Twitter account @XRP_OX decided to reach out to the crypto community and cite some facts about the Ripple blockchain. This did not escape the attention of John Deaton, who shared this information with his followers.
The power of XRP
According to the crypto community, XRP is a very specific project. One of its defining characteristics is that it supports traditional banking, while a significant portion of cryptocurrency supporters strongly oppose it. The way the network works is often the subject of controversy. The creator of Ethereum, Vitalik Buterin, has repeatedly spoken out in opposition to Ripple’s work. Despite this, XRP has managed to create a real army around it. It seems that it was created for a reason.
An anonymous figure who can be found on Twitter under the nickname @XRP_OX has published a set of facts about XRP that strongly emphasize the robustness of this blockchain.
As the author pointed out in his statement, Ripple has not experienced any downtime in its 10 years of existence. The company has also not fallen victim to absolutely any hack. Moreover, the XRP cryptocurrency enjoys a very wide application. It is used by global financial institutions, as well as individual customers who can count on the settlement of cross-border payments in an average time of 3.8 seconds.
There is no end to the successes
As it turns out, Ripple has a product that is one of the most widely adopted in the real world. This is thanks in part to its ability to handle 1,500 transactions per second and burn just 0.0001 XRP with each operation.
This functionality is noticed not only by financial institutions, but also by countries. An example can be the cooperation that has been established with the Central Bank of Bhutan. Within this framework, the bank uses the company’s solutions in order to implement and pilot its own CBDC.
Ripple is also a member of the digital pound and digital euro foundations. Such aspects make the company extremely well-established in the market and its XRP product is steadily gaining traction.
John Deaton appreciates
The thread shared by the XRP supporter was very readily given further by the famous attorney John Deaton. Recall that he and Ripple are fighting SEC charges in an attempt to prove that XRP is not a security. This also sends a clear message to the cryptocurrency world, indicating that you need to have a solid foundation to survive. Meanwhile, despite the fact that the SEC vs. Ripple case has been going on for 19 months and has caused many problems, XRP is still among the top 10 coins with the highest market capitalization.