Ripple (XRP) is one of the most famous cryptocurrencies of the moment. However, it doesn’t work only for itself. Together with Bitcoin and other successful such currencies, they are building a base of trading. This is possible even despite the violent sell-off and the massive fluctuation that characterizes these currencies.
Ripple settled on the third position when it comes to market capitalization, following just behind Ethereum and Bitcoin. It started its way into this world as a financial solution and protocol, so they promised to deliver a fast transaction completion, plus an understandable price.
If you’re a Ripple enthusiast, then you must be eager to witness the release of various projects Ripple is planning. For example, they want to set up the XRP token to be accepted in cross-border payments. They plan to release a mobile XRP, which would be used by Western Union and Santander Bank. This would mean that any trading becomes even more lucrative and convenient for people who use it.
Another major development that is to come is the Cobalt Algorithm. This was introduced by Ethan MacBrough, who is a Ripple employee, as well as a great cryptocurrency architect. The purpose of this algorithm is to reduce the time for such a cross-border transaction to almost 1 second. Before, it used to take 3 – 4 seconds. All this translates to a boost in what concerns daily transactions, as well as the cryptocurrency’s popularity.
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Furthermore, Ripple also announced they will be partnering with Hyperledger. This is an open source initiative, which is essential for the unfolding of their infrastructure on a long-term view. Both companies are quite confident in this partnership and hope to reach great results. According to a tweet by Hyperledger, 14 organizations worldwide (India, Switzerland, Spain, BVIs) are going to invest in an open blockchain, as well as the distributed ledger technologies.