB Crypto

Ripples’ CTO’s Take on XRP is a security and it’s Secret Sauce

Ripple’s CTO, David Schwartz took a public stand at the “Blockchain Beyond the Hype: The Ripple Effect” session at SXSW on 14 March 2019. The Chief Technical Officer of Ripple is blockchain enthusiast but at the same time a humble innovator.
According to Schwartz, “the internet was a powerful force for good in democratizing the flow of information and today control of the flow of funds” is used in the same way it was before the internet. Hence, there is a lot of space for growth in it.
He was “very optimistic with the technology,” nevertheless, accepted the fact that Ripple’s use case is currently focused only on enabling international payments.
How Is Ripple Different Than Bitcoin and SWIFT
According to Schwartz, Jed McCaleb’s idea of finding an alternative to Proof of Work (PoW) for avoiding double spent was the ‘secret sauce’ for Ripple. He envisioned establishing a new open ledger on Blockchain that would be more efficient than Bitcoin and could integrate with the existing financial system.
Schwartz made interesting comparisons of the current payment system provided by SWIFT with the RippleNet. With the SWIFT payment network the path of the transfer of funds cannot be determined, and so fees of sending transactions are high and variable. He cited that RippleNet and SWIFT Networks are fundamentally different.
According to him, Ripple is building the foundation of a “payment system” which connects the banks together. While xRapid with XRP will be used as a settlement layer on top of the system.
He also cited that Paypal and Venmo are examples of “democratic payment systems, but they don’t interoperate.” Hence, they currently providing the database to banks and other financial institutions to make use of the payment system; the actual transfer of funds can occur at a later time.
On the success of the network he said “200 plus financial institutions have signed with us” and they see an “evolution to able to sell softwares to bank, bring traffic on our network, settle with a digital asset and growing the whole cryptocurrency through efforts like Forte and Xspring”
On Decentralization and XRP as a Security
Schwartz noted that an authentic decentralization “comes down to what determines the rules of the system” and if there is a central party “that coerces any other party” the system is not decentralized. The transactions that take place between two people must be automated, like on the Blockchain.
He also noted that the XRP ledger was formed before Ripple’s inception.
“XRP originated when Arthur Britto, myself, Jed McCaleb, and Chris Larsen built the XRP ledger back in 2011, 2012. The original founders who built that system gifted a bunch of XRP to Ripple to have the company work and build an ecosystem around it.”
There are numerous banks on the RippleNet. The interoperability and transparency provided by Ripple would help the banks retain their customers; As they continue to offer their profit-making products like loans and insurance. Also, the value on the ledger is retained permanently irrespective of the specific bank, hence, provides credit protections.
Moreover, he said that “We’re outside of those payment flows like RippleNet and xRapid, we’ve just built the base….” Hence, until SEC designs a “black and white test.. we’re pretty comfortable that XRP isn’t a security.”
How will Ripple monetize their Efforts?
As a humble innovator, he noted that since the network works on its own, Ripple is currently not charging any transaction fees. Moreover, he noted as the technology is still in its early phases their primary concern now is building an efficient payment system for the world like Twitter and Facebook in the beginning. He is confident that if “Demand is there”, they would find a lot of avenues for monetization for Ripple.
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Source: CoinGape

XRP’s price could be tied to success of Ripple and Forte projects, says Ripple’s David Schwartz

Despite the XRP community’s anxious wait, the price of XRP did not seem to be going anywhere, but sideways. Ripple’s CTO, David Schwartz, spoke about how the success of companies and projects played a major role in the pricing of cryptocurrencies.
Schwartz said that there were a lot of factors that fuel price change of a cryptocurrency, including the success of the company linked to the crypto. He said that “the prices are a metric of the success of the project,” among other things. The success of a company or the project would depend on the use case being developed, and the market for that product.
Moreover, Schwartz stressed on the trustworthy and secure nature of blockchains, and how they’ve developed over the years to run consistently without going down, an upgrade when compared to traditional systems.
Additionally, the CTO said that the price of XRP was not affected by Ripple’s developments, saying that this was “strange.” He explained that the market was unable to distinguish the attributes of certain projects, and that they were betting on the ecosystem as a whole.
Schwartz said he wanted XRP’s price to be linked not to the company Ripple, but to the ecosystem concerning XRP and Ripple. However, exchanges did have an effect on the prices of cryptos, he confirmed, calling it the “Coinbase Effect.”
Speaking about Ripple and XRP, David Schwartz said that the primary use case that Ripple was focusing on was international payments i.e., inter-currency payments. He added,
“There’s a huge explosion of innovation not just around the XRP ledger but the entire space and the biggest challenge is finding the use cases that fit the technology, and I’ll be honest, we haven’t done a good job at that.”
A YouTube user, GivingYouTruth commented,
“In the interview, David says if he knew the answer, he would be rich. David you are rich!!!!! You are Rich beyond our wildest dreams!”
Another YouTube user, E Deveney commented,
“I liked Corey, but David should definitely take a more visible role. He explains everything very well and instills confidence. We always think in a 1-2 year timeline, I’m thinking 5”
The post XRP’s price could be tied to success of Ripple and Forte projects, says Ripple’s David Schwartz appeared first on AMBCrypto.
Source: AMB Crypto

Ripple’s David Schwartz talks about how he fell in love with Bitcoin [BTC]

David Schwartz recently spoke at the SXSW Conference and covered all things cryptocurrencies, including Bitcoin [BTC], Ripple, and XRP. He also gave a rare insight into how he came to discover Bitcoin and how he was fascinated by its technology that paved way for decentralization.
The CTO of Ripple, David Schwartz, explained that he was working on cryptography for secure messaging and cloud storage for a few clients when he discovered Bitcoin.  He stated,
“When I first saw Bitcoin… it was love at first sight. I saw the technology and I thought, there is really something here. I wanted to learn everything I possibly could about it  “
Schwartz said that he encountered a problem with software performance and was offered bounties to solve them. Since Schwartz was fascinated by the technology, he explored the source code with an intention to solve the issues and claimed the bounties.
Schwartz added,
“I fell in love with Bitcoin because of the lack of need for a central operator or a central point of trust.”
Further, he said that Bitcoin’s idea was to disrupt the flow of cash/funds like the internet disrupted the flow of information. However, Bitcoin was yet to achieve it, he said.
Commenting on Bitcoin’s technology and Proof-of-Work, Schwartz said that people confused PoW as the “secret sauce” of Bitcoin. He added,
“The secret sauce of Bitcoin is that all of the stated information is public, the ledger is completely public, you can see every transaction, every balance… and that was the sort of decentralization magic and proof-of-work was just the way it solved the double spend problem.”
@XRPMr, a Twitter user, commented,
“Great job Sir! You deliver amazing knowledge without mixing it up in a word salad. We are all so lucky to have you. ”
Another Twitter user, @CidVicious 2, added,
“Yes in fact, if you could get a head shot of every person in there and record the whole session and paste in each slide you see from the presentation, that would be great. Thanks!”
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Source: AMB Crypto

Ripple CTO Shouts on XRP Troll, Says ‘Big Banks are not One Thing’

Amidst XRP’s ownership discussion on Twitter, David Schwartz, Ripple’s Chief technology officer reacts to simultaneous tweets. He shouts at a tweet that points out the trust factor of XRP across Big Banks.
XRP Troll Continued
It all started from Jan 21, 2019, by a Twitter user David Gerard who talks about XRP army and Bitcoin Maximalist. And it hits the mainstream when a famous journalist, Frances Coppola responds to the ongoing discussion. During the discussion, Coppola disagrees to a statement that says
‘No country move too far without USD/Crypto guidelines’.
She then talks about the biggest obstacles to xRapid adoption, a product of Ripple. According to her, XRP token relies on around foreign exchange (FX) risk. Likewise, she adds, ‘major banks often concern about the control, capacity and FX risk – which appears an obstacle for xRapid’s emergence across banks. To note, xRapid uses XRP token to fund real-time liquidity.
And XRP is more unstable than any major currency., Coppola said
The actual shot by David Schwartz, Ripple CTO hit after Coppola notes, Big banks won’t trust XRP because they are control freak. In her tweet she says, Ripple in an email claims that it doesn’t control XRP.  With this, coppola continued;
That misses the point. Big banks are control freaks. They won’t trust a token that they don’t control themselves. And they are big enough to create their own payment rails.
In response, David Schwartz shouts;

Big banks are not one thing and compete with each other. Something nobody controls is way better than something your competitors control.
— David Schwartz (@JoelKatz) February 1, 2019

However, it is important to note that Ripple itself holds 60 percent ownership of XRP supply which quite often falls into criticism.
It’s Not Over Yet
Social media, particularly, Twitter and Reddit have very active members of the XRP community that sneaks at the point of every discussion relating to XRP, Ripple and its underlying products. Correspondingly, the XRP army quickly responds their opinion to the discussion. As such, one such active member, Tiffany Hayden quoted Collopa’s earlier article which talks about XRP and the regulatory concerns.

We’ve got a real trailblazer on our hands.“A new international payments network based on central bank digital currencies could work on an entirely pre-funded basis.”Money would be tied up, but it’s not $XRP or @Ripple related and that’s all that matters!https://t.co/BRfF3Sr12H
— Tiffany Hayden (@haydentiff) February 1, 2019

Furthermore, Tiffany pointed out a snap of Coppola’s tweet where she looked more optimistic towards XRP and says;
This “solution” would expose central banks to credit risk and because TAXPAYERS BACK THE CENTRAL BANKS, any losses from loan defaults would be a taxpayer burden. How can she write about the problems lack of trusted intermediaries cause while simultaneously tweeting this?

 
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Source: CoinGape

XRP Ledger sees the lowest close time with a simultaneous massive pump in transaction volume

XRP Ledger saw a massive transaction spike on January 23, 2019, as it reached a massive 104 transaction per second [TPS]. The usual number of transactions for XRP ledger lies anywhere between 10-20 TPS.
@cryptokinger noticed the same as he tweeted the following and posted a screenshot of the TPS:
“Highest @Ripple $XRP #RippleNet TPS seen in a while just now – note the higher the TPS, the faster the Ledger Closing Time #xrpthestandard”
Source: Twitter | @cryptokinger
The ledger closed time – the time taken for the XRP Ledger to reach consensus on a transaction, was the lowest, i.e., 0.50 second. Lower ledger close time is directly proportional to the transaction speed, hence, the people who noticed this sudden change in the XRP Ledger close time and the TPS were surprised and sought the reason for the change.
Another user @se2lgFUxkLEzOCu posted a new screenshot [as seen below] with an increase TPS of 104 and decreased ledger close time of 0.2 second.
Source: Twitter | @se2lgFUxkLEzOCu
The decreased ledger close time and a massively increased transaction volume could throw any user off balance leading them to presume that something might be happening with Ripple under the hood. A similar scenario took place on November 20, 2018, where the ledger close time decreased to 0.5 seconds while the transactions reached a massive 63 TPS.
David Schwartz, the CTO of Ripple and one of the brains behind XRP swooped in to clarify the numbers. He tweeted on November 20, 2018 saying:
“It’s possible the network was unable to agree on a close time. Consensus won’t wait if only the close time is unagreed (not worth delaying transaction confirmation) and has to try again next ledger.”
While some people believed it could Temnos or Cobalt under the works, but Dr. T and other well-known members in the community clarified that it couldn’t be so.
@TeholBeddictXRP commented:
“I’ve seen frequent jumps in TPS and drops in transaction close time at the start of the hour. Numbers like these are not that uncommon. Likely just the way it’s calculated and not real data.”
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Source: AMB Crypto

XRP gets more decentralized as Proof-of-Work-based cryptocurrencies face extinction

Opinion:
XRP and Ripple, together have created quite a buzz in the financial system, especially in the remittance industry with their blockchain solutions.
XRP has faced all the major cryptocurrencies and triumphed to become the second-largest cryptocurrency by market cap in the space. The only other thing that’s left for XRP to do is, overthrow the reigning champion i.e., Bitcoin [BTC], which obviously had the first-mover advantage and peoples’ sentiment.
Bitcoin’s Proof-of-Work [PoW] Vs. XRP Ledger’s Distributed Agreement Protocol
Bitcoin was the first cryptocurrency that was created and it uses PoW algorithm, which is how the transactions are verified and solves the problem of “double spending”. PoW algorithm consists of miners, who validate the transactions by putting in their resources and, hence, they are rewarded for the same. This process, which seemed good enough, will be relatively rejected by the miners as the reward for mining decreases after mining every 210,000 blocks.
Eventually, the miners will be left with no option, but to quit. Moreover, the PoW algorithm uses massive resources, which extracts a heavy toll on the world we live in. Furthermore, miners that are spread out across the globe is what makes the Bitcoin network decentralized, but it is also what makes it less decentralized and susceptible to attacks.
Since Bitcoin gained a lot of notoriety as its prices sky-rocketed, mining Bitcoins suddenly gained attention, causing a lot of miners to pool their resources to mine the coin, resulting in large pools with huge resources. If some of these pools ever decide to collude, they could easily perform an attack on the Bitcoin’s network, create a second chain, double spend, stop/reverse transactions etc.
Ethereum Classic, a PoW-based cryptocurrency, recently faced a brutal 51% attack, resulting in a loss of $2.1 million worth of assets. The attacker had enough hash-rate to disrupt the original chain and double spend assets.
Unlike Bitcoin [BTC] and Ethereum [ETH], XRP uses Distributed Agreement Protocol aka Consensus Protocol. XRP solves the problem of double spending in a more efficient way in comparison to PoW cryptocurrencies. It uses a distributed agreement protocol that relies on validators to group transactions into ordered units and agreeing on one such order.
These validators are spread across the globe and unlike Bitcoin’s miners, these validators are not rewarded for grouping transactions into ordered units.
In addition, XRP Ledger requires a total of 80% of all the validators on the entire network to support and vote for a change over a period of two weeks before it goes into effect. The two-week timeframe provides an incentive for the users to upgrade their software to accommodate the change. If the change is not agreed upon by the 80% of the users, then it won’t go into effect.
Furthermore, Schwartz said that if more than 20% of the nodes disagree with the majority, the network would halt and reconfigure a new list that has a majority of the nodes in agreement. This would create more than one ledger and the ledger that has the supermajority would be selected as the final ledger.
Moreover, if the validators become selfish and collude to disrupt the normal flow of transactions, then the users would have to agree on a new list that would provide enough overlap so that they can continue to interoperate.
David Schwartz, the CTO of Ripple commented on this matter [about attacking XRP Ledger] in a tweet, he said:
“This has never been a problem for any blockchain in the past, and it’s required by every blockchain when previous agreements fail to be sufficient. Decentralized systems fundamentally allow interoperation only among people who continue to agree on a large number of things.”
“Surprisingly, the lack of incentives in the XRPL design actually makes this much easier. All honest participants want the network to work well and have perfectly aligned interests. There’s no power over anything to give out, no rewards to argue over splitting, or the like.”
Hence, when compared to other PoW cryptocurrencies, XRP is better at resisting attacks by collusion or bad actors, as it does not provide any opportunities for a person to develop control over the ledger due to its consensus protocol. In addition, XRP Ledger uses a deterministic protocol making the validation of transactions impossible to edit.
Other advantages of XRP that makes it a superior cryptocurrency over others would be the transaction speed and cost. XRP can perform 1500 transactions per second, whereas Bitcoin can do only 6 transactions per second and Ethereum can do only 15 transactions per second. Below is a chart which illustrates the same.
Source: Ripple.com
Cryptocurrencies, even Bitcoin, were created as an alternate form payment from the centralized and controlling authorities, and for it succeed it should have higher transaction speed with negligible fees. XRP checks all these boxes, whereas Bitcoin and Ethereum, on the other hand, struggle with these features as they struggle in terms of scalability.
Hodor, a contributor to the XRP community said it best in a blog:
“While Bitcoin maximalists will point to overlay software such as Lightning, there have been numerous intractable problems with using secondary software to interact with POW networks. Using a secondary network to scale doesn’t solve the problem of using a completely inadequate base-layer technology. “
Bitcoin’s transaction cost aka fees skyrocketed when the coin reached its all-time high in December 2017. The average transaction fee for Bitcoin reached a maximum of $55.
Moreover, XRP makes it easier to settle cross-border payments in a matter of seconds and also provides solutions to various remittance problems with Ripple’s blockchain solutions like xRapid, xVia, and xCurrent. With more than 200+ partnerships in over 40+ countries, Ripple and XRP are on a journey to become the world standard in payment and financial industry.
All the above-mentioned facts converge leads to a single conclusion, which is, XRP is getting more decentralized while other PoW cryptocurrencies are trying to catch up with XRP. It is only a matter of time that XRP becomes a widely accepted form of payment, overtaking Bitcoin even with its first-mover advantage.
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Source: AMB Crypto

Ripple Dispels FUDs Around Company’s ‘Hostile Takeover’, Urges Media Mature

CoinSpeaker

Ripple Dispels FUDs Around Company’s ‘Hostile Takeover’, Urges Media Mature

Brad Garlinghouse, the CEO of Ripple, declines any possibility of Ripple’s and XRP’s hostile takeover. The rumors can be officially considered refuted.

Ripple Dispels FUDs Around Company’s ‘Hostile Takeover’, Urges Media Mature

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Source: CoinSpeaker

Ripple Exec: Crypto Technology Needs Improvement Before Adoption

This year’s bear market has seen most of the top cryptocurrencies hemorrhage over 80% as they plummet from those lofty heights made almost a year ago. Some have fared better than others and Ripple’s XRP token has been one of them. Crypto technology, however, is still in need of vast improvement, at least according to the chief technology officer at the fintech firm.
Technology Before Adoption
Ripple has been one of the most pro-active blockchain companies during the downturn as it continues to sign up banking and finance partners to RippleNet and offer services based on XRP. The token itself may well be down 90% from its peak at over $3.50 but it has managed to usurp Ethereum and is now the second largest cryptocurrency on the planet.
Many have asserted that greater adoption will be the catalyst to reverse the trend and send crypto markets on the road to recovery. Ripple’s CTO, David Schwartz, however believes that the technology needs improving before that can happen.
The 2017 bull run saw crypto prices surge thousands of percent in a short space of time which led to their store of value being far greater than their potential for use. This catalyzed the inevitable selloff as adoption of a new method of money movement never actually happened.
According to Forbes some fear that the current problems cryptocurrencies face such as centralized exchanges, security and hacking concerns, and lack of regulation could put people off using them for their intended purpose.
“I don’t want the adoption to get ahead of the technology. It took a long time for the internet to get to the point where it was suitable for anybody to use it and you didn’t have to really understand the technology in great detail in order to be able to get it to work,” Schwartz said on a recent podcast.
Difficulties using cryptos such as setting up wallets and navigating often clunky exchanges may be holding back that adoption that the industry so badly needs. On the flip side, crypto offerings from the institutional heavyweights such as Bakkt and Fidelity could be the on-ramp for greater adoption.
True global adoption will only really take off when the volatility is tempered. Using a digital token to buy a coffee where the price can change by several percent by the time it is poured is not practical by any means.
 
Image from Shutterstock
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Source: New feedNewsBTC.com

Ripple’s CTO David Schwartz on the company, XRP and its ingrained advantages

Ripple’s Chief Technology Officer [CTO] David Schwartz has been an influential figure in the cryptocurrency space and in how XRP climbed up the crypto charts. In a recent interview with Internet History Podcast, the Ripple official spoke about the establishment of Ripple and how its products were planning to change the game.
Schwartz stated that the main foundation for XRP and Ripple, in general, was the idea of giving power back to the users with the motto of “everybody enforces the rules on the ledger”. He said that the very same logic gave rise to Ripple, with the name derived from the fact that data would move from a trusted node A, which will be connected to B and C and so forth. This trusted connectivity will allow information to ‘ripple’ within the ecosystem without the presence of a single trust holder.
The CTO then spoke about how Jed McCaleb had the initial idea of forming ripple with a focus on the mining aspect of Bitcoin. Schwartz said that he and McCaleb wanted to solve the issue of double spending first as it was a common problem within the crypto verse.
Double spending is basically the process of a user spending the same digital assets multiple times without any check or balance. In his words:
“We wanted to bring about solutions for the double spend problem as well as create a network that was faster and cheaper. This pushed us to create a distributed agreement protocol without Proof-of-Work and mining.”
Schwartz further added that Ripple’s core focus was to crack the problem of payments and cross-border payments in particular. He elucidated that XRP was the key to solving this as the second-largest cryptocurrency in the world is not linked to anything and in a fundamental way, makes it equally accessible to everyone on the ledger.
The Ripple bigwig also pointed out XRP’s advantage over normal fiat transfer, saying that XRP’s can be easily accessed and transferred by anyone as it is in one place, unlike fiat currencies that need to go through multiple gateways.
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Source: AMB Crypto

Ripple’s David Schwartz: Distributed ledger is important as everyone on it enforces the rules

The cryptocurrency market has been buckling under the weight of the bear for some time now which has forced a lot of popular individuals to speak about the crash as well as assure users to HODL. In a recent talk with the Internet History Podcast, David Schwartz, the Chief Technology Officer of Ripple spoke about the early days of cryptocurrencies as well as the formation of Ripple and XRP.
Schwartz, who has been called ‘Ripple’s trillion dollar man’ spoke about his initial stint with cryptography and what directed him onto the path of digital assets. He stated that he had worked on problems plaguing the internet with the key focus being on security and crowd storage.
According to him, the pressing issue was keeping data in a cloud and also keeping them secure, a concept unheard of at that time. In his words:
“Multiplying the value of information was key. We all had technology focused on transferring data but nothing related to value as such.”
Schwartz added that Ripple and XRP’s entry into the market all began when public encryption was made available to the masses. He stated that in the early days everyone was just using symmetric encryption that was not suitable for commerce. With the advent of public encryption, people in technology realized that money was the only commodity that was left to be transferred quickly and safely.
The Ripple official also spoke about early technologies that paved the way for Bitcoin to catch the public’s eye. He spoke about how concepts like RipplePay and Hash Cash laid the foundation for Ripple and Bitcoin to build upon. The CTO stated that post the arrival of Satoshi Nakamoto, users were given an ecosystem that does not require a trusted third party. According to him:
“ Unlike traditional systems, the absence of a trusted party makes it easier and more secure for data to move around. The system was built on the idea that everybody in the ecosystem enforces the rules and it’s not just one governing body.”
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Source: AMB Crypto