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Ripple’s David Schwartz: ‘The XRP ledger is decentralized’
Ripple is a controversial project in the crypto verse. It’s designed to make banks more efficient and profitable when it comes to settling international payments, which is opposite to the whole crypto-coin idea: to get rid of all fiat currencies and the world’s financial system.
But Ripple is successful in this regard anyway. They are bringing in more partners every week, and the XRP token is about to take over Ethereum as the world’s second-biggest in market capitalization.
Despite all that success, Ripple remains controversial (some observers would say unpopular) among crypto enthusiasts. Why? Because this is a coin that was pre-mined in full before it came live. Naturally, the owners of the coins are the people who did the mining, which, in this case, is none other than Ripple Labs.
Ripple owns more than half of the world’s supply of XRP (their native token). They have gone out of their way to ensure everybody that they are not going to try to control the coin’s supply to manipulate prices.
Ripple placed most of its tokens in an Escrow smart contract that drops a billion coins into the market every month. This ensures that supply can’t possibly be short. At the same time, they’ve kept recruiting new partners that will use XRP to settle international payments so that demand is also relevant.
But this is the cryptosphere so; a central question is still this: if Ripple owns so much of XRP, how decentralized can it possibly be?
Well, there are two ingredients to this dish. Ripple and XRP are not the same things. Ripple is a blockchain technology that supplies financial platforms for the financial world. XPR is the native token. Not the same entity at all.
Because of the Escrow that drops tokens into the market every month automatically, Ripple can’t really control XRP’s price at all. So far, XRP’s prices have been driven by speculators, but this won’t last for much longer. This is a useful coin that real banks are using in real life to make life better for their customers.
So now we come back to the central question: centralization.
Just a few weeks ago Mr. Schwartz published a white paper in which he explained in detail why Ripple is even more decentralized than Bitcoin or Ethereum.
He explained how 80% of Bitcoin mining is currently done in China (a country whose government is hostile to cryptocurrencies), and Ethereum’s computations are equally concentrated in a few places in the world. Ripple’s blockchain is distributed more evenly across the globe.
The XRP Ledger Is Decentralized
David Schwartz @JoelKatz #Ripple #XRP pic.twitter.com/AqfNDm6l1l
— ???????????????? ???????????? (@BankXRP) October 18, 2018
This doesn’t change the fact that Ripple owns most of the XRP supply. But they can’t control it, even if they wanted to. That’s what cryptography is all about. XRP is growing because it’s useful, not because of speculation.
If you read Mr. Schwartz’s white paper carefully, if you know anything at all about cryptography you’ll have to admit he’s right. The XRP ledger is, indeed, decentralized. Even more so than Bitcoin or Ethereum.
As long as Ripple’s XRP is a tool for the international financial system to be more profitable, it will remain unpopular in the cryptosphere. But that doesn’t mean it won’t go up in price.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Singapore’s Exchange Traded Fund (ETF) market has grown, offering investors diverse investment opportunities and access to different asset classes. As the market evolves, investors must navigate these uncharted waters with a clear understanding of Singapore’s ETF landscape. This article explores the trends, challenges and strategies for navigating the Singapore ETF market. To start investing in ETFs, you can visit Saxo Capital Markets PTE.
The Singaporean ETF Market: Exponential Growth
The Singapore ETF market has seen significant growth in recent years, with an increasing number of ETFs covering a wide range of asset classes and holders. different investment topics.
One of the notable trends in the Singapore ETF market is the growing diversity of available options. Investors can now choose from ETFs that track domestic and international stock indexes, bonds, commodities, and specialist sectors or themes. This diverse range of ETFs allows investors to create comprehensive portfolios tailored to their investment goals.
The growth of the ETF market in Singapore is also due to growing investor demand for low-cost, transparent, and accessible investment vehicles. ETFs offer benefits such as intraday liquidity, real-time pricing, and the ability to trade on exchanges. These characteristics have made ETFs attractive to retail and institutional investors who want exposure to different asset classes.
Regulatory Landscape and Investor Protection
The Monetary Authority of Singapore (MAS) is the…
Intending to invest in a residential or commercial property in Singapore?
When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.
In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.
HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE?
As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.
In this sense, Singapore has the Loan to Value Ratio (LTV).
The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:
- If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000.
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CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform. Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.
Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play. The desktop version is available for Windows and Mac.
“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited to KYC and fiat ON & OFF ramping,” said CoinField’s CEO…
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