Benjamin lawsky bitcoin exchange rates
BCH, or Bitcoin Cash, occurred as a result of a hard fork in sprung from block size conversations that split the community.
Even as hard forks though, both ETC and BCH are in the top 20 cryptocurrencies by market cap, which both shows their individual value but more importantly further increases the strength of their counterpart cryptocurrencies.
Ripple has no alternate fork, though. The then New York Superintendent of Financial Services Benjamin Lawsky created and advocated for this legislation seemingly without any concrete need. BitLicense legislation is ostensibly a useless bureaucratic roadblock aimed to slow cryptocurrency adoption, that Mr. Lawsky superficially created and then attempted to profit from. To be one of the first five institutions to receive such accreditation is nothing to laugh at, especially when it comes from the state which also houses Wall Street.
What Ripple is bringing to the table is a consensus based ledger protocol that can exchange currency in real time. A massive use case for currency exchange is remittances, a simple cash payment from one country to another typically used by expatriates to send money back home. The arduous process of shipping cash home involves two main pain points. Second is that this transfer needs to be planned in advance, since it will take a lengthy two to four days to get to destination, with countless hiccups possible by the multiple third parties in between.
Ripple aims to change that, with both real time transaction settlement and low fees. The average exchange takes 3. On a domination path to being the standard cryptocurrency based foreign exchange network, XRP is a fundamentally different token unlike bitcoin or ether. The consensus based ledger protocol is what Ripple has built its business on top of.
What does consensus based ledger protocol actually mean? When a transaction is created, it is immediately submitted to the network. Then, through a process involving many nodes, a consensus of the transaction ledger is reached and then validated. While it would seem like Bitcoin or Ethereum should be able to do what Ripple does, the core function that hashing provides in mining bitcoin or forging ether plays a completely different role for the Ripple network.
BitLicense legislation is ostensibly a useless bureaucratic roadblock aimed to slow cryptocurrency adoption, that Mr. Lawsky superficially created and then attempted to profit from. To be one of the first five institutions to receive such accreditation is nothing to laugh at, especially when it comes from the state which also houses Wall Street. What Ripple is bringing to the table is a consensus based ledger protocol that can exchange currency in real time.
A massive use case for currency exchange is remittances, a simple cash payment from one country to another typically used by expatriates to send money back home. The arduous process of shipping cash home involves two main pain points. Second is that this transfer needs to be planned in advance, since it will take a lengthy two to four days to get to destination, with countless hiccups possible by the multiple third parties in between.
Ripple aims to change that, with both real time transaction settlement and low fees. The average exchange takes 3. On a domination path to being the standard cryptocurrency based foreign exchange network, XRP is a fundamentally different token unlike bitcoin or ether. The consensus based ledger protocol is what Ripple has built its business on top of. What does consensus based ledger protocol actually mean?
When a transaction is created, it is immediately submitted to the network. Then, through a process involving many nodes, a consensus of the transaction ledger is reached and then validated. While it would seem like Bitcoin or Ethereum should be able to do what Ripple does, the core function that hashing provides in mining bitcoin or forging ether plays a completely different role for the Ripple network. Hashing is still critical to the ledger protocol, but there is no mining or forging of XRP.
To quell investor unease, Ripple will put 55 billion of these tokens into a cryptographically secured escrow by the end of Ripple will still own roughly six billion tokens in five years after this huge chunk is sold off. Ripple has an impressive list of clients already, and is using that list to continuously add bigger and more influential clients to the growing group of institutions using the network.