Ripple (xrp) set to level up with Cobalt upgrade.
During this ugly downturn in the market, most of us are anticipating that the ball will hit the floor relatively soon and bounce back up. But of all the countless cryptocurrencies that exist in the market today, one continues to quietly make break-throughs and is rising up to join the 3rd generation of Blockchain tech. And of course, it's one of the most despised for its lack of decentralization.
This gem of a crypto is Ripple. I have also discussed Ripple and its native currency XRP on numerous occasions, even before it went from $0.20 to over $3.00 this past winter. I was surprised to see so many people doubt its ability to evolve into a very solid investment. It arguably had the most development, marketing, and innovative technology out of any Blockchain project in 2017, sitting side-by-side with Ethereum. So why did everyone overlook it?
It comes down to the basic fact that Ripple is a company, and a large majority of the Blockchain community doesn't like centralization. So they intentionally overlook its accomplishments. I'm not advocating that Ripple is perfect, but rather trying to point out that Ripple hasn't committed heresy, as the Blockchain zealots want you to believe. I want you to take a closer look. Why can't a centralized company (e.g. Amazon, Google, Facebook) not be a good investment opportunity?
While I have made my case in the past for Ripple as an investment opportunity, I want to highlight something new that most people have not heard about. It's a consensus algorithm update called Cobalt. On February 20th, a whitepaper was published by the Cornell University computer science repository called "Cobalt: BFT Governance in Open Networks".
The new Cobalt update will be applied to Ripple in the near future and will allow for a number of improvements. One of them is faster transactions times. Even though Ripple has been able to send value to any location in the world in 4 seconds, it will be in 1 second. That alone will be a remarkable achievement for any company and a historical moment for the remittance market. Cobalt will also help improve the reliability of the Ripple platform by preventing transmission delays. Instead, the network will simply slow down when a lack of consensus exists. This is a bit technical, but it's a big deal to financial institutions that are eye-balling Ripple.
With the potential partnership with Western Union, being one of the highest traded cryptos in South Korea, looking for a route into the Chinese economy, and being utilized by Santander to create an international money transfer app, I highly doubt Ripple is skipping a beat. If you haven't included Ripple in your investment portfolio already, I would encourage you to take a second look.