June 2, 2018 by Paul de Havilland
410 Views May was a big month for Ripple. The San Francisco-based company behind Ripple XRP added two remittance companies, two banks, and an exchange to its portfolio of clients.
Emboldened by the new partnerships, CEO Brad Garlinghouse took a potshot at bitcoin, labeling it the Napster of digital assets. Also read: Inside nnfee: Estimating Bitcoin Fees Via a Neural Network Join the Bitsonline Telegram channel to get the latest Bitcoin, cryptocurrency, and tech news updates: https://t.me/bitsonline Brad Garlinghouse used the platform of the invite-only Recode 2018 Code Conference in Ranchos Palos Verdes, California to compare bitcoin to Napster: “We may come to find that bitcoin is kind of the Napster of digital assets.
This is transformative technology, but Spotify and iTunes and Pandora rule the day because they engaged with regulators to solve a real problem.” Ripple’s own cryptocurrency transacts particularly quickly, boasting current capabilities of 1,500 transactions per second (TPS). According to the company’s own website, that compares with fifteen TPS for ether and between three and six for bitcoin.
The company claims to be able to scale their network up to handle twice as many transactions per second as Visa. Comparing bitcoin to Napster was audacious, especially when transaction rate sloth appears to be Garlinghouse’s primary criticism of bitcoin: “People talk about using bitcoin to buy coffee.
The average bitcoin transaction can take as much as 20 minutes. And the transaction cost is going to double the price of your coffee.” Now boasting over a hundred clients, Ripple enjoyed a successful month in terms of new signings. Read more from bitsonline.com…
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