Ripple’s 2nd Quarter Market Report Highlights Progress, Challenges

Ripple’s 2nd Quarter Market Report Highlights Progress, Challenges
ôîòî ïîêàçàíî ñ : blokt.com

2018-8-3 15:44

Blockchain payment platform Ripple (XRP) released its 2018 second-quarter report last week, commenting on token supply, market forces, and product development. Ripple has weathered the bearish market earlier in the year well, remaining one of the top cryptos in terms of market cap.

Token Release Situation

Ripple clarified and summarized the situation regarding its token supply, which is largely related to a pre-stocked amount of XRP stored in escrow:

“In Q4 2017, Ripple locked up 55 billion XRP in a cryptographically-secured escrow account. Due to the lockup, Ripple has access to only 13 percent of the total XRP in circulation.

In Q2 2018, XRP was again released out of escrow. 3 billion XRP was released out of escrow (1 billion each month). 2.7 billion XRP was subsequently put into new escrow contracts.

The remaining 300 million XRP not returned to escrow is being used in a variety of ways to help support the XRP ecosystem.”

A Lot to Discuss

Notable in its absence was a discussion of One Pay FX, a foreign exchange Ripple-based app that was launched in April in four countries. It might be presumptuous to say that the launch was a failure. But it is interesting to note that the large media buzz upon the announcement of the app has been followed up by zero-progress reports.

Also interesting was the mention of Xpring initiative, although details were light:

“Both of these new entrants have support from Xpring, a new initiative by Ripple that will work with companies and projects run by proven entrepreneurs that are building out the XRP ecosystem.”

One of the major issues raised by investors is the gulf between the price of XRP and the progress of technical development of the Ripple platform. What many may not realize is that a large proportion of the marquee use cases for the Ripple technology would not, in fact, use the XRP token, reducing its potential future value.

Ripple’s 2nd Quarter Market Report Highlights Progress, Challenges was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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market ripple token report situation blockchain highlights

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