When time of great price decline comes by, many traders and crypto-enthusiasts equal the cryptocurrencies‘ ecosystem value with its price performance against a certain traditional currency. However, if certain virtual currencies are detached and analyzed one by one, out of the leading coins there are those that showcase true present-undervalue for what they offer or will deliver in the future when it comes to technological potential towards finding various solutions in various industries.
One of the most talked about coins, the second by market capitalization, XRP [XRP] could be standing at the peak of what we can call usefulness when it comes to blockchain-cases.
Right now [maybe mid-term] it has no use case for each individual specifically and directly, however for many financial institutions it might have been the door-key towards grasping and opening up to blockchain based solutions and cryptos.
Ripple [Ripple Labs] the company behind XRP, has been one of the more disruptive crypto firms to enter the space of financial technology and the realm of banking.
It’s CEO – Brad Garlinghouse pointed out clearly the firm’s goal of delivering speedy solutions which take down friction inherent in completing cross-border transactions to banks and financial entities via block-tech by replacing SWIFT.
“The technologies that banks use today that Swift developed decades ago really hasn’t evolved or kept up with the market…Swift said not that long ago they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree.”
Just keeping in mind the above on how useful XRP is and what importance it could take and cement its position in the financial world, the demand and adoption will grow exponentially.
In a recent EWN post – it was highlighted how Cory Johnson [Ripple’s Chief Strategist] explained the reason behind the very recognizable 2018-growth of the firm and its products.
According to Mr. Johnson – there is much more behind marketing and the advertising of its operation. To describe it, the chief strategist compared the second largest digital coin with Bitcoin – the pioneer of blockchain.
“Bitcoin has real technological limitations around how many transactions it can do per hour. Let alone…nobody even talks about per minute … XRP does 1500 transactions [per] second.“
Mining is increasingly expensive … and consumes power … And also the way it [ineffectively distributes] power to the miners … presently, 80% of all bitcoin is being mined in China … XRP does not have mining.