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sarahxia618

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  1. On June 16, 2016, a large-scale free blockchain course successfully closed, It was jointly organized by Qtum, Hong Kong blockchain financial giant DINO Platform, Asia's leading blockchain service provider Standard Kepler, and a joint research fellow at the Hong Kong University of Science and Technology Department of Computer Engineering. Everyone at the site discussed how technology can disrupt and lead the global economic development, and how the Qtum can be realized for commercial applications. Qtum market cap now is $904,050,004 USD and ranked 21. It has been targeting technology realization and innovation as a goal since 2016 to help realize real business value. Qtum has grown to be one of the most influential blockchain projects in the world with 7000 nodes (third in the world), all the nodes are spread over 65 counties. These achievements are inseparable from the sound and steady technological development behind it. The Qtum innovation focuses on these three points: 1. Account abstraction layer AAL - secure, flexible and scalable 2. Mutual Benefits Proof Mechanism (MPoS) - Qtum is the first running smart contract platform with PoS consensus mechanism 3. Distributed Autonomous Agreement (DGP)—Realize branchless upgrade and smart governance through smart contracts As a smart contract platform, the development vision of the Qtum x86 virtual machine is to provide a more mature development environment for smart contracts. So far, no real killer applications (except Bitcoin) have appeared in the entire industry. The reason why people don’t know and recognize the blockchain technology enough is that there are not decentralized applications that are truly meaningful. This is because developers can only use the Ethereum virtual machine to write and execute smart contracts. It can only support Solidity, a non-mainstream programming language, which limits the high threshold for the development of smart contracts. The original intention of designing the Qtum x86 virtual machine was to break this threshold and attract more developers to participate in this big ecosystem, and spawn more killer applications. So to some extent, Qtum x86 is a competition-qtum vs ethereum. Qtum steadily realizes technological advancement and thus promotes the development of a new global economy. This development process requires the development and expansion of technology by many technology developers. Therefore, qtum is willing to cooperate with more universities and technology development communities (just like ripple who also very concerned about the future development of blockchian, and it started the UBRI plan and donated $2 Million for the University of Texas Blockchain Program on Monday this week), and hopes that more and more technology developers are sincerely willing to do some hard work for the entire blockchain ecosystem. Qtum will also provide some technical support and economic support. Generally speaking, I personally think that Qtum's vision is relatively long-term. Some of it’s actions including cooperation with universities, focusing on the cultivation of future technical talents, and deepening everyone's understanding of blockchain technology are enough to illustrate this point. So I’m optimistic about it.
  2. Western Union is the world's largest remittance service agencies. It was confirmed that Western has cooperated with Ripple to conduct a blockchain trial involving XRP cryptocurrency earlier in 2018. However, the CEO of the company, Hikmet Ersek said that after this trial was conducted for six months, they have not seen any real cost savings and therefore needs to overhaul its system to use XRP for cross-border payment settlement. Ersek, said that he did not "want to kill" the blockchain trial when gave a speech at the New York Economic Club, and the Western Union would still consider using XRP to solve it if Ripple could show true efficiency to improve the existing system. Ripple is skeptical of these comments. Asheesh Birla, the company’s senior vice president of products, told Fortune that Western Union did not see significant progress because it only used XRP for 10 transactions. "If they are going to adjust production on a large scale, then maybe they will see something, but it's not surprising that they didn't see the cost savings as they only carried on 10 transactions with XRP" Birla said. At the same time, according to Reuters, Ripple seems to be retreating from its bold prediction that "tens of" banks will adopt XRP in 2019. From previous application cases, xrp can indeed complete cross-border payment in a very short period of time, and the payment cost is very low. This is one of the main reasons why ripple can stand in the financial industry. , cross-border payment has always been a major highlight and characteristic of ripple. Why does Western Union have problems in its application? If it really because the number of transactions is too small, just like Birla explained. It shows that there is still room for improvement in xrp technology or there are certain loopholes. This may, to a certain extent, cause other financial institutions to have some doubts about the ripple and ripple stock.
  3. sarahxia618

    Ripple shows the tough fate of cryptocurrency

    Ripple may be the most successful practical token we have ever heard. It ranked third after Bitcoin and Ethereum with ripple market cap now is $21,608,582,491 USD . Ripple prices have surged more than 30,000% in a year, making Ripple's co-founder and executive chairman Chris Larsen quickly become the fifth richest man in the world. Although it is developing well now, it went ups and downs all the way, which we can see from the ripple price chart to some extent. 1.How ripple became famous in the cryprocurrency market Ripple was found in 2004 by Ryan Fugger, it is a peer-to-peer payment network that focuses on debt and hypothetical credit lines. Ripple did have some fans in the early days, but due to the limitations of the centralized network, the scale was limited (it must be used by Ripple users), and before Ripple decided to change its business in 2012, it had not entered the mainstream market. According to Ripple's website, Ripple can complete payment in 4 seconds, while Ethereum takes 2 minutes, bitcoin takes more than 1 hour, and traditional systems take 3-5 days. However, ripple coin (xrp) is only a small part of Ripple's business. Ripple's most attractive place is not its tokens, but its business. RippleNet is an open source software that enables funds transfer between wallets worldwide. Ripple is just one of many currencies that can be transmitted via RippleNet. Its use efficiency is high, and Currently, it has established cooperation with more than 100 banks. However, what we should pay attention to is that banks can use RippleNet without using XRP tokens. 2. Ripple fell into the trouble of lawsuit On May 3, 2018, Ripple's investor Ryan Coffey filed a class-action lawsuit against Ripple. Coffey bought Ripple for $2.60 when the price in January 2018 soared. At the time, Coffey sold Ripple tokens for $1.30 and lost $585.for $2.60 when the price in January 2018 soared. At the time, Coffey sold Ripple tokens for $1.30 and lost $585. This does not seem to be a big fuss. Investment is inherently risky, and investment failure is normal. If every investment is guaranteed not to lose money or if the investor can recover the funds, then there will be no sellers, only buyers. Unlike ordinary situations, according to Coffey, Ripple sells unregistered securities to investors. If this is true, it is fraud. With this kind of prosecution, ordinary investors can easily go to court and get their loss back. Because this is a class action, it theoretically represents all US investors who buy ripple coins. Investors can demand that the company repay billions of dollars for compensation. This will destroy Ripple and its founders. If Coffey's lawsuit succeeds, this will be a serious blow to the cryptocurrency industry. It not only validates that many cryptocurrencies are actually securities, but also means that every exchange that sells XRP has trouble unless they are exchanges registered with the SEC or brokers using ATS. With more and more regulatory cries, the lawsuit is likely to become a key point for changing cryptocurrency games and cleaning up unregistered exchanges. If the third largest crypto currency is not safe, then those cryptocurrencies ranked behind the ripple are even less worth mentioning. In this complex and unpredictable world of cryptocurrencies, only those currencies that have experienced ups and downs and can still survive are truly powerful currencies such as bitcoin, litecoin, tether and the ripple that we are talking about today.
  4. Tether (USDT) is a typical representative of stable currencies. The stable currency database claims to stabilize prices by linking its own prices to stable assets such as the US dollar. Because of the promise of stabilizing the price, many people have called the stable currency the "Holy grail of cryptocurrency." Despite praise, history tells us over and over again that link to currency may collapse and cause widespread disaster when they do so. For example: Mexican peso crisis in 1994 Asian Financial Crisis in 1997 The Russian Financial Crisis in 1998 The Great Depression of Argentina Here I’ll show you the weakness and risk of usdt while providing some real examples at the same time to answer the question of the title. Tether (USDT) is an example of a stable currency backed by real-world collateral. It is owned and operated by Bitfinex, one of the world's largest cryptocurrency exchanges. USDT claims that tethers can be converted to US dollars in a 1:1 ratio, that means usd to usdt is 1:1. Although this seems to be a good way to achieve price stability, there are some major weaknesses in this approach: 1. We need to believe that the issuer will act honestly and will not create unreasonable collateral to the digital assets it issues. 2. We need frequent professional audits to prove the existence of collateral because real-world assets are not visible on the blockchain. 3. Since the collateral is not transparent, it is difficult to stabilize the speculation and false rumors because they have not received enough support. In addition , USDT is being accused by the cryptocurrency community for it is not supported by the U.S. dollar, and critics demand an independent audit to verify the integrity of the USDT. So far, the situation is not good. The Impact of USDT Fraud on the Cryptocurrency Market Many people think that USDT fraud will affect only a small part of the total cryptocurrency market. However, JPMorgan estimates that the ratio between the inflow of fiat currency and the market value is 1:50. Since the exchange of USDT to the US dollar is actually a legal currency inflow, every US dollar exchange rate used to purchase cryptocurrencies will increase the overall market value by US$50. If the fake USDT are issued, then the worthless USDT is used to artificially support an important part of the entire cryptocurrency market. Once the fraud has become clear, the market will thrive. So now we have seen the lack of trust in the stable currency under the support of real-world assets. Such stable currency advocates that price stability is achieved by excessively mortgaged cryptocurrencies against issued tokens. However, they are more vulnerable to price shocks than their legal counterparts. If the collateral which is enough difficult to collapse, this is very likely in an unstable cryptocurrency market, and price stability will be crushed. So you you must be cautious if you want to buy tether, do not blindly trust stable gold coins to hold the correct amount of collateral. Tether (USDT) can not hold its price at $1 if the cryptocurrency market collapses?
  5. Eric van Miltenburg, senior vice president of global operations of Ripple, said recently that Ripple’s UBRI will consider expand more universities. It first targeted universities in China and Japan as these two countries are important components of ripple’s market. Ripple has been providing blockchain support and settlement network services between banks, exchanges and companies through its network platform RippleNet. Its XRP coin has been widely adopted by banks and financial institutions because the cryptocurrency can be used as a bridge currency for other currencies. In order to nurture relevant industry's understanding of blockchain and stimulate countries' deeper understanding and innovation of blockchain technology, Ripple recently donated 50 million US dollars to 17 universities around the world to support cryptocurrency education. However, since the emergency of cryptocurrencies and blockchains, countries have taken different attitudes towards blockchain assets. Japan actively supports it, South Korea actively supervises it, and China strictly supervises it. And South Korea has completely banned domestic ICO projects since last September, so Korean domestic blockchain companies are moving their businesses to Singapore or Switzerland. In this case, an official from the US cryptocurrency company Ripple urged the government to relax its supervision of the market. In an interview with the Korea Times recently, Eric van Miltenburg said that South Korea should relax cryptocurrency regulations, but regulations should protect consumers and businesses. So should countries relax cryptocurrency regulations? What will happen to the future of the blockchain? Van Miltenburg claimed that he believes that the current cryptocurrency boom is similar to the early stage of the Internet boom in the early 21st century and states that the government needs to pay more attention to the positive effects of blockchain and cryptocurrency technologies. Van Miltenburg told the “Korea Times” in a telephone interview on June 1st: “We think there needs to be a rebound of regulatory measures to protect consumers without stealing or prohibiting innovation.” For now, the blockchain looks good, but in any case, practice is the sole criterion for testing truth. Only by placing blockchains in real applications can they be identified. So what about the results of the test? Recently I read a book entitled Blockchain+. This book gave me the answer as it mainly shows the application and future of blockchain from 50 cases around the world, including the fields of finance and technology, energy, transportation, agriculture, medical and public health, public affairs, etc,. it has presented a wide range of application prospects for blockchains. However, these application cases also show that many practical application technologies of the current blockchain are still in their infancy, and many projects have not yet landed. Just like the babies in the cradle, only if they can respect the laws of growth can they be gradually cultivated. And this requires countries to actively supervise while relaxing regulations.
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