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
Russo-Ukrainian War

The Russo-Ukrainian War has been ongoing between Russia and Ukraine since February 2014.

Russia's war in Ukraine has proven almost every assumption wrong, with Europe now wondering what left is safe to assume.

Around the World

Celebrity News

> Latest News in Media

Watch It
Madonna’s most bizarre TikTok and Instagram videos of 2022 | Page Six Celebrity News
December 30, 2022
Ggk_RlohXuI
Teresa Giudice and Luis Ruelas stand by sex multiple times a day: It’s ‘normal’ | Page Six
December 30, 2022
AljKbtgRGnc
Lisa Hochstein shared video confronting Lenny Hochstein & girlfriend at Miami club #shorts | PageSix
December 30, 2022
j_JVk60r6EI
'Channel 5' Creator Andrew Callaghan Talks BTS of 'This Place Rules' Documentary Feature
December 30, 2022
dJit_YG5fjg
#brendanfraser on getting jacked to play 'George of the Jungle' after 'Airheads" with #adamsandler
December 30, 2022
bkwreE4eMRQ
Selena Gomez, Ryan Gosling and Julia Fox Top the List Of Variety's Best Red Carpet Moments Of 2022
December 29, 2022
pv2A-331cLg
Wiz Khalifa Joins Neek Bucks For Upcoming 'Shot Caller' Video | TMZ
December 26, 2022
TxkRr1jj-gk
Andrew Zimmern Says TikTok Recipes Need to Stop This Holiday Season | TMZ
December 26, 2022
DdlO88KfJoY
Top 7 WTF Moments of 2022 | TMZ
December 26, 2022
3JA-5abr6A4
Most HIGHLY ANTICIPATED Movies of 2023 | E! News
January 01, 2023
3-1K1VSRjys
22 Pop Culture Moments That Defined 2022: Link in Comments! #shorts | E! News
December 31, 2022
MNnChuudoSA
Suspect Charged With Murder in Idaho College Killings | E! News
December 31, 2022
aeonRlI5xL0
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
01
Jan
ENGLAND: Premier League
Tottenham Hotspur - Aston Villa
01
Jan
ENGLAND: Premier League
Nottingham Forest - Chelsea
01
Jan
ENGLAND: Championship
Coventry - Bristol City
01
Jan
ENGLAND: Championship
Blackburn - Cardiff City
01
Jan
ENGLAND: Championship
Huddersfield - Luton
01
Jan
ENGLAND: Championship
Millwall - Rotherham
01
Jan
ENGLAND: Championship
Blackpool - Sunderland
31
Dec
ENGLAND: Premier League
Manchester City - Everton
31
Dec
ENGLAND: Premier League
Wolves - Manchester United
31
Dec
ENGLAND: Premier League
Brighton - Arsenal
31
Dec
SPAIN: La Liga
Barcelona - Espanyol
31
Dec
SPAIN: La Liga
Real Sociedad - Osasuna
31
Dec
ENGLAND: Premier League
Bournemouth - Crystal Palace
31
Dec
ENGLAND: Premier League
Newcastle United - Leeds
31
Dec
ENGLAND: Premier League
Fulham - Southampton
31
Dec
SPAIN: La Liga
Villarreal - Valencia
30
Dec
SPAIN: La Liga
Real Valladolid - Real Madrid
30
Dec
ENGLAND: Premier League
Liverpool - Leicester City
30
Dec
ENGLAND: Championship
Birmingham - Hull City
30
Dec
ENGLAND: Championship
Stoke City - Burnley
30
Dec
ENGLAND: Championship
Norwich City - Reading
30
Dec
ENGLAND: Premier League
West Ham United - Brentford
30
Dec
ENGLAND: Championship
Swansea City - Watford
30
Dec
SPAIN: La Liga
Celta Vigo - Sevilla
30
Dec
SPAIN: La Liga
Cadiz - Almeria
30
Dec
SPAIN: La Liga
Getafe - Mallorca
29
Dec
SPAIN: La Liga
Atletico Madrid - Elche
29
Dec
ENGLAND: Championship
West Bromwich Albion - Preston NE
29
Dec
ENGLAND: Championship
Blackpool - Sheffield United
28
Dec
ENGLAND: Premier League
Leeds - Manchester City
27
Dec
ENGLAND: Premier League
Manchester United - Nottingham Forest
27
Dec
ENGLAND: Premier League
Chelsea - Bournemouth
26
Dec
ENGLAND: Premier League
Arsenal - West Ham United
26
Dec
ENGLAND: Premier League
Brentford - Tottenham Hotspur
26
Dec
ENGLAND: Premier League
Aston Villa - Liverpool
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.