Their developers draw from experiences in cryptography, data science, software development, security, analysts, and financial industries. Ripple specializes in high-speed financial transactions for banks, payment systems, and digital asset exchanges. “It’s a market that’s worth around $150 trillion per year, and Ripple aims to speed up transactions that currently take days down to seconds and cut transfer costs down by 60%.” “Ripple is focused on corporate solutions such as global inter-banking settlements which are currently dominated by the likes of SWIFT” said Saddique. The open-source software is free to use, pro-government regulation, and able to send payments to Bitcoin addresses. In 2013, it began linking to the Bitcoin protocol as Opencoin. The development of Ripple traces its origins back before cryptocurrencies. “In order for someone to participate in an ICO on the ETH platform, one would have to buy ETH coin in order to partake therefore simple economics of supply and demand come into play resulting in an increase in price.” The full potential for its applications is unknown. Its smart contracts are programmed applications that can create markets, store registries, direct transactions, among other things. “In 2017, $5.6b was raised via ICO's that mostly took place on the ETH platform.”Ĭryptographic smart contracts were introduced to the world by Ethereum in August 2014. “Ethereum is one of the primary platforms for ICO's and Smart Contracts” said Saddique. “ Metcalfe's Law can also be applicable."
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |