XRP is the second largest virtual currency in the market after Bitcoin (BTC). During the last year, Ripple has experienced an important growth in the cryptocurrency market. Several institutions started to use Ripple’s products in order to improve their services.
The XRP and Ripple community have also expanded in the market. They are developing on top of Ripple’s protocol, launching new activities and supporting XRP.
Ripple’s Chief Strategist, Cory Johnson, believes that the growth that XRP has experienced is not propaganda, instead, he believes that XRP is Bitcoin 2.0.
-Bitcoin has some real technological limitations
-The digital asset that show fundamental use cases will develop a fundamental value
-XRP is being used more than Bitcoin being used as of today
— Steven Diep (@DiepSanh) November 23, 2018
He explained that XRP has a better technology than Bitcoin. Indeed, this is something that can be seen in the number of transactions processed per second, and the scalability that both networks have.
About Bitcoin’s limitations, he said:
“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.”
This is an impressive number compared to Bitcoin that can process between three and six transactions per second. Ethereum (ETH) is also not as fast as XRP.
With this important advantage over Bitcoin, Ripple can promote its services for cross-border payments to companies and financial enterprises all over the world. At the same time, XRP is much faster than Bitcoin. Johnson has also commented that mining activities are centralized in China and that are increasingly expensive.
XRP can be used to reduce transaction costs and times for companies that process cross-border payments. Nevertheless, he has also mentioned good things about Bitcoin. He said that developers are working on the Lightning Network (LN) and that it could help Bitcoin process a higher number of transactions in the future.
Johnson has also talked about Stellar Lumens (XLM) and how it directly competes against XRP in the market. He said that Stellar was created by one of the founders of Ripple and that Stellar’s CEO and Founder, Jed McCaleb, is a ‘super smart guy.’
Although Ripple has been expanded as well as XRP, the xRapid product was not embraced by any company upgrading to xCurrent 4.0
At the time of writing this article, XRP is the second largest virtual currency by market capitalization ($14.19 billion dollars). Each coin can be purchased for $0.3519 dollars.
In the future, Ripple could take the place that SWIFT currently has in the financial industry.