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By now everyone, even if with little knowledge of the cryptocurrency, knows that Bitcoin (BTC) is the supreme leader of virtual currencies in the encrypted market. There is no argument that Bitcoin has a tight grip on the emerging market of virtual currencies, mainly because most cryptographic exchanges around the world use BTC as their preferred base currency.
At present, being quoted as the base currency for these exchanges is the greatest utility value of Bitcoin, thanks to the emergence of Altcoin which have surpassed all other attributes of Bitcoin.
At present, most existing altcoins are more efficient, more usable and cheaper than Bitcoin (BTC) making them preferable for our daily use. Even if the fiat couplings are slowly venturing into the Bitcoin space as a base currency, Ripple (XRP) is working without tires doing the same, but at an exponential rate.
As of now, many of the major exchanges in the market have come out clear on either of their intention to incorporate Ripple (XRP) or are already using it as a base currency. One of these exchanges is one of the significant exchanges in India, Unocoin, which recently announced through its Twitter page that they would incorporate Ripple as a base currency.
Trade crypto-to-crypto with XRP (Base Coin) on the leading crypto trading platform in India. #XRP #cryptopair #trade #exchange pic.twitter.com/o1iNEmjrV1
DCEX is the first US-based digital currency market to list $ XRP launched today. Use XRP as an exclusive base currency to facilitate faster transactions. #XRP #xrpthebase #crypto https://t.co/RES1fLuIQO
– DCEX (@dcexofficial) 31 July 2018
Next, SBI Japan, one of the most respected and relevant financial institutions in Japan, has decided to adopt Ripple (XRP) as a base torque currency that is a turning point for the success of digital technology and blockchain technology.
SBI Japan has opened huge investments amounting to billions of dollars of Ripple for trading, promising to have a huge influence on the price of Ripple in the future.
** NEW THREAD **
SBI Holdings, Inc. today released the first quarter financial results FY2018 and As I promised, I will try to highlight the most relevant aspects for the ecosystem #XRP in this thread.
I hope that # XRPcomunit will be happy.
1 / 16https: //t.co/WHkg5GWZXA pic.twitter.com/aAdkOdnkjS– XRP Research Cente r (@XrpCenter) August 1, 2018
What makes different ripple
Ripple stands out from other virtual currencies because it has a lot and something different to offer, sells its services to financial institutions and banks, helping them to move cross-border settlements more quickly, economically and safe compared to other platforms. The two services of Ripple Labs, xRapid and xCurrent are a turning point in the financial sector.
The digital currency used by xRapid is XRP that distinguishes the company and the cryptocurrency. Many refer to the company and to cryptography like Ripple, something that is not correct. XRP is to encapsulate what Ethereum is for the Ethereum blockchain. At the start of Ripple's blockchain, XRP was never designed to be used as a public currency, but rather as a settlement for financial institutions.
Ripple vs. Bitcoin
Ripple (XRP) has undoubtedly gained much respect and ground in the financial sector, becoming quoted and adopted by many organizations that indicate the potential of XRP to become a commodity of value in its own right. The market in the last year had seen the increase in the value of Ripple outperforming other virtual currencies including Bitcoin.
Given that Ripple (XRP) is mostly monitored and administered by a central body, it is quite clear that it is safer than most virtual currencies, especially those extracted.
Cryptocurrency is still a maturing market and we can expect to see many changes and innovations in the coming months and years.
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Disclaimer: This article should not be taken as and is not intended to provide investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Maxpixel.net
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