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Ripple: Will Mexican regulations affect XRP’s price?

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Cryptocurrencies were made to limit or eliminate the control held by the financial system and governments over money and people. This is no conspiracy theory, Satoshi Nakamoto was very clear and vocal about this point when he first launched Bitcoin roughly a decade ago.

Crypto, the world’s governments and regulations.

As the world’s governments realize that, they are trying to exert some form or control (or at least, regulation) over the cryptosphere and blockchain technologies in general. The reasons to try to impose regulation are reasonably obvious.

First of all, digital assets, unlike their fiat cousins, are inherently global. That makes them less volatile (yes, that’s true, surprising as it may seem) and immune to local politics or national political or economic problems. The second reason is even more apparent: effective regulations make for effective tax collection on cryptocurrencies.

The Mexican Stand-off

The world is slowly but surely moving towards cryptocurrency and blockchain solutions adoption with BitCoin and XRP leading the way. As things mature in that regard, attempts to regulate digital money are appearing in several countries in the world. Mexico is the latest example, as the federal government is preparing to introduce some rules to regulate cryptocurrencies within the country.

The Official Federation Daily published an announcement by the country’s central bank (the Bank of Mexico) in which it states an intention to introduce laws that will clarify the country’s position on digital assets. Previous efforts to provide a definition for alternative coins in the country indicate that the country could classify digital currencies as property subject to taxation but not as legal tenders, like the government-issued Peso.

There is a general consensus on the advantages that blockchain technology brings to the table, but also in that there is a need to regulate it in some way, preferably a way that encourages further development and grants enough freedom so that innovation is not hampered.

Creating legislation that can balance efficacy with total control, will be a tricky proposition, though. The proposed laws should not give the government a strong hand, or enable it to stop crypto-based transactions in a terse notice. Mexico is one of the world’s remittance hubs and a country in which Ripple is working extra hard to create payment corridors with the rest of the world.

Ripple’s XRP price analysis

As we write this, Ripple’s XRP is trading in a very narrow range of four cents. This is a very solid token, it’s the world’s third largest by market capitalization, but it’s under pressure, and it hasn’t broken the 34 cent barrier, which is the critical current resistance level.

Unless something extraordinary happens, the right way to go about Ripple now is to be neutral and not to execute long positions unless the price, at last, breaks over the 34 cent barrier supported by high transaction volumes (at least 15 million on average).

That rally would confirm the previous bull run on XRP (which happened on Jan 29-30), and the one on Feb 25 (which came about because of the Coinbase listing).

If the price goes above 40 cents, then the bulls will have their day and could launch the token’s worth all the way to 60 cents by mid-Q2 this year.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

VibraVid adopts BitTorrent in a revolutionary way

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VibraVid is a project running on Tron’s blockchain. It’s powered by the BeatzCoin cryptocurrency (soon to be listed at Binance), and it’s adopting BitTorrent’s technology in amazing ways to achieve true decentralization. In this article, we tell you the full story, including context. We start at the beginning.

Tron

Tron is a third generation blockchain project. The “third generation” thing means that this blockchain should be regarded more like a programmable platform capable of running decentralized applications and smart contracts, more than being centered around a cryptocurrency, which is the case with Bitcoin and many other blockchains.

There is a currency at Tron, for sure. It’s called Tronix or TRX. But in this kind of project, the token is there to support the network and not the other way around.

Also, it’s a project with a vision: using blockchain technology to decentralize the world wide web in full. This means that, if Tron had its way, the web wouldn’t run on servers and services ruled by central authorities (Google, Facebook, YouTube, Microsoft, you know the names) but on Tron’s network and blockchain in a fully decentralized way. Does this sound overly ambitious? That’s because it is, but read on, it just could happen.

The BitTorrent affair

You probably know about BitTorrent already. It’s a P2P filesharing service that has been around for a long time already, and it’s the world’s largest decentralized network. Because BitTorrent provides the world with the content of all kinds using full decentralization, its history and values are perfectly lined up with Tron’s.

That is why the Tron Foundation bought BitTorrent a few months ago, and it’s working towards integration between Tron and BitTorrent. So, soon, BitTorrent won’t only be a vast network, but a colossal blockchain network. Tron, in turn, will become the largest blockchain or decentralized system of any kind in the world.

There’s been a lot of rumors and expectations about the precise way in which Tron and BitTorrent will come together. A cryptocurrency (BitTorrent Token, BTT) based on Tron’s token technology has already been issued, and it’s tradeable in several cryptocurrency exchanges. The exact merging mechanism is still unknown in full detail, but a Tron project VibraVid is getting proactive about it.

VibraVid

VibraVid is a digital platform that runs on Tron’s network, and it’s being developed by beatzcoin. It aims to reinvent the global marketing platform for digital content producers and consumers. It wants to transform how advertising interacts with content providers and to create new marketing strategies that will engage users thus enhancing the revenue potential for creators.

In short, VibraVid wants to combine the power of Tron, BeatzCoin, and BitTorrent to empower the artists on the internet.

BitTorrent and VibraVid

VibraVid one of the few Tron projects that are taking steps to take advantage of BitTorrent’s integration with Tron by being very creative and bold. It’s a huge technical challenge, but the project is taking it seriously and facing it head-on.

Here’s how it will work: There will be no servers at all in VibraVid. Each piece of content will become a file in BitTorrent (a torrent, in the community’s lingo). Users who want to see this piece of material will download it and become seeders. That, in turn, will provide the user with passive income as users will be rewarded with BTT tokens for seeding any kind of content (VibraVid’s contents included). But such file will be encrypted so that only members in the VibraVid community can view the content. And it’s expected that the network will be so fast that all this will work in real-time.

So no central computers, no servers, no central authorities of any kind. The BitTorrent network will be VibraVid’s server, computer, equipment, and file managing system. All within the Tron network, all decentralized, and providing means of distribution for creators as well as content for users.

We salute VibraVid’s courage to take on such a huge challenge. This is how the web will be decentralized.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

The Singapore-based crypto exchange Zipmex lists XRP, EOS, and Litecoin

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A fully licensed Singapore-based digital asset exchange, Zipmex has taken a giant stride forward with the announcement of the addition of Litecoin (LTC), Ripple (XRP) and EOS (EOS) to their trading platform. Like many other asset exchanges, Zipmex is doing all it can to make its presence felt in the crypto community, and there’s no better way than increasing numbers on the platform.

Growing the Trading Board

The addition of LCT, EOS, and XRP means that Zipmex has expanded its trading board which initially consisted of mainstay tokens Bitcoin (BTC) and (ETH). The platform will be supporting fiat pairings of Ripple, Litecoin, and EOS, too. The fiat pairings to be supported will be LTC/USD, EOS/USD, and XRP/USD.

Subsequently, the addition implies that the coins will be paired with both ETH and BTC. However, the growing asset exchange is yet to announce a detailed listing as well as deposit schedule.

Zipmex’s primary focus is to provide retail as well as institutional investors with the ability to securely invest in cryptocurrencies. Alongside the advanced trading features and the charting tools, it also provides the clients the access to the OTC market.

Therefore, it’s almost a no-brainer that the expansion of their trading will help to create a more vibrant ecosystem whereby they provide their users with a channel to sell or buy EOS, LTC, and XRP seamlessly.

In addition to the fact that Zipmex have strong local investors as well as advisors like AEC Securities, and InterVentures Asia (SEA) and solid partnerships with most established companies like EOSIOSG and Deloitte, they stand a better chance now of pushing to becoming among the best asset exchanges.

For now, the XRP, Litecoin, and EOS addition is good news for Zipmex and the respective tokens’ communities, but we can’t tell what the future holds for them – only time will tell.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

After Tron, Ripple creates $100 million fund for blockchain games developers

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Last November, Tron set 100 million USD fund for games as it launched the Arcade project. And now, Ripple has decided to follow the suits. In fact, as like Tron, with Ripple (XRP), the good news is endless.

Xpring, Ripple’s developer ecosystem initiative and Forte, a company aiming to accelerate the gaming industry’s adoption of the blockchain technology, have established a partnership to create $100 million funds to support the game developers.

Ends of the Deal

The gaming industry is rising, and it attracts millions of individuals each year, and one thing is for sure, it’s a very rich as well as a promising niche. Therefore, after Tron, Ripple has chosen to make the right bet with this one.

The report says that all the funds will originate from Ripple with Forte only managing them as it aims to achieve their objective of accelerating blockchain technology’s mainstream adoption in gaming.

Evidently, blockchain has the potential of improving the game designs as well as help the developers run superior and even more triumphant game economies. However, for most of them, it’s hard to develop as well as deploy.

Forte offers a platform that’s easy for the developers to apply blockchain into the games, increase engagement as well as monetization with the players. The fund will target game developers operating live game economies with more than 50k daily active users as well as game developers with a genuine interest in blockchain deployment.

The Right Platform for Blockchain Technology Mass Adoption

Forte is undoubtedly doing everything possible in developing effective blockchain technology platforms alongside products built for the gaming industry. Founded merely a few months ago, Forte is well placed with experts in the game platform development, publishing and game design from established companies like GarageGames, Kabam, Unity, Gen.G Esports, and Linden Lab.

Besides, its technology stack includes components that leverage open-source solutions designed in close collaboration with Ripple. The solutions include open-source Interledger Protocol, the Codius platform and use of XRP for settlements (that could be huge).

On the Broader Side

Ripple is attempting to expand its services beyond the core business of financial software, and the $100 million gaming funds represent a way of pushing their objectives. Additionally, gaming platforms integrating the Interledger Protocol could spur mass adoption of XRP that Ripple holds in plenty (allegedly).

Subsequently, blockchain adoption by video game developers represents merely a third significant use case. At the moment, most companies use blockchain for financial settlement as well as supply chain management; though it’s experimental in most of those cases.

For Forte, it’s almost inevitable that the fund could raise its profile. The company hasn’t commented on that fact yet, though.

Talking about their funding being done already, they got money from investors like Andreessen Horowitz. Consequently, Ripple and Forte have a similar belief that blockchain is the way for the gaming industry. Whether that’s true or otherwise, the future for the gaming industry looks bright.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

A crypto enthusiast claims a sharp decline in XRP interest, how true is it?

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Ripple is one of the biggest crypto-projects so far but has been the main topic of discussion in the crypto-sphere lately, and it is due to the controversies that surround it. Ripple has made significant strides in the past few years, and its innovations have been on a positive side, but despite all these, a crypto enthusiast who goes by the name Andrew commented on Twitter that the interest in Ripple and XRP is declining at an alarming rate.

Here is Andrew’s tweet:

Are People Really Losing Interest in Ripple?

The main reason for the increasing decline in Ripple (according to Andrew) wasn’t stated, but it is suggested that it may be due to the issues and controversies that surround Ripple at the moment.

It is necessary to know that; lately, Ripple has been subjected to lots of criticisms such as if XRP is a security or not (this case is currently under review in court), if Ripple is decentralized, and the issue of fake institutional investors on the blockchain.

According to reports, Ripple holds more than 60 percent of the total XRP tokens in circulation today, and the issue of centralization on Ripple’s blockchain has become a big issue – not only that – but the main topic among cryptoanalysts and enthusiasts.

However, even though these allegations linger around Ripple lately, it is doing quite well in terms of reliability when it comes to cross-border payments; no doubts, it is the most reliable service for cross-border payments. Ripple’s different tools: xRapid, xCurrent, and xVia, have experienced massive adoptions from various financial institutions today.

It is important to know that leading social investing platform ETORO launched crypto services in 32 US states and it is doing this by adopting Ripple as a payment tool for its payments.

Subsequently, Euro Exim is also one of the banks that is making use of Ripple’s technology in the United Kingdom for payments. Lastly, cryptocurrency exchange Huobi recently added XRP support to its OTC trading platform. These and many more are the recent positive happenings around Ripple.

So, it remains uncertain as to how can anyone back Andrew’s claim of XRP interest decline (that only thing that’s happening is, it’s getting more adoption chronologically). It is important also to note that XRP is known to provide liquidity for xRapid and it is massively adopted all over the world already.

XRP is widely known and has lots of supporters. More importantly, alongside their premium vision, Ripple is popular for its charities, and it recently partnered with Tipping Point to fight poverty in the Bay Area by donating $1 million.

A recent tweet by Tipping Point reads:

On Andrew’s claim, the issue is still open to debate, and lots of Twitter users have commented giving their own opinion about Ripple. A lot of them clearly supported Ripple and stated their increasing interest on the cryptocurrency.

One user said,

“Sell me your bags! I will hodl for you.”

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Ripple and Mr. Gutierrez, Ripplenet reduces transaction fees by 80%

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“Money makes the world go round.” (It should be “around”… it’s round because of gravity, but nevermind). That’s from a song from the musical Cabaret if you remember. This begs the question: if the money is not flowing around, then what happens to the world?

Well, it might just indeed stop, which is why it’s actually essential to have money flowing around the globe. Not only that, the smoother the money moves around the world, the easier it will be to keep things going for everybody, not only those who actually do have the money.

Transactions are usually just a set of numbers in a ledger. But there is a real-life story behind each one. Think about some university student who ran out of money last night and can’t have breakfast this morning until his or her parents send them some fresh money. And that’s just a smooth, not so important example.

The important thing is that transferring money is not just about money, or making the payments industry richer. It’s also about enabling people all over the world lead better lives and fulfill their potential.

A real person

In this article, let’s talk about one such person. Erick Guitierrez. He was born in Sao Paulo, Brazil and he made a radical life decision when he was 21 by moving to Ireland because he wanted to have a chance to start from scratch. Not too long after that, he moved to Porto, Portugal, because he had a good chance for a nice life there working as a developer, and he already knew the language and the culture.

After living in Porto for a year, his friends back at home urged him to work on a side project. Mr. Gutierrez was getting a huge flow of questions and interrogations about his bold move across continents. So he set out to create a website full of answers.

He called it Euro Dicas. It started as a hobby but it grew so much that by autumn 2017 it was is a full-time job already. Mr. Gutierrez and his team (yup, he had a team by then) explained to people how to move from one country to another, declare taxes, pay them, get a visa and all the detailed information you need to know to move abroad.

It wasn’t long before Mr. Gutierrez found out that his business depended on overseas income and overseas workers. He was working with six full-time employers and more than 40 freelancers from all around the world. Most of the site’s business came from Brazil.

So he needed to transfer money quickly to his collaborators but found that the high fees, the long waiting times and the unreliability inherent in the traditional way of settling international transfers (the SWIFT system) were squeezing him.

In order to get around all the problems SWIFT has, Mr. Gutierrez tried everything. Remittance services, which are supposed to remove a lot of that friction (and sometimes don’t) and international payment services.

Traditional banks only work at office hours, so Mr. Gutierrez had to choose between doing is work, or being in the phone with a bank’s agent so that those transactions could be completed.

And it was still slow and expensive. Every transfer did cost about 10% of the amount in question, and it took five days to be settled. MoneyGram and Western Union were much faster but also more expensive. And the transfer had to be initiated by somebody on Brazil.

Even as new fintech companies as PayPal and TransferWise went online, they were still not that useful. Again, because the fees were expensive, and the services weren’t great at the beginning.

When you’re an entrepreneur trying to do your own job correctly and expand your own business, this amount of lost time and money are just anathema.

BeeTech global

Then, he discovered BeeTech Global. Back then it was a Brazilian startup that offered to settle international transfers for 150,000 customers scattered all around the planet. BeeTech is one of the many remittance services that are taking advantage of blockchain technology and cryptocurrencies (more specifically, Ripple‘s blockchain, software, and cryptocurrency). Ripple’s tech has made it faster, more reliable and way cheaper to perform this kind of service for BeeTech and many others.

BeeTech allows Mr. Gutierrez to get money from Brazil twice per month on a regular schedule without worries or uncertainty. The same service allows him to pay his employers, scattered throughout Europe, Latin America, and North America to trust him to pay them in time for the work that keeps his business going.

Payments arrive in one day, the process is reliable and transparent, which are critical factors in running smoothly a business that has so many freelancers in so many other countries.

It’s allowed him to scale comfortably using the business’ capital for growing instead of paying transfer fees. That’s possible because BeeTech’s fees can be 80% or less of those collected by competitors, so Mr. Gutierrez spends from 5 to 10 Euros per month on this.

Mr. Gutierrez considers that the service enabled him to grow his business from half a million visitors in 2017 to 1.5 million, on average, per month during the current year.

The growth has been on the 30-40% range. But more importantly, having access to a good, quick and cheap payments system has allowed him to hire collaborators in many places all around the globe.

Mr. Guitierrez is just one example, but he’s representative of lots of small entrepreneurs scattered everywhere in the world whose work and businesses could benefit greatly from better efficiency in international remittances.

According to the World Bank, low and middle-income countries alone transferred $466 billion in 2017. That is equivalent to 3.3 billion meals, 263,07 million monthly bills paid, and rent for 49.9 people.

Cash flow is the eternal challenge for emerging markets. The delay in a remittance can be the difference between paying the rent in time or buying a needed medicine on time, or (like it’s been for Mr. Gutierrez) paying in time the workers that keep your business going thus keeping their trust.

BeeTech is one of the first companies in the world to adopt Ripple’s advanced blockchain systems to settle international payments. It cuts times and costs by dramatic amounts, which is more meaningful for families and small businesses who can’t afford the waiting time nor the high costs.

Just to give you an idea, BeeTech eliminated SWIFT fees and transferences in every one of its corridors and substituted them with Ripple’s advanced transfers based on the blockchain. That move alone brought fees down from $20 to $2 per transaction.

Customers like Mr. Gutierrez are saving that money, and BeeTech as thus been able to increase its transaction volumes.

Beetech (supported by Ripple’s tech) is giving Mr. Gutierrez a trusted, more affordable, faster way to settle cross-border payments. And that’s its business lifeblood to be sure.

So instead of spending endless mornings at the bank trying to cut through all the red tape included in international transfers, Mr. Gutierrez can take care of is how his business and his company are doing. He expects to have twice as many employees by next year. His goal is for Euro Dicas to cover the planet in full and help more people become global citizens.

This is what Ripple can do for Mr. Gutierrez. But also for me, and you, and the world at large. And that’s also why Ripple already has more than 200 strategic partners in banking institutions and remittance services that are learning that adopting Ripple’s blockchain, platforms and cryptocurrency (XRP) is such a good idea. Everybody pays less; everybody is happier.

Ripple is making money move around the world in the smoothest possible way. And that, in turn, will keep the world moving as well.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Ripple speed is a critical differentiator in global remittances, says Instarem CEO

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How the company was created

It all started with a friend’s bachelor’s party. No, seriously. It was in Thailand. At least that’s the story told by Instarem’s website.

Let’s see. Prajit Nanu, a former global sales director for TMF Group, also Sales & Account Management at WNS was charged with booking a resort for that party in Phuket, Thailand. For that, he had to transfer money overseas and he found it was a nightmare. It was slow, expensive, he had to cut through a lot of red tapes. It just wasn’t worth it but it was unavoidable.

That experience made Mr. Nanu join forces with Michael Bermingham, a close collaborator. Also an expert in compliance in three different continents (Europe, Asia, and North America). They had a vision together. International payments should be painless. Quick, cheap, devoid of paperwork. And that’s how Instarem was born.

A successful global remittance service

The company now operates in the United Kingdon, the USA, Lithuania, India, Malaysia, Singapore, Hong Kong, and Australia through local offices but it does business in more than 50 countries scattered all around the planet. The company is thriving.

It was the winner of the Singapore Fintech Award Festival in 2017 and declared the Outstanding Digital Cross-Border Money Transfer Service at the ET Net FintTech Awards, 2017.

What’s the firm’s secret for such success? It’s blockchain technology. More specifically, it’s Ripple‘s blockchain technology, software platforms, and cryptocurrency (XRP) which are designed exactly to get rid of almost all the friction still prevalent in the settlement of international payments.

The interview

Mr. Nanu himself explained that in a recent interview. He explained how the market has two main problems to solve: cost and speed. His own focus is in attacking the speed problem first (making international payments as quick as domestic ones). Being part of the RippleNet helps InstaReMit to expand without actively looking for new partners in other countries because every new bank or remittance service that joins the RippleNet automatically becomes a new institution available for business.

When asked why he chose to partner up with Ripple he went back to the question of speed. Ripple’s services and platforms allow his company to solve that problem in a very safe and reliable way which is paramount in his priorities.

This technology allows banks in SouthEast Asia, for instance, to send money to, say, the UK and have the transaction completed in five minutes. It’s huge progress if you take into account that the very same payment, sent through the standard channels, needs at least 24 hours (but often it can be 48 to 72) to reach its destination.

He finished saying “All our success is based on how fast our payments can be”. In other words, all their success is to be Ripple’s strategic partner, more or less. That’s a lot to say.

It seems that every financial institution in the planet who’s giving Ripple a try is falling in love with it, because it really makes things a lot easier for the banks at the same time that it improves the experience for customers because it’s not only so much faster but also so much cheaper.

Ripple has more than 200 strategic partners as we write this, and a new one is announced every week on average.

Image courtesy of PixaBay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Voyager adopts XRP, here’s what it means

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Voyager

Voyager is a U.S.-based cryptocurrency exchange platform. It is still quite a young project (it’s been online since last October only) founded by Stephen Ehrlich, Philip Eytan and Oscar Salazer (who is famous as an Uber co-founder) and Gaspard de Dreuzy.

It’s an exciting platform (more on that later) but it’s still somewhat limited as it’s available only in a handful of states within the US (Wisconsin, Pennsylvania, Montana, Missouri, Massachusetts, Kentucky, Illinois, California, and Arizona) but it’s pursuing approval in all 50 states as well as overseas.

The platform includes a mobile app, but it’s available only for Apple mobile phones. That obviously leaves the Android market out of the equation.

Another interesting feature in Voyager is that it allows you to buy cryptocurrencies using your own fiat money, by linking your card or bank account into your Voyager account which is not that common.

Most cryptocurrency exchanges in the web are crypto-to-crypto, which means that there’s not much point in joining them unless you already own some digital assets, but you can’t buy them with your local currency except for a handful of platforms.

So if you’re interested in getting a piece of the XRP action, Voyager could be precisely what you were waiting for. It’s commission-free as long as you use USD to pay for your tokens. And XRP is available at Voyager since last Wednesday.

Ripple’s XRP.

XRP is the cryptocurrency native to Ripple’s blockchain technology. It’s not meant to be a retail currency (like Bitcoin or Litecoin, etc.) but to be a means of exchange that can eliminate global transactions between banks, remittances services, and other traditional financial institutions. As such, it’s unique in the crypto verse because it’s backed up by a private company (Ripple).

Also because that company is trying to build up the coin’s value through real-life use cases and authentic demand instead of the speculative pressure that still drives the cryptocurrency market, and it’s succeeding if you take into account that XRP was the most profitable coin during 2017 (the one year in which almost every token was profitable) and it’s been growing in terms of market capitalization.

Starting to trade in XRP is quite easy if you choose Voyager. All you need to do is to download the app (Apple, only for now). Then you register, open your trader’s account and fund it. You can start with as few as USD 10.

As we write this, XRP is trading at $0.3153, and it’s ranked third by market capitalization. 41,365,634,610 XRP tokens are in currently in circulation with a billion more each month, according to the terms of Ripple’s monthly escrow contract (the company still owns most of the tokens).

So if you’re in the iPhone camp and are interested in joining the cryptosphere as an investor (not only in XRP, Voyager supports several other assets), it’s probably never been easier or cheaper. Just get the app and start doing your thing.

You can find further information at investvoyager.com if you’re a US resident. So welcome to Crypto and have happy hunting!

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

David Schwartz, CTO at Ripple, talks about the XRP ledger

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Ripple’s CTO

David Schwartz is among the most influential computer programmers in the crypto verse. He’s the chief technology officer for Ripple, which means that he’s the man charged to keep that technology going.

Very few people in the world know cryptography and blockchain technology with his degree of expertise, and the chances are that nobody else in the world understands Ripple’s technology and the XRP cryptocurrency better than he does.

He recently gave an interview about Ripple and crypto, and he has interesting things to say about what could be in the cards for Ripple this year.

Decentralization

He started by saying that, the biggest change he’s seen in XRP recently has been the increase in decentralization. This has always been a contentious point because, since this is a blockchain created and ran by a private company, many hardcore blockchain fans have accused it of not being truly decentralized.

According to Mr. Schwartz, the current Ripple network is more decentralized than Bitcoin or Ethereum (which are still considered to be something of a golden standard for almost everything in the crypto verse).

The number of validators operated by Ripple has gone significantly down which is one of the reasons why it’s more advanced in terms of true decentralization than many other projects.

Proof of work vs. consensus

He further explained that the main difference between the XRP ledger and Bitcoin or Ethereum is in the proof-of-work method they use. Ripple uses consensus instead. That makes Ripple’s network lighter and faster without sacrificing any of the reliability it must have to keep the blockchain working.

And the proof is in the pudding. Completing an operation in the XRP ledger takes about five seconds while Bitcoin can take as long as an hour.

On prospects for the rest of the year, Mr. Schwartz commented that he’d like to see more use of Ripple’s decentralized exchange, which has been one of XRP’s uses since its inception in 2012.

The conversation between Mr. Katz and the interviewer was very short but very clear and substantial. They are both obviously very optimistic about the way in which XRP and the Ripple network are performing, and they don’t seem to have any reason to believe that it will keep getting better as time goes by.

XRP is currently ranked as the third largest cryptocurrency by market capitalization, and it’s trading at $0.31887. It was the most profitable digital asset during 2017, which was a year that saw almost every single cryptocurrency reach very high prices.

Ripple has managed to create strategic partnerships with more than 200 banks, remittance services, and other financial institutions and they secure a new partner every week on average.

It’s one of the few digital assets that have a very clear use case (eliminating friction from international transfers), and even more rare, is that it’s achieved to create interest for cryptocurrencies in Wall Street and traditional financial institutions, which have been very skeptic (if not downright fearful) of all things crypto.

It’s always interesting to listen to Mr. Schwartz talking about the crypto verse in general and about Ripple in particular.

Image courtesy of Flickr.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Digital asset trading platform, Digifinex, set to list BitTorrent token BTT

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On February 22, tomorrow, the Singaporean digital asset trading platform Digifinex will be listing BTT token which is based on TRON blockchain. TRON’s CEO Justin Sun announced the important news on his official Twitter page. Sun also made it known through his tweet that the trading pairs: BTT/BTC and BTT/USDT will be made available at 12:00 on Feb 22, 2019.

TRON CEO tweeted:

Earlier, the exchange noted that it has taken screenshots of all TRX holders with a block height of 6600000 and also promised to hold an airdrop of BTT tokens among TRX holders within five working days. Digifinex has advised TRX holders to take note of their increased assets within this period.

It is important to know that in the CoinMarketCap.com ranking, Digifinex holds the third place in terms of trading volume which is 574,629,499 USD at the time of writing.

Lately, TRON’s BTT token has been getting lots of attention across many digital exchange platforms in the world today. Last month, notable crypto exchange platforms Bitfinex and Binance listed BTT tokens, and let’s not forget that BTT token works on TRON’s network. Its listing on the aforesaid platforms followed lots of airdrops for individuals who own TRX tokens.

The Singaporean exchange platform recently introduced other tokens on its platform such as ONG (Ontology Gas) and Unification (UND), in which it offered 5000 ONG worth of rewards for ONG investors during its airdrop.

At the time of writing, BTT token is green and with a market value of $0.000980 and a market capitalization of $87.80 according to coincodex.com. Over the past few weeks, its value surged by more than 4%.

More information on TRON’s BTT token

TRON’s blockchain powers BTT tokens which also operates on TRC-10 protocol. It was also built to work easily with the BitTorrent network which has more than 100 million users worldwide.

Subsequently, the primary goal of BitTorrent token is to simplify and efficiently improve the sharing of files and other vital information among BitTorrent users. The BitTorrent network itself has users (peers) that help in the sharing of critical documents.

TRON is planning to have an airdrop which follows a series of monthly airdrops that will run till February 2025. The longest airdrop in the history of crypto markets.

It is necessary also to note that, at the moment, TRON has 990 billion BitTorrent tokens and has labeled 10.1% for airdrops to TRX holders for the next six years or so. According to TRON, this airdrop will grow as time goes on.

Additionally, TRON is planning to have a new facet tagged “BitTorrent Speed” to increase the use of BitTorrent among its users. That has to do with BitTorrent users accessing files at a breakneck rate when they make BTT payments among themselves.

It implies that BitTorrent users who share files (seeds) can earn more BTT Tokens for making data available for peers. This project aims to reward financial incentives to seeds on the BitTorrent network.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.