Newest “The Ripple Drop” Video Reveals XRP Coin Milestones Attained Thus Far
Ripple has been questioned on many instances for lacking the notion of decentralization. At some point this year, many news outlets broke down Ripple, what it has to offer and even went as far as defining Ripple and XRP as two different components rather than being under one belt. A deeper look at how Ripple has grown, and its current stance has been explored in a web video series dubbed ‘The Ripple Drop’. Here’s a break down on what you need to take from it:
Asheesh Birla’s Take on RippleNet
The Ripple Drop episode starts off with the SVP of Product at Ripple, Asheesh Birla, who breaks down RippleNet and its products, xCurrent, xRapid and xVia. Birla shares that xVia can be used under one standard connection, which was done so to conveniently access RippleNet’s xRapid and xCurrent. In addition, he shared that:
“They [users] would use xCurrent and they would get rid of the need for the FTP server and the three-day wait to process the files.”
He also points out the ease of use behind xRapid by providing an example of Mexico, in which he deems that the country could “move money on-demand using XRP,” resulting in an instantaneous payout.
Craig DeWitt and Ripple’s Multi-Hop Feature
After Birla discussed the perks of RippleNet’s three products, Ripple’s Director of Product, Craig DeWitt opens about the platform’s “multi-hop feature,” which was supposedly a collaboration between the Ripple team and Thai bank, Siam Commercial Bank.
As per the claims made, this respective feature allows users to have an immediate ability to transact with financial instituitions, payment providers and even existing crypto wallets.
Ultimately, he affirms that the multi-hop feature eliminates the need for bilateral relationships in the following statement:
“[Multi-hop feature] is important because in today’s world you need a bunch of bilateral relationships clunkily put together in a chain in order to move money. Multi-hop makes that a thing of the past.”
Another benefit of this feature is that it allows for “multiple quotes to be returned to the user,” explains DeWitt, adding that doing so through xRapid ensures the “cheapest and fastest” method there is.
Cory Johnson and Ripple’s Q3 Markets Report
To wrap up The Ripple Drop episode, the firm’s Chief Market Strategist, Cory Johnson explores Q3 Markets Report of 2018. He primarily talks about the new milestones reached in regard to the XRP ecosystem such as its trading in Malta and hints the prospect of its adoption by investors of the very Wall Street. In particular, Johnson reveals that things are going to be more or less life-changing for Ripple due to Wall Street’s interest in its overall project. Here’s as per his quotes:
“The buying by institutions [of Wall Street] directly from the company,” is deemed the “big change.” He projects the number as being “nearly 400% quarter over quarter. These seem to be the little signs that Wall Street is moving closer and closer towards the adoption of digital assets.”