Can Ripple develop like Bitcoin in the future?
! Bitcoin is the leader of digital currency and the totem of virtual currency in the future. Let's not discuss the quantitative positioning and value of the two digital currencies for the time being. In terms of fame, Bitcoin has left Ripple more than a lot, especially with You may not have heard of Ripple before the boom in the blockchain industry, but you must have heard of Bitcoin.
Ripple is defined as a central settlement. Ripple has a circulation of 100 billion. Its current biggest trend is to continuously promote its own main project gateway protocol-Ripple, a decentralized asset transmission network protocol. At present, it has been approved and supported by more than 4,000 banks. Ripple is only used as the basic token fuel for this main project. Although theoretically speaking, the number of Ripple will decrease year by year as the transaction volume continues to expand, but its market value still cannot surpass Bitcoin.
The current market value of Bitcoin is 150 billion U.S. dollars, and the market value of Ripple is 30 billion U.S. dollars. The difference between the two is 5 times. Ripple's future development direction is not to compete with Bitcoin, but the main direction is the exchange between digital currencies, so the rise and fall of Bitcoin will have a great impact on Ripple. Ripple has not gone out of the independent trend, and there have been many competitors in terms of financial asset conversion alone, and there is no shortage of promising ones.
In the future, Ripple will continue to rise in a general trend but the range is limited. The market and circulation and the main network gateway protocol behind it are the main factors that determine the future value of Ripple. Bitcoin has also experienced nine years of ups and downs, with more than 200 deaths and it has gone all the way to today. Ripple produced in 14 years still has a long, long way to go. The future is destined to be a cashless era, and the digital currency in the field of third-party financial settlement and exchange is definitely not the only Ripple.
But in fact, most of XRP is in the hands of Ripple’s development company OpenCoin, and the current circulation is about 39 billion, because the chips are actually highly concentrated in the hands of the company, which is actually not good news. And because Ripple is not a decentralized digital currency, Ripple's fast transactions rely on its central institution, which is also a controversial area of Ripple. In addition, because OpenCoin itself is responsible for the issuance of XRP, although Ripple has a mechanism for destroying the currency, it is very likely to be over-issued in the future.
In addition, Ripple currently has three enterprise-level payment solutions: XCurrent, XRapid and XVia. XCurrent is a real-time settlement channel for financial institutions, and XRP is not applied; XRapid is a settlement channel that uses XRP, which saves cross-border companies the cost of opening frozen accounts in local banks; XVia is a standardized interface product for inter-company payments.
Most of the customers that Ripple and Ripple do choose the XCurrent solution instead of the XRapid solution. In fact, everyone is also worried about Ripple's super launch of XRP. So Ripple has its market value, but its goals are different from Bitcoin, and the development track will naturally not be the same.
It is still difficult for Ripple to be the same as Bitcoin in the future. After all, Bitcoin is the originator of digital currency, with preconceived advantages, it is difficult to surpass!
