The Ripple (XRP) is working hard, despite the fall of 2018. In this article we give five arguments why the Ripple (XRP) may become the crypto coin for 2019.
1. Ripple (XRP) is quoted on Binance
This morning , Binance confirmed that Ripple (XRP) will soon be listed. By adding to the largest crypt exchange in the world, the trading volume will increase significantly. This communication is also an indication that the concerns about the position of Ripple and the marking as security by the SEC decrease.
2. Despite the cryptocrisis, 2018 was a good year for Ripple.
CEO Brad Garlinghouse looks back with satisfaction on 2018. He measures success in 3 ways:
Number of employees: Ripple currently employs 300 employees. That number grew strongly in 2018.
Customer growth: in 2018, Ripple grew by an average of 2 new customers per week. This despite the cryptocrisis and the difficult start in the first quarter. Therefore, no 100 new customers had been expected.
Customer distribution: there are now customers in 40 countries, spread over 6 continents. The transaction volume is steadily increasing. Catalyst Corporate Federal Credit Union has recently been added. It serves no less than 1,400 credit unions that settle payments from the US to Mexico. In addition, Ripple has completed 4 digital exchanges of assets with xRapid, including Bittrex.
3. Ripple offers real added value and works with a business strategy
Ripple as a startup has a vision, a mission and customers. The core service is that Ripple offers banks the opportunity to innovate the payment area. This makes payment solution faster and cheaper. They play in handy on the outdated technical infrastructure of banks. If you look at the automation of banks’ payment technology, you can be amazed. If you look at websites and mobile apps from the banks, they might look good. In terms of performance you see at a deeper level that the environment from the 70s. This old technology is no longer suitable for building a digital asset that makes it possible to carry out transactions quickly and cheaply as part of a global payment system.
Ripple jumped into this gap with the development of RippleNet. With the modern RippleNet network, it enables banks and financial institutions to use digital assets in this way. Because all parameters of the payment are known in advance, banks and institutions are assured of a reliable and safe environment. In addition, Ripple continues to build on the widest possible use.
4. Ripple does it 10 times better
Ripple has since gained the reputation that their innovations and services to be launched offer real added value. Ripple does this through the 10x-better strategy. They only develop something on their Blockchain as soon as they are convinced that the service improves at least 10 times compared to the current offer.
5. What are the characteristics of Ripple (XRP)
XRP is premined. All 100 billion XRP were made during the Genesis period in July 2012. The reason is that they wanted to get rid of the Proof of Work authorization method. It is believed that the need to quickly mince (and earn more) at the expense of the quality of the authorization. They wanted to counter this conflict of interest. The XRP Ledger is therefore cooperative, everyone helps to improve the system and that works because the system itself can not distribute digital coins.
According to David Schwartz, work systems such as Bitcoin must secure miners to be safe. That means that if you want to change the rules in Bitcoin, you have to drag enough miners to make your change safe. The XRP Ledger does not have this feature. It is not necessary to stimulate mining, which makes the network faster (confirmation in 5 or 6 seconds) with a higher throughput speed than 1000 transactions per second.
In addition Ripple claims that they are purely digital and therefore not linked to any jurisdiction. The latter is the question since the SEC tends to consider the Ripple as subject to the securities act.