XRP More Decentralized Than Bitcoin According To Ripple Executives
Last August 2018, the chief technology officer at Ripple Labs in San Francisco, David Schwaltz claims that the XRP ledger is decentralized through and through which seems to contradict sentiments of other people think about the said digital asset.
He reiterated this again in a video by Ripple drop which showed him saying XRP is operationally more decentralized than Bitcoin and Ethereum.
He also states in the video that the consensus mechanism of XRP is different from both Bitcoin and Ethereum which both uses Proof-Of-Work (POW) consensus protocol.
He claims that the said protocol has not yet able to deliver on its promises of decentralization.
He also said that Bitcoin is a lot slower compared to XRP which only takes a few seconds to consummate a transaction.
The video comes after Brad Garlinghouse, Chief Executive Officer, took to Ripple’s Youtube to stress that Ripple ledger is truly decentralized and claims that it is not fundamentally false.
He adds that people around the crypto ecosystem are spreading FUD (fear, uncertainty and doubt) and there is so much misinformation about XRP and its underlying nature.
Cash App Second Most Popular Apple Application
After a decade from its release, the fintech company square has become a $29 billion digital payments giant which has become the primary choice of users to send and receive money and buy Bitcoin.
Much to its success can be attributed to the leadership of Jack Dorsey who is also the CEO of Twitter.
Just recently, the executive has revealed that Square cash or alternatively called the Cash App has become the 2nd most popular free mobile application on the Apple App Store.
He also adds that it has become one of the most widely used mobile payment applications in the U.S. market.
Although the narrative of the role of supporting Bitcoin on its application on its success might have been overhyped no one can deny that it had a vital role of attracting new generation and millennial users into its platform.
Dosey is a well known bitcoin bull who believes that there will be a currency for the internet and that currency would most probably be bitcoin.
Lightning Network Continues To Grow Amidst Market Down Turn
It is not an overstatement when we say that the current crypto winter is probably the worst ever so far.
The market conditions are so savage that many industry startups have ceased operating or have retrenched to reduce operating cost.
However, despite these challenges, there is one aspect in the market that continues to grow.
In fact it is thriving as it reaches another milestone passing 600 BTC network capacity.
This was a remarkable feat as it just passed 500 BTC just a few weeks ago.
At current rates it can now move $2.18 million at maximum capacity.
However not all are happy with the development as Ethereum’s Eric Conner, took to twitter to critique the seemingly low levels of Lightning Adoption looking at the low figures of the networks capacity.
Responding to the critique Elizabeth Stark of lightning Network reveals that the scaling system is still beta and adding new channels are intentionally-limited to facilitate a low sum of BTC.
Gold-Backed Stablecoin Launches In Iran
Ever since the U.S. have weaponize the U.S. dollars to go after sovereign states that does not agree with its policy, countries have been looking at ways how to lessen the influence of the USD in the world monetary system.
One such country is Iran which is the latest state that has been targeted by the U.S. with economic sanctions.
However, Iran is determined to find a way to sidestep the unilateral sanctions imposed by the U.S. government and the political team of Hasan Rohani, president of the country of Iran, is looking into the use of blockchain technology just to do this.
Their solution is a gold-backed stablecoin.
The name of the new stablecoin is PayMon and was developed by an Iranian company that is focused in tokenization of different asset types.
To ensure the proper functioning of the digital asset it has partnered with several banks, an Iranian exchange and an OTC trading desk.
UK Transport Provider Will Use Crypto For Loyalty Programs
A major United Kingdom public transport provider, Go-Ahead Group Plc has recently partnered with Dovu, a blockchain startup, to introduce a tokenized rewards system for rail commuters.
This was revealed by an online technology outlet a couple of days ago.
The transport company is listed on the London Stock Exchange.
It provides over a billion rail and bus journeys in the U.K. every year being the largest bus service operator in London.
It also provides services for around 30% of all U.K. train passenger journeys.
Dovu will be tasked to develop a blockchain-powered rewards platform.
The platform will use the Ethereum network as its blockchain and will use its on native token an ERC-20 token called DOV.
This token will be used to reward members for sharing their travel data as well as incentivize them for using the services of the company.
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