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Ripple Consolidates its xRapid, xCurrent and xVia Features Under One Network; RippleNet

Ripple recently announced the consolidation of its services within RippleNet offering. The blockchain-oriented firm known for its convenient transfer features in the blockchain ecosystem made these changes to enhance service delivery to clients. The New Ripple Network Outlook A spokesman from Ripple noted that besides the change of name, the firm had sought to make […]
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Ripple Removes ‘xRapid’ ‘xCurrent’ From Website, Pushes RippleNet Instead

The Ripple website has recently removed all mentions of its previous products, xRapid, xCurrent, as well as xVia. After years of promising value stemming from the usage of those systems, Ripple pivotes to a new approach. Ripple Unifies Products Ripple now offers a single solution, RippleNet, that unites the features of all previous Ripple products. This move potentially widens the usage of the XRP digital asset, as one form of sending funds. All banks that have used the xCurrent product automatically join RippleNet. In the past, Ripple has attempted to explain the need for the XRP coin within its payment system. The xCurrent interbank payment network can function as a distributed ledger without the need for XRP. The xRapid system was meant to usher in XRP adoption. XRP, previously also known as Ripple, was either sold or airdropped to users for years. Despite the promises the asset would be useful to banks, the actual need for XRP was questioned. For that reason, Ripple, Inc. decided on a rebranding, to differentiate itself from the digital coin. XRP Struggles to Find Use Case XRP continued to exist, reaching record prices above $3. But the extremely high supply and the lack of actual real-world usage depressed the price to $0.25. Early adopters may still be quite happy, as XRP started its climb from sub-penny prices. Still, Ripple has manufactured a use case for XRP, within the ecosystem of its recently acquired MoneyGram business. XRP will be used along with on-demand liquidity to achieve fast cross-border payments. But the usage of XRP remains optional for banks. It was the banking industry that was the big bet for XRP fame. Initially, it was believed XRP could be used to displace legacy interbank systems. Based on the potential usage of the coin for interbank payments, extreme optimists saw XRP growing to an exorbitant price of $500. But after the markets realized that no actual XRP is needed to move funds between banks, the expectations receded. Ripple remains among the most well-known projects, and XRP is still the third-biggest digital asset by market capitalization. However, the project has lost its appeal as potentially disruptive of both banks and Bitcoin (BTC). The Ripple network also does not involve a classical blockchain, and relies on a series of servers ran by voluntary third parties. There are 31 active validators on the Ripple network, of which the address ripple.validator.com hosts seven servers. Thus, the Ripple network resembles more that of EOS or TRON, instead of the Bitcoin network that has expanded to between 8,900 and 10,000 nodes in the past year. What do you think about Ripple’s pivot? Share your thoughts in the comments section below! Images via Shutterstock The post Ripple Removes ‘xRapid’ ‘xCurrent’ From Website, Pushes RippleNet Instead appeared first on Bitcoinist.com.
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The Beginner’s Guide to Ripple

Ripple is a real-time gross settlement protocol, currency exchange and remittance network. Ripple Labs, the company developing Ripple, seeks to revitalize bank interoperability by providing an interledger infrastructure (xCurrent), a liquidity layer for fiat currencies (XRP-powered xRapid), and an API to access these services (xVia)

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Singapore: MAS Partners JP Morgan to Develop Blockchain-Enabled Payments Network

Singapore’s financial regulator, the Monetary Authority of Singapore (MAS) has entered into a partnership with Wall Street titan JP Morgan Chase and Temasek to develop a distributed ledger technology-powered (DLT) multi-currency payments network. This, according to a report by Finance Magnets, November 11, 2019. Part of Project Ubin In a bid to propel the useRead MoreRead More. The post by Aisshwarya Tiwari appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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Omise To Offer PayNow Payment Options In Singapore; Faster And More Secure Transactions

Asia-focused Payment Gateway, Omise announced that it will be offering PayNow to customers in Singapore reports Finance Magnates. Customers, namely small and medium-sized e-commerce businesses can expect this addition to take place sometime next month. PayNow was created by DBS, Development Bank of Singapore. Their foundation involves leveraging digital technologies to ensure that customers are […]
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Ethereum Classic Price Analysis: ETC/USD Marks Tremendous Fall and Touches $4.8

ETC Price Analysis – November 11 Ethereum Classic has dropped below the level from where it started yesterday at $4.96. There is no sign of improvement in the coin as traders may close the day with a loss. ETC/USD Market Key Levels: Resistance levels: $5.5, $6.0, $6.5 Support levels: $4.5, $4.0, $3.5 ETCUSD – Daily Chart The price of the Ethereum Classic was bitten by the bear. The coin is currently experiencing a price drop. Traders were expecting a lot from the coin, although November 4 to 7 reflected an improvement in ETC prices. The price is currently moving between the 9-day and 21-day MA and exchanging hands at $4.90 which is yet to break out to the upside or downside. Furthermore, a bearish drop may continue to roll the market down to $4.5, $4.0 and $3.5 support levels while possible bullish surge may drive the market to $5.2 level, testing the upper channel boundary. Above the channel, $5.5, $6.0 and $6.5 may further provide resistance levels for the market. Although, the stochastic RSI is making an attempt to cross into the oversold zone and staying there would cause the coin to remain in the bearish mode. ETC/BTC Market Against Bitcoin, the recent price decline placed the Ethereum Classic pair in a downward trend after witnessing a bullish price action for a few days. Now, indicating an undecided market, the price action is still trading above the moving averages of 9-day and 21-day. Looking at a long-term bear market, the 535 SAT, 525 SAT and 515 SAT could provide support levels for the next selling pressure. ETCBTC – Daily Chart More so, a few days ago, the ETC price started falling from 570 SAT to 557 SAT following a sudden rise in the downtrend and if the price drop further, we may say that the sellers have returned to the market after a little while. However, if the 563 SAT can act as a solid line of defense against any further downtrend; Buy pressure at 585 SAT, 595 SAT and 605 SAT resistance levels can be expected. The stochastic RSI is in the overbought zone. Please note: Cryptovibes.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results. The post Ethereum Classic Price Analysis: ETC/USD Marks Tremendous Fall and Touches $4.8 appeared first on Cryptovibes.com - Daily Cryptocurrency and FX News.
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JPMorgan, Monetary Authority of Singapore to Build Multi-Currency Cross-Border Payment on Blockchain

Singapore’s central bank and financial regulatory authority, the Monetary Authority of Singapore (MAS) along with state-owned enterprise Temasek Holdings, and the largest bank in the US, JPMorgan Chase are working to develop a prototype based on blockchain that will allow payments in multiple currencies on the same network, reported Business Times. MAS claims the reason […]
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