With the market staying in its downtrend, many traders and crypto-enthusiasts equal the cryptocurrencies ecosystem value with its performance in price against a certain traditional currency. Nevertheless, if specific digital currencies are separated and analysed one by one, out of the leading coins there are those which showcase true present-undervalue for what they offer or will deliver in the future when it comes to technological potential towards finding different possible solutions in numerous different industries.
The second biggest coin by market cap is now XRP and is talked about on a daily basis by fanatics and critics alike. XRP could be at the peak of how useful it is when it comes to blockchain-cases.
At the time of writing, XRP doesn’t have a use case for everyone specifically and directly, despite this, many financial institutions might have been the catalyst for grasping and opening up to blockchain based solutions and cryptos.
The firm behind the second largest cryptocurrency, Ripple Labs has been one of the most unsettled crypto companies that have come into the crypto space of financial technology and the banking industry.
The CEO of Ripple Labs, Brad Garlinghouse noted that the companies objective of delivering speedy solutions which take down the friction inherent in completing cross-border payments to banks and financial bodies through blockchain technology by replacing SWIFT. Garlinghouse said:
“The technologies that banks use today that Swift developed decades ago really hasn’t evolved or kept up with the market…Swift said not that long ago they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree.”
It’s worth to remember this on how useful XRP is and its importance could take it and solidify its station in the financial world.
As reported by Ethereum World News, the Chief Strategist at Ripple, Cory Johnson recently pointed out that the reason behind the growth of the firm and its product throughout this year.
As Johnson says, there is a lot more behind marketing and the advertising for the company. The Chief Strategist compared the second biggest cryptocurrency with Bitcoin saying:
“Bitcoin has real technological limitations around how many transactions it can do per hour. Let alone… nobody even talks about per minute… XRP does 1500 transactions [per] second.“
What are your thoughts? Let us know what you think down below in the comments!