XRP is one of the most popular cryptocurrencies. While the cryptocurrency market is experiencing significant fluctuations occurring mainly from bitcoins, Ripple, lately, is creating a system. The cryptocurrency, which originates in the Protocol transactions, the blockchain, which offers a faster transaction for a lower price, now occupies the third position after Bitcoin and Ethereum.
The owners of XRP was looking forward to the start of several very important projects that are currently in the list of Ripple during several months. Some of these projects include the adoption of XRP as valid currency for cross-border payments Western Union and MoneyGram, the launch of a joint mobile application with the Bank Santander and many others. As soon as these projects bear fruit, trade will become more profitable and user-friendly XRP.
One of the reasons that the above-mentioned projects still in development are two major recent events.
1.The implementation of the algorithm Cobalt:
The Cobalt algorithm was first introduced by Ethan Macbroom, officer Ripple. The only purpose of developing this algorithm is to increase the speed of transactions. 27 Mar 2018 implementation of this algorithm was officially announced by team Ripple. Once this project is completed, the XRP owners will be able to enjoy the following features:
— High speed transactions: algorithm Cobalt would reduce the time for cross-border transactions of almost 1 second. Previously, cross-border transactions Ripple takes three to four seconds. Thus, this new algorithm will increase the speed Ripple by almost 75%, which will result in an increase in the number of transactions.
— Increased stability: according to the document Ethan Makbara, the algorithm of Cobalt will work without a global agreement of participants about a particular transaction. This algorithm will also provide the transaction even in the case of asynchronous users. This will certainly increase the reliability of the Ripple as a decentralized transaction Protocol and will make the translation even more stable
— Elimination of spot transaction: implementation of Cobalt will eliminate any stopping the transaction. Thus, the procedure of transaction, will never stop, even if there is a delay in transmission. In the worst case, the process just slows down and stops completely. This implementation Cobalt will also strengthen the financial security Ripple from hackers and malware.
2.Partnership with Hyperledger:
This partnership not only would significantly increase the price of Ripple, but also accelerated the process of improving the technology of the blockchain.
Because of the two updates mentioned above, the Ripple shows a steady tendency to increase in price over the last few days. At the time of the article the rate of the Ripple is approximately 0.48 per dollar, and total market capitalization is around 19.6 billion dollars.
Given these two important events, the future seems quite bright Ripple. Despite the fact that the whole cryptocurrency market sometimes looks like a giant bubble, Ripple, probably, it will satisfy its users in the future. The implementation of the algorithm Cobalt and partnership with Hyperledger only increase the reliability of the cryptocurrency.
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