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Banks don't have to use XRP in order to use the Ripple Payments network because it's also compatible with fiat currencies. That means the value of XRP isn't necessarily tied to the success of ...
The two banks can then handle their own conversions from XRP to a fiat currency of their choice. Therefore, unlike most cryptocurrencies, XRP has a legitimate use case that could become a source ...
The problem here is that in most cases, banks don't have to use XRP itself to use XRP's network. If a bank can use other currencies instead, it will. Nor are banks fond of holding large amounts of ...
The XRP Ledger peer-to-peer overlay network is characterized by a small-world network topology, featuring a tightly clustered structure and short paths between nodes. [12] Information systems expert Mary Lacity notes that this platform "uses much less electricity than Bitcoin—about as much electricity as it costs to run an email server".
Ripple's CEO predicted that by end of 2018 "major banks" would be using Ripple tools that made use of the XRP cryptocurrency and that by end of 2019 "dozens" of banks would be using XRP. [10] However, neither of those predictions came to pass in the specified time frame.
XRP's main target, banks, primarily use a settlement network called the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Sending money between banks domestically or across ...
The Ripple Payments network is very innovative, but there's a hitch: Banks aren't required to use XRP. They can transact in fiat currencies and still benefit from instant transfers, so the success ...
An even more fundamental issue is this: XRP doesn't need to be adopted for banks to use RippleNet. Although some specific functions require XRP to be used, the majority of RippleNet's features can ...
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