I still remember that last year, a coin rose more than 300 times, so that countless meat cutting leeks broke their thighs prematurely, and countless leeks that came with the wind smiled and took over. This is our hero today, XRP. I believe everyone is familiar with it. At present, it ranks the third in market value, second only to Bitcoin and Ethereum. When entering the market at the beginning of last year, I didn’t know anything and bought blindly. I thought that the top currency must be as stable as a dog, so I also ran for XRP for a while until I understood the project later.
In the past two days, Lianyi has invited Clinton to attend their meetings. Let me feel the need to talk about this matter.
Let’s take a look at the legend of Ripple, the company behind XRP.
Ripple Company has been invested by many venture capital firms in Silicon Valley along the way, including Google Ventures, Andreessen Horowitz and other first-line venture capital firms that can be named by everyone. It also cooperates with more than 100 financial institutions around the world, of which the Japanese consortium has a special preference.
But I want to pour some cold water on everyone here. These are all legendary resumes of Ripple, and Ripple coin (XRP) and Ripple are two concepts. XRP can only be counted as the second son of Lianyi’s mother who failed to live up to expectations.
XRP is not Ripple
The ecology of most cryptocurrencies is integrated with their virtual currencies. For example, BTC is an important part of Bitcoin network, ETH is an indispensable part of Ethereum ecology, but buying XRP is equivalent to buying Tencent’s qcoin. Don’t worry. Let’s see what Ripple does first.
Ripple currently has three sons, xCurrent, xRapid and xVia. Yes, there is no XRP, because it is not a complete product at all. The reason will be explained later.
The eldest son xCurrent is Ripple’s flagship product. This product helps banks to conduct cross-border settlement, with the purpose of killing SWIFT in seconds, saving time and money. In this case, banks do not need XRP at all.
The function of the second son xRapid is similar to that of the eldest son. It is the only product that can use XRP. However, banks do not seem to like this product because the price of XRP itself fluctuates greatly. If you think about it, the bank will not be willing to turn into 800000 dollars before one million dollars are transferred out.
The third child, XVia, has not been born yet, which is similar to xCurrent. It serves the payment business of enterprises and banks, and does not use XRP.
Remember the 100+financial institution partners announced by Ripple? Almost all cooperative organizations only use xCurrent, which means they don’t use XRP at all. The only one using XRP is a non bank financial institution from Mexico called Cuallix. In addition, five other pilot institutions are trying xRapid, which means there is no formal cooperation.
Here, I want to say that I was born from the same root. Why is there such a big difference in the treatment between the eldest and the second? Ruibo has so many partners and its business is developing so well, but this has nothing to do with accepting XRP currency.
XRP powder may say: How hard Ripple is, do you know! The question is whether Ripple successfully promoted xRapid will not affect its profits. As long as xCurrent is the trump card product, they can develop smoothly in the bank payment industry. But for XRP investors, the situation is different. The success of xRapid determines the intrinsic value of this currency.
