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Here is Why XRP (XRP) Is Not Going Anywhere

The crypto-markets have experienced some sideways movement in the last 24 hours with the total market capitalization still at yesterday’s levels of $253 Billion. The King of Crypto, also known as Bitcoin (BTC), is also somewhat stable at current levels of $6,400 and down 3.6% in the last 24 hours. As a matter of fact, BTC dominance in the crypto-markets has now increased to 43.4%. It seems that during times of turmoil, crypto traders prefer to hold BTC for it is deviates less than alt-coins during bear-market periods.

With respect to our favorite remittance coin of XRP (XRP), it has stood its ground in the last 24 hours and only declined by 2.30%. XRP is currently valued at $0.44. This observation of XRP being less volatile than BTC is the reason exchanges are warming up to the digital asset as a base for trading. Exchanges such as Zebpay and Unodax, now offer trading with XRP as a base. This then brings us to the first reason why XRP is not going anywhere. These exchanges have shown that the coin is here to stay by continually adding it as a base for trading. There is also SBI Virtual Currencies that is XRP-centric and promising to be the number one exchange in the world.

Another reason why XRP is not going anywhere, is the fact that the Ripple Company is now offering the much needed clarity separating the digital asset from the company of Ripple. This means that XRP’s destiny is in the hands of the XRP community. You and I will determine if the digital asset remains relevant. We love the coin, therefore, it is here to stay for the foreseeable future.

Thirdly, the crypto-verse has been considered as being in its infancy with total crypto adoption in the United States expected in the next 10 years. Yes. We are the early adopters. Therefore, we should not bulk at the current market turmoil neither worry due to the pending lawsuits against Ripple. The Ripple company can hold its own in a court of law. Besides, XRP is entirely separate from Ripple. Therefore, if the cases go against the company, XRP will still be available in the crypto markets.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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3 Amendments to Ripple’s Code are Up for Voting, Furthering Decentralization

Moving away from the current market turmoil caused from the hack at Coinrail and the investigation on 4 leading crypto-exchanges by U.S authorities, is a list of recent amendments to the Ripple’s revolutionary software known as rippled v1.0.0. The software was released on the 31st of May and is evidently one of the best works by the Ripple development team who had spent 6 years developing the code.

This means that the Ripple ledger was officially released on that day and no longer in the beta phase of testing. The new code is prime for adoption by the numerous banking and money remittance service providers that Ripple has partnered with. To quote one Reddit user known as thekiyote:

This is a fairly big deal since banks and financial institutions are fairly risk adverse and weary about using something that can potentially have bugs and security holes.

This code has since gone through 3 amendments that need to be voted on. A detailed description of each of the amendments can be found below.

  • The fix1543 amendment enforces reserved flag ranges on escrow, payment channel, and ticket transactions.
  • The fix1571 amendment changes the EscrowCreate transaction to require the Condition or FinishAfter field (or both) and also fixes a flaw that incorrectly prevents time-based Escrows from being finished in some circumstances.
  • The fix1623 amendment adds delivered amount metadata to CheckCash transactions that cash a check for a flexible amount.

Any individual or organization operating a Ripple server, should upgrade to the v1.0.0 version by Tuesday, 19th June 2018, for the amendments to work. Failure to do so, will mean that the ledger version will not be able to carry out some essential tasks.

So how does voting and decentralization work on the Ripple platform?

The Ripple Ledger works via the XRP ledger Consensus protocol. This is an algorithm that guarantees that no single entity on the platform has total operational control of the XRP Ledger. The Ripple team started decentralizing the platform as early as last May. They also updated on the same later on in October through an announcement that stated the following on the 2 phases of achieving total decentralization:

  1. A first phase where Ripple was to migrated to using validator manifests, improved validator security, and published a recommended Unique Node List (UNL) using the new Dynamic UNL infrastructure
  2. A second phase where independent validators will be added to the recommended UNL. During that time, for every two independent validators that are added in the recommended UNL, one Ripple-operated validator will be removed

These validators are the ones who will be able to vote for the changes on the XRP platform including the aforementioned amendments of the code.

More on the XRP Consensus Protocol can be found in a review that is available on the Cornell University Online Library.

In summary, and connecting the dots, Ripple’s ledger is coming together to the point where it can be considered as being a fully operational protocol that is secure and stable. What remains to be done, is the total decentralization of the platform as well as a continual checking of bugs. The latter has been accelerated by the existence of a Ripple Bug Bounty program.

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Media Industry: Ripple (XRP) At Ellen Degeneres Show With $4 Million Donation

Not the first time Ripple (XRP) will be donating huge amount into a noble course under charity, Ashton Kutcher and Ellen DeGeneres, a member of Ripple’s movement, at the a famous American television comedy talk show, ‘The Ellen DeGeneres Show’ declared that they will be giving out $4 million into Ellen DeGeneres’ Wildlife Fund.

“We wanted to show you that people are thinking about you [Ellen], so, on behalf of Ripple, we’d like to give you $4 million,” Kutcher said.

At the show, the grade-A actor, Ashton Kutcher, who is also a co-founder of A-Grade Investments, an investor at BitPay, also has an investment worth $90 million in Airbnb, and $60 million investment in Uber.

The actor who is an avid lover of Cryptocurrency, together with Ellen DeGeneres at the show earlier today mentioned that they will be donating into the wildlife which is located at Rwanda.

Highlighting the fact that he’s a stake in Ripple, the actor celebrated the proficiency of XRP.

While donating the fund, the venture capitalist, displayed the use case of Ripple in cross-border transaction at the show, using it to make instant transfer of the $4 million into Rwandan Francs.

“Now, usually people come out with a big giant check and do the ‘big giant cheque thing’, but we can transfer it into Rwandan Francs right now right here, and all you need to do is push this button,” Kutcher stated.

Ashton, relating his experience with Ellen, said they have been friends for years and she is fond of doing thing away from self-interest but for the masses.

Ellen, in her own statement, disclosed her appreciation to the entire team of Ripple, stating that she has a great love for the cryptocurrency and she’s encouraging others to imitate the action.

Meanwhile, the latest donation isn’t the first of its kind for Ripple, the Cryptocurrency, in March announced the donation of $29 million towards the enhancement of educational sector in the US. The 29 million was disbursed in XRP to an NGO in USA that aims towards improving education sector in the country.

Ripple’s participation at the show may soon have another interpretation in the cryptocurrency space i.e. that the altcoin is eyeing media industry, coupled with the fact that it recently staged a show where the great musician Snoog Dog entertained people.