Crypto Industry and Community Meet Trouble Halfway (Weekly Digest, Week 50)

Facebook is searching for talents, Bitmain closes its Israeli branch, Jeremy Henrickson leaves Coinbase, Gemini launches a mobile wallet for crypto traders, Opera adds a crypto wallet to its Android browser, Basis shuts down, the number of crypto users increases, Ethereum software client has published a new code, Ethereum-based Geth software releases update, UAE Exchange partners with Ripple, Revolut obtains a banking license

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Ripple CTO explains key differences between XRP Ledger and Proof-of-Work at Texas McCombs

David Schwartz, the CTO of Ripple, spoke to the News and Research Team from the McCombs School of Business at The University of Texas in Austin and explained the key differences between the XRP Ledger’s consensus and Proof-of-Work [PoW] protocols. Schwartz said that they started by building a “Federated Byzantine Agreement Model”, which was considerably different from Bitcoin’s Proof-of-Work. He said that their model had different characteristics than Bitcoin’s PoW, making it better suited for the cross-currency system. He said: “The miner who mines a particular block gets to choose every transaction in that block, so those are sort of a dictator-of-the-moment and they are completely self-interested, they are not trying to help you out, they are trying to help themselves out.” Schwartz said that on the XRP Ledger, transactions were picked by validators in an unbiased manner. If a transaction was ever deemed biased, the users would stop considering them as validators and move on to another validator. Schwartz said, “So we built the ledger from the beginning as a multi-currency ledger, and I think that we built in peer-to-peer credit and lendings to people and I think that is probably the key difference between XRP’s consensus mechanism and Bitcoin’s proof-of-work.” Explaining this in one of his blogs, David Schwartz stated: “The XRP Ledger is and always has been inherently decentralized because the users always retain the freedom to change their UNLs and the corresponding validators that they trust… the XRP Ledger is in many ways a more transactional, functional and decentralized ledger than either Bitcoin or Ethereum, which will only increase over time.” The XRP Ledger is far more superior than that of Bitcoin’s blockchain due to several facts like the transaction cost, transaction speed, and scalability. XRP Ledger can process a transaction in less than 4 seconds, while Bitcoin transactions take between several minutes to hours to complete a transaction. Moreover, XRP scales far better than Bitcoin as the XRP Ledger can handle 1,500 TPS (transactions per second) load. The post Ripple CTO explains key differences between XRP Ledger and Proof-of-Work at Texas McCombs appeared first on AMBCrypto.

Ripple (XRP) Unbridled Rally (or Dump) Will be After Status Clarification

Ripple prices flat-line below 34 cents Jake Chervinsky, a crypto lawyer, believes ongoing civil suit against Ripple will settle next year Volumes low, averaging 15 million. Eventual clarification of XRP’s status will either cause a rally or a meltdown as owners liquidate their holdings escaping SEC’s incoming oversight. At the moment, prices are stable and ranging inside a 4 cents range with caps at 34 cents. Ripple Price Analysis Fundamentals Unlike others, Ripple Inc is bogged down by regulators and difficulty of conclusively interpreting what Howey Test means for blockchain assets. It is a concern that a former SEC member, Michael Didiuk, has come forth to clarify that from his analysis, Ripple (XRP) is not security insisting that “XRP is a currency. The reason why is […] Howey test… It’s a 4-factor test – Investment of money in a common enterprise with the expectation of profits based on the efforts of others.” Should any court finding find them—Ripple Labs entangled in several civil action suites—liable then it is likely that the SEC will declare the asset security. However, the judgment is set to drag on mostly because of red-tape and SEC as a mandated agency vested with powers to declare any asset security or utility. In a tweet storm, Jake Chervinsky, a prominent crypto lawyer from Kobre & Kim said “even though we’ve been talking about the Ripple securities litigation for almost a year, the case basically just started this week, and it’ll be a very long time – another year or more – before anything exciting happens.” He continued saying, “after the consolidated complaint is filed, Ripple will *finally* have to submit a substantive response. I expect that will be a motion to dismiss, arguing that the allegations in the complaint–even if true–don’t add up to a violation of the securities laws.” Candlestick Arrangement At third, Ripple (XRP) is under pressure with tight price movements in the last month or so. It is down 1.2 percent in the previous week, and because of low volatility, our previous XRP/USD trade plan is applicable. As mentioned, our buy trigger is at 34 cents with firm supports at 30 cents. We emphasize that it is after a high volume bar prints that we can initiate longs or shorts depending on the direction of the breakout, a result of the BB squeeze in progress. Expectedly, the confirming bar must have high trade volumes above recent average of 14 million and more importantly 61 million of Feb 24. Technical Indicators As aforementioned, our anchor bar is Feb 24—61 million and even though bearish, subsequent bars—aside from those of Feb 25—had low volatility. Therefore, for trend confirmation—translating to a break above 34 cents, the breakout bar must have print above 61 million triggering a rally that could drive Ripple (XRP) above 40 cents. Chart courtesy of Trading View Ripple (XRP) Unbridled Rally (or Dump) Will be After Status Clarification was last modified: March 23rd, 2019 by Dalmas NgetichThe post Ripple (XRP) Unbridled Rally (or Dump) Will be After Status Clarification appeared first on NewsBTC.

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