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With the highly efficient, highly scalable and low-cost Ripple block-out platform, it has been reported that billions of XRPs have been transferred in seconds with commissions of less than one cent. This demonstrates the superior characteristic of Ripple compared to other cryptocurrencies.
Ripple Superior Quality At Play
Two Ripple transactions of 2.1 billion XRP, worth about $ 740 million and 4.6 billion XRP, worth approximately $ 1.6 billion were performed in a few seconds on the Ripple platform with low transaction cost
The details were revealed via the XRPL handle on the monitor.
The first transaction tweet states :
Transaction type: Payment
Amount: 2,139,999,979 XRP
Rate: 12 drops (0,000012 XRP)
Sender: rHYTJDFrbCU1i2yCENTg9yjUrHHGaYTB4D
Sender Balance: 20.998428
Receiver: r93oSNBKuFjuKt8GxhF8VYaGzzwsNDPaX5
Recipient balance: 2.140.000.078.993
Link: https://t.co/ Fg6kbZ9nNS– XRPL Monitor (@XRPL_Monitor) 28 August 2018
And the second transaction reveals :
Transaction type: Payment
Amount: 4,666,132.964 XRP
Cost: 12 drops (0.000,012 thousand XRP)
Sender: r9kkWNia8PmpR44L7mWZn33Hpff3CCzLjA
Sender Balance: 20,980,988 thousand
Receiver: rDbWJ9C7uExThZYAwV8m6LsZ5YSX3sa6US
Receiver Balance: 4,668,133,063.993
Link: https://t.co/KenPZEeBZl [19659012] – XRPL Monitor (@XRPL_Monitor) 2 August 8, 2018
The high scalability and the low transaction cost of that transaction entity speak of the volume of Ripple.
Ripple through its demonstration of fairness gives a high scalability to transactions, and also has escalation of commissions, an integrated system that regulates the cost of transactions making it suitable for everyday payment.
Speculation on Transactions
Although these transactions as shared with the community are worthy of commendation, the topic sparked several thoughts from various people belonging to members of the community. This was attributed to the sum of the operation which is 6.7% of the ripple.
A member of the Ripple community noted that,
"It could be nothing, it could be the beginning of something, it could be exchanged by moving money around … but about 6.8 billion XRPs are just passed on the register in the last 30 minutes. Think about who / what / why? Naturally speculative, but sometimes speculations can be fun. "
One community member also noted that
" The second transaction again the source rHYTJDFrbCU1i2yCENTg9yjUrHHGaYTB4D is probably a founder as it was mentioned before years ago as part of the address block in the founder's control or Ripple.Maybe is Chris again? I have no idea of the destination r93oSNBKuFjuKt8GxhF8VYaGzzwsNDPaX5. they were virtually unused since they were activated on December 1, 2017. "
The Speculation
The exact identity of the parties involved in the transactions is not known, due to the anonymity of cryptocurrencies.
Regardless of the identity of the owners of the portfolio addresses involved, this event showed the power of the Ripple network compared to others.
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