At present cryptocurrencies have raised the interests of many. Till date Ripple has been most active crypto projects with frequent updates, and the platform has been pushing harder to increase XRP adoption.
Recently, At the WeAreDevelopers conference in Berlin, CTO of Ripple David Schwartz spoke about Ripple’s frequent updates and the overall user experience through hypersonic speed remittances and lower transaction costs.
Schwartz claimed that companies like Amazon, Seagate, Airbnb, or Uber would benefit immensely by adopting XRP. He claimed that XRP will not only facilitate instant transnational payments but also obliterate bank accounts for different currencies.
“We came up with a form of federated Byzantine agreement that we call consensus that’s faster and cheaper than proof-of-work. XRP is a decentralized digital asset not connected to any jurisdiction. It moves more quickly and more cheaply than Bitcoin. And I would argue that it’s also more censorship-resistant and has some of the decentralization properties that we want. And that’s resulted in low cost, low fees and high transaction volume with low latency.”
Ripple’s blockchain has refined the federated Byzantine agreement to produce a quicker and economical sort of agreement. Thus, XRP allows a rapid, cheaper and reliable protocol. With no censorship and also the right quantities of redistributed options, XRP will enormously increase the profit margins.
Ripple’s enterprise software solutions like xCurrent, xVia, and xRapid, provide financial institutions a well standard interface platform to ease the cross-border payments. Schwartz claims that without any governing source, the platform forms a truly remarkable source of point-to-point networks,
Finally, Schwartz concluded by saying that At present, Ripple’s customers can enjoy a full scope of benefits through the crypto payment solutions.