Being one of the most famous cryptocurrencies, Ripple [XRP] together with Bitcoin and other big-shots, is building a base of trading lately despite the massive fluctuation and sometimes violent sell-off by traders. Cementing the third position by market capitalization with Ethereum and Bitcoin in front, the digital currency started its adventure as a financial solution and protocol that delivered very fast transaction completion in exchange of an understandable price.
Ripple enthusiasts are looking forward eagerly towards the launch of various projects that Ripple has set on its roadmap to take place like the acceptance of its token XRP as a currency for cross-border payments by WU – Western Union and Santander Bank launching of mobile XRP. When the projects are at their peak stasis, for XRP users trading would be even more convenient and lucrative.
One of the most impacting developments that many are eagerly waiting for to see in action is the Cobalt Algorithm that was introduced by Ethan MacBrough – Ripple employee and a very respected cryptocurrency architect. The official announcement for the implementation of the ingenious-considered algorithm was done on March 27 2018 by Ripple’s team.
The Cobalt algorithm would mitigate the time for a cross-border transaction to nearly 1 second. Previously, Ripple’s cross-border transactions used to take three to four seconds. Therefore, this new implementation would increase Ripple’s speed by nearly 75% which means the number of overall transactions would also increase accordingly. With such a gargantuan boost in a daily transaction, Ripple’s popularity to the traders is very likely to escalate further. The algorithm would accordingly increase Ripple’s reliability as a decentralized transaction platform and make it more stable.
The San-Francisco based startup Ripple [XRP] has just announced a partnership with Hyperledger – an open source initiative, marking an important step on unfolding the infrastructure for their long-term view of the Internet of Value. Both firms were very confident about the collaboration as it comes from companies that are based on the blockchain era.
Hyperledger is an industry-wide open source initiative to advance Blockchain technology, governed by the Linux Foundation. Hyperledger also tweeted the same stating, 14 organizations from India to Switzerland, BVIs to Spain are investing in open blockchain and distributed ledger technologies.
— Ripple (@Ripple) March 28, 2018