Why You Should Be Using EOS & XRP?

Why You Should Be Using EOS & XRP?

The two most popular blockchain networks are Ethereum and XRP, these 2 can be used as an alternative to Bitcoin and the likes and they both have similar qualities but differ in their features. In this article, we will be discussing why you should be using one over the other and how you can use them for your enterprise.

XRP is a cryptocurrency whereas it uses Ripple’s technology that has been around since 2014 whereas Ethereum, invented in 2015 by Vitalik Buterin, has been around since 2013. As mentioned earlier in this post, Ethereum is the network that is being used extensively with many companies like Amazon.com, etc. The basic difference between the two is that while Ethereum uses Etherium, which means ether, Ethereum is more expensive in comparison, whereas XRP uses Tether, which means tether coin. This currency is also called xrpt or xrptone (or perhaps xrptone is better?) and is often called xrpt.

There are lots of similarities between the two, however, there are plenty of differences as well. Let’s start!

XRP

The name ‘xrpt’ in itself is misleading. It does not refer to any particular cryptocurrency nor even any specific type of cryptocurrency, rather it refers to anything related to ether. A good example would be Monero/Zcash which is another cryptocurrency that offers anonymity and digital privacy. Some cryptocurrencies require physical goods or services such as bitcoin.

Many people know about this type of network from its name. However, if you do not have anyone who has bought crypto coins from someone else then the term will not be right as those people have been already established. Also, let us imagine a scenario where an entity that wants the bitcoins cannot access them yet there are no funds that can be traced and so the only way they can prove ownership is by holding the same amount of tokens that they have bought beforehand. So if they try to hold too much amount of token and they try to claim the ownership with the same amount then there will be a dispute. If you want XRP then there must be another way to buy an account.

So let's take an analogy: Let the government say that they want all their citizens to be able to receive their money from the central bank. What they mean is that everyone is supposed to be able to use the main bank account without restrictions and so the state would not stop anyone who needs it from doing that. Now, if every person who goes into the banking branch has at least 1 ETH, which they think is a large sum of money, then it would be enough to pay for any transaction that must be carried out through the main bank account. So if you are lucky enough to find an opportunity where you can earn some extra money that way then the cost of owning XRP would make it hard for someone to get their hands on it as there would be no such restriction.

But, wait; here comes the question of what happens to all the money? Well, since every individual who owns his wallet has their number on the XRP network then it means that if he loses his wallet, then the entire network will lose, so unless he keeps it safe, he gives it to the public and that will put him at risk of losing his money and not being able to access the account again. That is why you need to keep XRP for enterprises as it is something that needs to be owned by someone else. Not just a private key, you need one of yours to trade and profit from as well, however, XRP is also good for individuals who want to buy shares on a company if they want. They do not need to possess any kind of holdings on assets. I use my personal and social accounts for trading but usually, people who choose to invest in XRP do so because they want to avoid scams and taxes that come along with investing in the market.

If XRP is good for businesses then why wouldn’t someone be using it when selling their products? Surely they are going to face loads of problems when trying to sell something online and with no other option, so why isn’t it available everywhere? Doesn’t everyone have a dream of becoming rich? Then why does not everybody sells things online? After all, everybody wants to make 10 times more than his next neighbor. And if you are selling stuff online then chances are that someone else is making 10 times more than you are. The point is, XRP is great not for everybody since it is a new asset class, therefore it requires a bit of marketing and also because of its novelty. Therefore if you are interested in getting started in using it, then you should try to sell your product via XRP that way you will be getting money and then be done.

XRP is great for big players that can afford to buy huge amounts of units and sell at low prices compared to competitors. For instance, eBay allows you to sell items you don’t wish. With an average price of $1, you would be able to sell 4 different items per sale, however, eBay has given them a lower price so far. Basically, due to its high demand, sellers can’t rest on their hands and eBay is doing everything that it can to raise the price of its products while keeping it affordable for smaller shops to join the game. This is exactly how the majority of internet users are using it right now. By doing this, they are hoping that they will gain the attention of the vast majority of sellers. A good example of this, in reality, is the fact that when Facebook bought Whatsapp the business was devastated and almost gone underground, however, Instagram rose to become bigger than ever and took over Whatsapp and it was very obvious that it was winning the competition. People started to believe that they could have all the free services that they needed and WhatsApp may be slowly dying but that is not true. The major reason that WhatsApp is thriving despite all these setbacks is because of the popularity of its platform and because of the number of users that have the app on their phones. Although the users are mainly young and have a lot of money to spend on apps to purchase apps once they see there is an option to buy apps then no other service can compete with that and hence, this is the reason why WhatsApp has grown faster than expected.

It is evident in all of this how important the ecosystem of XRP is to an organization, this means that all the entities that need this money (both consumers and producers) need the same thing which is the network of XRP as well. Without it, all will become impossible. Think of Tesla Motors, they didn’t grow overnight, but instead, they were built on top of each other. Just like every company, XRP has its drawbacks and disadvantages and hence needs to be taken into consideration before deciding whether it is for us or not. Another factor is the fact that it is still just starting and is yet to see if it will work for everyone or not. Lastly and possibly even more importantly, if you are considering XRP as your choice, then please think about doing your research as well and taking care to read all the correct information that comes up whenever you need to decide about XRP since there are a lot of misconceptions surrounding it.

Hopefully, the article was helpful and hopefully, you learned about the benefits of XRP as a cryptocurrency. Do you ever use XRP? Maybe it's your network connection for Netflix and you think that this would be better than Bitcoin though it doesn't seem much better than it seems. Or maybe you're looking for alternative ways to store your data if you need it to be more convenient. Then XRP might be a good option for you. Thanks for reading and let me know what you think of it! Keep up to date with the latest news on XRP here.