While many have been making claims about the future of Ripple, Levi, a YouTube channel with more than 98,000 subscribers went deeper to understand why Ripple’s largest holder is making such a bet on XRP’s price.
The largest individual holder of XRP is Chris Larson, co-founder of Ripple, not Brad Garlinghouse or David Schwarz. Although Larsen has stepped back from the public eye, his past statements about XRP are critical to understanding its future potential.
According to the video, key points from Chris Larsen’s speech at the crypto finance conference point to what he believes about the XRP price and why it will explode. Here they are:
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Show more +- Transaction Costs and Speed: Larsen points to XRP having the lowest transaction costs among major cryptocurrencies. It is the fastest, with about 3 seconds to settle transactions.
- Throughput and Settlement: According to him, XRP also has the highest throughput among major blockchains. Despite many transactions moving off-ledger (using payment channels), high throughput remains crucial. XRP ensures predictable settlement times (around 3 seconds consistently), unlike Bitcoin and Ethereum, which have higher variability.
- Deterministic Blockchain: XRP’s blockchain is deterministic, meaning it cannot be changed once confirmed, unlike Bitcoin’s probabilistic nature.
- Energy Consumption: XRP uses minimal energy compared to Bitcoin and Ethereum. It consumes as much energy as a small town, making it more environmentally friendly. This efficiency means resources can be invested back into the ecosystem, enhancing liquidity.
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Ripple’s Vision and Values Ripple’s creation of XRP involved meticulous consideration of transaction costs, energy efficiency, and overall system efficiency. The company is constantly innovating and appealing to a broad demographic, including entering markets like stablecoins and cross-border payments.
Major institutions are already seeing Ripple’s importance for blockchain and cryptocurrency. This is driving investment into XRP. The coin’s design addresses real-world problems, making it more likely to be adopted compared to other cryptocurrencies that may not have strong practical uses.
Technical Aspects of Ripple and XRP Ripple aims to build a global payment network allowing anyone to send any currency virtually for free. Payments are irreversible, improving efficiency and reliability for global transactions.
Ripple works with many cryptos, including Bitcoin. This allows for seamless transactions across different asset types. The Ripple wallet has been used to send XRP and BTC, which shows the network’s interoperability.
The XRP Ledger’s ability to handle various currencies and provide instant, secure transactions shows its potential value, especially for financial institutions.
The broader public, including many XRP holders, often misunderstands XRP’s true value and functionality. Educating more people about its capabilities is essential.
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