Scalability has become a central challenge that has been plaguing even the most established blockchains such as Ethereum (ETH) or Bitcoin, due to the important amount of users on their respective networks.įollowing that observation, a number of projects have been working towards improving blockchain scalability, but few of these are truly promising. Keep an eye on the latest developments in the Ripple x SEC saga! Harmony (ONE)įollowing the payment industry, Harmony ( ONE) focuses on blockchain scalability by aiming to improve transaction speed.īlockchain scalability refers to a blockchain’s ability to remain fast and efficient despite an increasing number of users. However, the project has been entangled in a years-long lawsuit with the Securities and Exchange Commission (SEC) that is accusing the XRP cryptocurrency of being a security in disguise.įor investors willing to bet that Ripple Labs will win its legal battle against the SEC, XRP, currently trading at a low valuation, could be a tremendous investment if the lawsuit’s outcome is favourable to Ripple. Without a doubt, Ripple is a promising project and XRP a cryptocurrency that has the potential to significantly revolutionise the payment industry as we know it today. This concept expressed the core idea of what is known today as decentralised finance (DeFi). This notion refers to the concept of a virtual space that would enable users to transfer value directly between one another, without requiring the intervention of unnecessary intermediaries. Ripple’s range of products is gathered under the denomination of “Internet of Value” (IoV). Each of these products holds a different role in the Ripple ecosystem and their combined use could challenge the established SWIFT transaction system used by financial institutions worldwide today. In order to do so, it developed a number of flagship products: RippleNet, XRP Ledger, RippleX, and the XRP cryptocurrency itself. Ripple aims at changing that and provides near-instant transactions worldwide, in all currencies, and at ultra-low cost.

Traditional money transfers usually take 3-5 business days to arrive and go through a number of intermediaries, who all take a commission, making the process expensive. Indeed, moving money today remains a slow and expensive process. Ripple aims at revolutionising the payment industry.

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