Jpm Coin Not Exactly A Threat For Xrp

Ever since the esteemed JPMorgan has released its own crypto coin, crypto cynics have started dubbing the new coin as “XRP killer”. But, a closer look at the market and a thorough study on XRP would reveal that these claims are nicht wirklich funktioniert. Why so? Well, the post below explains the main reasons behind why the JPM coin can’t affect Ripple’s revered stature and value in the market.

  • XRP has been waiting for regulatory certainty

 With prestigious names like JPMorgan foraying into the crypto scene, speculations are rife on introduction of regulation in the crypto scene. JPMorgan CEO Jamie Damon has had been one of the biggest critics of cryptocurrency and its unregulated environment. Damon and the CEOs of many other such elite banks have been looking forward to the introduction of regulations in the crypto world to ensure a safe entry for them. And now that they have been entering the crypto scene, they will certainly be pressuring the American government to introduce the regulations.

 Interestingly, it will only benefit XRP as the Ripple community itself has been waiting for a regulated structure for long.

  • Competition is among banks

JPMorgan is not the only bank which has introduced its own crypto coin of late. Many other prestigious banks have followed the same already in recent times. These include Barclays, Citibank and Mitsubishi. As per the XRP cynics, the JPM coin would pose a serious competition to Ripple. But, the reality is all these banks are in cut-throat competition with each other. When they step into competition, their rivalry is with another entity (read bank) from the same industry (read banking). Thus, XRP was not really a part of this competition and hence would stay unaffected.

Finally, Ripple is backed by an extremely strong and smart team and the XRP community hardly bothers about a supposed competition from a bank crypto coin.

Bitcoin and the popularity of Cryptocurrency

Bitcoin has become one of the most important and popular cryptocurrencies in the world. It is creating a lot of fuss in the plethora of online transactions through various currencies. For the beginners in this article, we are going to talk about the basics of Bitcoin i.e. what is Bitcoin and its brief history and will touch upon the reasons for cryptocurrencies being so famous nowadays. So without much beating around the bush, let us straight get into the Artikel von Männer-Magazin.

Bitcoin is a cryptocurrency that is lately gaining a lot of traction due to the progress of technology. It, however, is pretty same from various other real-world currencies for example dollars, pounds and others based on its possible usage for purposes of the transaction to make deals of one kind or the other. However, there are some features in Bitcoin that make it stand out from the rest. For example, Bitcoin is completely decentralized, which means that no single foundation or agency, public or private does not run it or regulate it but it is regulated and maintained by volunteer coders worldwide from open sources.

It was proposed by an anonymous software engineer who identified himself with the pseudonym Satoshi Nakamoto and whose identity is still unknown as a payment system, based on electronic means for mathematical proof in the year 2008. The fundamental idea behind creating Bitcoin was to create an option which can be used as an independent mean of exchange without being regulated by any central agency and can be done in a simple, secure and safe way. This is also one reason for cryptocurrencies becoming very popular nowadays. One other reason for cryptocurrencies gaining huge traction is the rapid decline in credibility on the efficiency of paperbacks. Various global scenarios are also responsible for this particular issue.