Why Ripple (XRP) And These Two Cryptocoins Will Dislodge Bitcoin
Ripple (XRP) – It is a saying that cryptocurrencies are a global miracle in the financial world, with Bitcoin fronting. Why many complain of Bitcoin’s heresy from day one, some forks have appeared over the years with little modifications after they copied Bitcoin repository on Github under the guise of correcting the anomaly of Bitcoin.
Yes, no doubt, bitcoin has numerous problems, and analysts say it is not the best digital coin that Millennials seek. While this is true going by available indications, some better cryptocurrencies that stand beyond Bitcoin and its forks have evolved, challenging the status quo and saving the digital world from its perceived problems. I still hold it firm that cryptocurrency is still in its embryonic stage, despite, some altcoins are worth been celebrated right from the day they were unveiled. With futuristic features, it is no joke that some of these altcoins will dislodge Bitcoin off its shield and possibly become the most sought-after cryptocurrencies as time unfolds.
The cryptoworld is becoming filled with coins, with nothing less than 1400 cryptocurrencies, it won’t be easy though, to jump into conclusion and say some altcoins will move ahead of Bitcoin without contextual backing. Well, like Google, Microsoft, and Apple, some cryptocoins will stay atop in the market no matter what. Meanwhile, those who have actively followed Bitcoin may tend to disbelieve this my summation possibly because of the price of Bitcoin in the last few years and for the fact that it is the first cryptocurrency known. However, let me state unequivocally that Bitcoin does not have a significant currency transaction in the market compared to all altcoins together. This among the following features of the below cryptocoins will make you believe further that the future of cryptocurrency does not lie in Bitcoin.
Ripple flaunted as “the world’s only enterprise blockchain solution for global payments,” it has grown to an appreciable number in market supply. Forgetting the present price of Ripple, the world has 39 billion XRP tokens in circulation but around 16 million Bitcoins. It is worth saying that Bitcoin may have a very high value, it is not appropriate as well to say that Ripple has no stake in the future of cryptocurrency.
I understand that the price of Ripple is not balanced until the time of writing this article, the same holds for nearly all cryptocurrencies. The fluctuation in price according to expert analyst may be due to forces criticising cryptocurrencies Don’t be surprised if Ripple takes the world by storm, it is because they are actually preparing ahead. You ask me what preparation?
Different banks from all over the world depend on Ripple for overseas remittance. At the time of writing this article, Woori Bank of Seoul confirmed it had tested foreign remittance using Ripple. During the process, around 37 Japanese banks also tested and confirmed the service worthwhile. Shinhan Bank of South Korea and Siam Commercial Bank of Thailand also tested the service. Every day, the capacity of Ripple is being flaunted by respected companies in financial dealing. This is attesting to the fact that Ripple has a place in the future of cryptocurrency.
To quickly remind you, telecom company IDT and Mercury, a payment provider take on to pilot xRapid (Ripple tool), with MoneyGram joining afterwards.
Many some company are rallying round Ripple and pledging to use it to perfect their cross-border transactions. Remember that not long, LianLian which is situated in China, UAE Exchange, an Abu Dhabi-based company tendered to use xCurrent also. Nothing is behind all these than the facts that Ripple is proffering cheap, and fast cross-border transaction, and liaising with financial companies to check it out.
Despite being a smart contracting platform, Cardano is attesting to the fact that scientific philosophy should not be left out while inventing overwhelming technology. The team behind Cardano says it is the first research-oriented blockchain that is peer-to-peer reviewed.
Millennials say it conforms with the third generation idea, which makes it stands beyond cryptocurrency. The platform runs metadata, side chain, decentralised app (Dapps) etc. In another side, Cardano foundation, the caretaker of Cardano and its token, ADA, is championing the solution to security threats ravaging cryptocurrencies especially the ones from quantum-computing.
In smart contracting, Cardano is trying to override Ethereum to become the number one intelligent contracting platform. The team has devised an advanced new Proof-of-Stake (POS) method called Ouroboros to add to the efficiency of its platform while making it meet the third generation blockchain demand. Cardano has intellectuals in its team, and the idea was sprouted by the Input Output Hong Kong (IOHK), blockchain development company, Cardano Foundation, and the Japanese company Emurgo.
Importantly, the idea is led by Charles Hoskinson, former co-founder of Ethereum and BitShares, attesting to the fact that this blockchain company has a very high potential to be the future of blockchain.
Although the price of Litecoin is fluctuating, but a new analysis places it as the top performing cryptocurrency in February 2018. While this may be a good step for Litecoin, its potential is still unfolding. It is a fact that Litecoin is the fifth largest digital currency in the world, and that investors are rallying support for the altcoin aplenty. What is clear is that the future of cryptocoins may be shady today, there is high possibility it resides in Litecoin.
Litecoin is developing day by day, and the platform aims to ‘process a block every 2.5 minutes compared to Bitcoin’s 10 minutes’. Litecoin has a smarter and faster transaction speed compared to Bitcoin.
While these are future predictions, with the steps taken by the team of intellectuals of the aforestated coins, there is high tendency they dislodge Bitcoin from its present state.
Yusuff Olayode Supoto Author
Yusuff Olayode Supoto is a technology enthusiast, book editor, and business developer. He has contributed to Huffington Post, Thrive Global, TheTick Times, The Independent Republic, Crypto Gazette, among other reliable platforms. Yusuff just fell in love with blockchain, and he’s doing awesome in the space. He roars on many occasions, especially when things go wrong in his country, when Manchester United loses, and when CR7 scores.