January 12, 2018
RIPPLE enjoyed a price boost in the wake of its MoneyGram deal taking a step closer to the world of mainstream finance as rival bitcoin endured another week to forget.
Ripple rising: Price boost for Ripple after MoneyGram deal but bitcoin grinds to halt
Bitcoin’s top rival, Ripple has further signalled its mainstream intent by signing a deal for transfer service MoneyGram to use XRP to speed up and reduce the cost of transferring money through the cryptocurrency’s network xRapid.
Ripple has bounced back to $2.06 after the game-changing news that South Korea is preparing a bill to ban cryptocurrency trading that affected the entire crypto family.
Ripple has a significant speed advantage over bitcoin, making it more attractive to mainstream firms like MoneyGram. A typical transaction on the XRP network takes between two to three seconds. A bitcoin transaction can take nearly an hour.
Ripple rising: Price boost for Ripple after MoneyGram deal but bitcoin grinds to halt
MoneyGram said in a statement: "XRP remains the most efficient digital asset for payments with transaction fees at just fractions of a penny, compared to bitcoin fees of about $30 per transaction.
However, bitcoin is struggling, its chief payment problem pivots around stodgy processing times and high transaction fees. Both issues don’t help in the writing of digital currencies as the next latest and greatest innovation in history books of global finance.
Earlier this week the North American Bitcoin Conference, set to be held in Miami next week, confirmed that it has stopped accepting last-minute ticket payments in bitcoin because slow transaction speeds and high fees make paying in bitcoin for bitcoin-related services tedious and inefficient.
The organisers said: "We have, and always will, accept cryptocurrencies for our conferences, up to fourteen days before the event.
"However, due to the manual inputting of data in our ticketing platforms when paid in cryptocurrencies, we decided to shut down bitcoin payments for last minute sales due to print deadlines."
Ripple rising: Price boost for Ripple after MoneyGram deal but bitcoin grinds to halt
Huge energy costs, lengthy transaction times and high processing fees for bitcoin payments have led to many merchants to rethink their decision to accept cryptocurrencies.
Microsoft said it would stop accepting bitcoin while Steam, the gaming platform, decided it no longer really worked due to processing times, high fees and incredible price volatility.
But hope is in sight.
The Lightning Network calls itself a proposed solution to the bitcoin scalability problem.
Like p-2-p torrent transfers the solution uses a network to make micropayments of digital cryptocurrency.
Ripple rising: Price boost for Ripple after MoneyGram deal but bitcoin grinds to halt
The system would be built on top of bitcoin and will let people instantaneously send and receive payments, reducing transaction fees by keeping them off the main network.
It helps bitcoin be more useful as a day-to-day currency.
In January this year, news platform HackerNoon wrote that Lightning will mark the biggest ever change to bitcoin's workings and use potential.
Author, Cory, said: “If it works, it reintroduces bitcoin as a usable daily currency, unhindered by stuck transactions and high fees. This is exciting for the adoption of cryptocurrencies as puts it back on track as a replacement for fiat.”
With bitcoin’s price remaining stagnant at $13,824 and Ripple creeping up to $2.08, lightning is expected to be ready in 2018 and wallet holders could well be in for a shock.

Related Stories
Latest News
Top news around the world
Coronavirus Disease

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus.

Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. Older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.

Around the World

Celebrity News

> Latest News in Media

Watch It
Julia Fox defends viral ‘Uncut Gems’ interview moment: ‘I was stoned’ | Page Six Celebrity News
February 17, 2022
4m-p0_-ePd8
Alexia Echevarria pushed ‘RHOM’ producers to show more of son Frankie’s recovery | Page Six
February 17, 2022
E-wTaN9NfkI
Pete Davidson rejoins Instagram amid Kanye West drama | Page Six Celebrity News
February 17, 2022
SsC3dmsI6t4
Aaron Rodgers And Shailene Woodley Reportedly Break Up | TMZ LIVE
February 17, 2022
FoErdRE8Qe4
Chet Hanks Done Talking About Famous Parents, Becoming Personal Trainer | TMZ
February 16, 2022
5_UrULOkQ6o
Woman Stabbed at Foot Locker During Nike Shoe Release
February 16, 2022
TfuXMs1JdVg
Steph's Freaky Side, "Summer House" & "Love During Lockup"
February 17, 2022
9W_raO0zlA8
Tay or Nay, Offset's Sushi Anxiety & Nick on Monogamy
February 17, 2022
PauYHpJRA6o
Kim Kardashian & North West TWINNING in Matching Pajamas | E! News
February 17, 2022
b-_Oib6R108
Adam McKay - Hollywood Walk of Fame Ceremony
February 17, 2022
tYtzsHoOZzo
Tom Holland, Mark Wahlberg, and the Cast of 'Uncharted' Talk Most Challenging Stunts
February 15, 2022
d3ksX-SKi8c
Ryan Reynolds and Walker Scobell on ‘The Adam Project’, ‘Deadpool’, and Possible ‘Star Wars’ Role
February 16, 2022
5TxJsbJr9Dk
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
Latest Events
04
May
CONCACAF CHAMPIONS LEAGUE: Playoffs
Seattle Sounders - Pumas
04
May
USA: Major League Soccer
FC Cincinnati - Toronto FC
03
May
ENGLAND: Championship
Bournemouth - Nottingham Forest
02
May
ENGLAND: Premier League
Manchester United - Brentford
02
May
ENGLAND: Championship
Fulham - Luton
02
May
SPAIN: La Liga
Getafe - Real Betis
02
May
GERMANY: Bundesliga
Bayer Leverkusen - Eintracht Frankfurt
02
May
GERMANY: Bundesliga
Borussia Monchengladbach - RB Leipzig
02
May
ITALY: Serie A
Atalanta - Salernitana
01
May
ENGLAND: Premier League
Tottenham Hotspur - Leicester City
01
May
SPAIN: La Liga
Barcelona - Mallorca
01
May
ITALY: Serie A
Roma - Bologna
01
May
ENGLAND: Premier League
West Ham United - Arsenal
01
May
ENGLAND: Premier League
Everton - Chelsea
01
May
ITALY: Serie A
Udinese - Inter Milan
01
May
ITALY: Serie A
AC Milan - Fiorentina
01
May
ITALY: Serie A
Juventus - Venezia
01
May
SPAIN: La Liga
Rayo Vallecano - Real Sociedad
30
Apr
GERMANY: Bundesliga
Mainz - Bayern Munich
30
Apr
GERMANY: Bundesliga
Borussia Dortmund - Bochum
30
Apr
ENGLAND: Premier League
Newcastle United - Liverpool
30
Apr
SPAIN: La Liga
Athletic Bilbao - Atletico Madrid
30
Apr
ENGLAND: Premier League
Leeds - Manchester City
30
Apr
SPAIN: La Liga
Real Madrid - Espanyol
30
Apr
ITALY: Serie A
Napoli - Sassuolo
28
Apr
ENGLAND: Premier League
Manchester United - Chelsea
27
Apr
CHAMPIONS LEAGUE: Semifinal
Liverpool - Villarreal
27
Apr
ITALY: Serie A
Bologna - Inter Milan
26
Apr
CHAMPIONS LEAGUE: Semifinal
Manchester City - Real Madrid
25
Apr
ITALY: Serie A
Sassuolo - Juventus
24
Apr
SPAIN: La Liga
Barcelona - Rayo Vallecano
24
Apr
ITALY: Serie A
Lazio - AC Milan
24
Apr
ENGLAND: Premier League
Liverpool - Everton
24
Apr
ENGLAND: Premier League
Chelsea - West Ham United
24
Apr
ITALY: Serie A
Empoli - Napoli
23
Apr
ENGLAND: Premier League
Brentford - Tottenham Hotspur
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
zWJ3MxW_HWA L1eLanNeZKg i1XRgbyUtOo -g9Qziqbif8 0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k
Copyright © 2020 Feedimo. All Rights Reserved.