Apart from the downward market conditions, 2018 was undoubtedly a monumental year for the cryptocurrency industry as a whole. Investors continued to gather in this space. The hashrates have increased dramatically through important work-proof protected networks. Institutional players worthy of note and people with a high net worth have made bullish raids. Bitcoin markets have recently recorded their highest BTC trading volumes in history. Blockchain development has become LinkedIn's fastest growing job category. "What's Bitcoin?" It has established itself as the most common search term on Google. However, some argue that some cryptography projects, such as Ripple and XRP, have distinguished themselves more than others and, as such, should be praised.
Ripple boom in 2018
While many bash Ripple, a fintech startup based in San Francisco, to be in bed with the banks, the company probably did well to serve its role in the centralized financial ecosystem.
For "2018: The Year of Breakthroughs in Blockchain", created by the company's team, RippleNet, an on-demand liquidity provider for cross-border transactions, has seen unparalleled adoption. More specifically, the application now serves more than 100 institutions, covering forty countries on six continents. MercuryFX, one of the first users of the product, praised the solution in April, stating that higher levels of liquidity and faster transactions were achieved.
As reported by Ethereum World News, other users of RippleNet and xRapid were quite satisfied with what the applications provided them. Cuallix CFO explained that its customers can fulfill the promise of micro-payments with xRapid. MercuryFX doubled its support, with the CEO of the company who explained that he was quickly convinced to press the trigger to integrate xRapid after seeing the drastic decrease in transaction times and costs. Speaking of the matter, Ripple's COO partner catalyst declared:
Traditional international experience in the cable industry can not meet today's expectations in terms of price, speed and ease of use. Blockchain technology, and in particular Ripple's xRapid product, solves all three challenges simultaneously.
Even Ripple's technology has seen its fair share of adoption. Santander has launched OnePayFX, a mobile application that will offer better remittance services to nations around the world. MoneyTap went online in Japan, which allows Japanese consumers to conduct domestic transactions at no cost and almost instantly. BeeTech was able to mitigate the fees SWIFT charges for remittance transactions, reducing costs by 90%.
An American Express representative even praised Ripple's technology for its ability to drastically improve global transactions, saying:
We did a pilot. We did a test, working with Santander on a local level and with Ripple to do only transnational transactions. Cross-border transactions continue to be complex and slow. And in a few seconds, through this test, our customers were able to transfer funds in a very transparent and transparent way, on one side of the world. "
The share price action aside, XRP was finalized in 2018
What is an article focused on Ripple without XRP … right? Well, just like the entity that always uses the Led XRP register, the heritage itself has probably had a monumental year, apart from the price action, of course.
As noted by The Next Web's Hard Fork column, the popular cryptocurrency has been listed on Revolut, eToro and Uphold. While some of these platforms only provide CFDs rather than physical titles, these additions are still positive.
Xpring was launched in May, an initiative that promotes the development of the blockchain ecosystem through venture capital investment, incubation and partnership / tutoring.
XRP was recently added to Binance as a base pair, as recently confirmed by Ethereum World News.
I'm still waiting for the Coinbase list
However, there is a noticeable gap that occurred with XRP in 2018. This, if you have not already guessed it, is a quote on Coinbase – a long-standing coming in the eyes of resource advocates. The fact is that the business remains in a gray regulatory area. And until clarity is established, it is unlikely that Coinbase, which has suggested supporting XRP, will add the resource.
But some experts are starting to believe that a good faith list on the San Francisco-based platform is just around the corner.
Title Image Courtesy of Marco Verch Via Flickr