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[NEWS BLOG]: What is XRP ?
XRP is a token used for representing the transfer of value across the Ripple Network. The main purpose of XRP is to be a mediator for other - both cryptocurrencies and fiat - exchanges. The best way to describe XRP is a ‘Joker’. Not the creepy Batman enemy, but the card that can be any other card. If you want to exchange dollars to euro, it can be dollar with dollars and euro with euros to minimize the commission. As highlighted above, the transaction cost on Ripple is $0.00001.
An interesting fact: after the transaction the amount of $0.00001 ‘disappears’ - read more.
OTHER RELATED NEWS
Halving Priced In or Not, Bitcoin’s Trajectory Bullish for 2020: Exec
In less than six months’ time, Bitcoin will see an extremely important event. Known as a “halving” or “halvening,” the number of coins issued per block to miners will get cut in half from 12.5 to 6.25, effectively meaning that BTC’s inflation rate will be cut in half in layman’s terms.
Related Reading: Don’t Withdraw Bitcoin From Binance to Privacy Wallets, User Warns
The halving mechanism, should it be kept in the code in the decades to come, will ensure that there will only be 21 million Bitcoin in existence. Ever. This ties into Satoshi Nakamoto’s seeming obsession with creating a scarce, hard - read more.
‘Off the charts’: Virus hotspots grow in middle America
DETROIT (AP) — As the United States led the world with confirmed coronavirus cases, cities such as Detroit, Chicago and New Orleans grew as hotspots Saturday, while the virus continued to pummel New York City and made its way into rural America.
Elsewhere, Russia said its borders would be fully closed as of Monday, while in parts of Africa, pandemic prevention measures took a violent turn, with Kenyan police firing tear gas and officers elsewhere seen on video hitting people with batons.
Worldwide infections surpassed the 650,000 mark with more than 30,000 deaths as new cases also stacked up quickly - read more.
Crypto Market Highly Bearish Beneath One Level; Here’s What Could Tip the Scales
The aggregated crypto market has been struggling throughout the past few weeks, with it incurring an insane selloff that was catalyzed by Bitcoin’s decline from its mid-February highs of $10,500 to lows of $3,800.
This selloff did significant damage to the market’s technical strength, leading many investors and analysts to adopt a bearish sentiment – a far cry from that seen throughout the beginning part of the year.
One prominent analyst is now noting that there is one key level that bulls must surmount if they want to propel the market higher, as a failure to do so could lead - read more.