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XRP Exchange Launched by Xago As Ripple Continues Global Expansion

  • Yuri Molchan
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    XRP gateway and exchange has been released by a South African startup Xago, making it another important Ripple collaboration recently

XRP Exchange Launched by Xago As Ripple Continues Global Expansion
Cover image via u.today
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On October 9, the Xago fintech firm located in Cape Town spread the word about launching a Ripple gateway and an exchange in South Africa. The exchange is based on RippleNet and it allows trading, sending and receiving XRP only – another milestone for Ripple that keeps its aggressive international expansion.

 

Xago works to increase XRP liquidity in South Africa

The new crypto exchange set up by Xago chases the goal of increasing XRP utility in South Africa by enabling retail customers and businesses to trade XRP and use the Ripple chain. Instant payments in XRP allow reducing the token’s volatility and add more liquidity to it.

When commenting on the choice of XRP as the only asset for trading, the CEO of Xago, Jurgen Kuhnel, said:

“By solving the double-spending problem the Bitcoin blockchain opened up digital peer-to-peer payments without the need for a trusted 3rd party through the process of mining. Ripple took this one step further and built a faster and more cost-effective decentralised ledger to compete in the high throughput and fast clearing retail and banking environments.”

As soon as the new Ripple exchange gains enough liquidity, Xago intends to also release a payment switch for retailers which they would access by means of their hardware and software. When this happens, people in South African online and offline stores will be able to use XRP for purchasing goods and food products, using only their smartphones.

Other recent Ripple partnerships

As reported by U.Today earlier, on October 9, Ripple struck a partnership with the Finastra startup that provides payment solutions to banking customers around the world. Finastra will get to access to the existing RippleNet partners, as well as will be able to use On-Demand Liquidity, a new Ripple’s product (which is assumed to be a rebranded xRapid) that directly utilizes XRP.

Other recent partnerships of Ripple (including those for XRP use) include the Iceland crypto trading company Algrim, a collaboration with BitPay for letting thousands of corporate customers use XRP, a partnership with a payment startup Logos for building the Internet of Value, etc.

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XRP price shows a small rise

Despite all these partnerships, the actual market price of XRP has grown only a little over the last few days. At press time, XRP is trading at $0.27, showing a rise by 0.78 percent.

XRP price
Image by Coinstats

The other day, U.Today reported a much bigger XRP growth by over 7 percent, when the rest of the market was in the red.

 

How many partnerships will it take for the XRP price to hit $1? Share your view in the comments below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing

  • Alex Dovbnya
    📰 News

    Google's quantum computer is still too primitive to pose a threat for Bitcoin's cryptography, but things could escalate quickly

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing
Cover image via www.123rf.com
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According to a new research paper published in science journal Nature, Google's quantum computer is able to perform calculations in just three minutes. To put this into perspective, it would take the fastest supercomputer about 10,000 years to perform the same operation, which signifies a major tech milestone for the search behemoth. 

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Google achieves "quantum supremacy"

Back in September, the Financial Times reported that Google has managed to achieve "quantum supremacy," which means that its beast is able to perform calculations that would be impossible to pull off with any other computer. 

However, technology is still way too fragile for commercialization, which is unlikely to happen anytime soon. There is hardly any practical application for quantum computers, but they do have great potential for disrupting a lot of industries, such as finance and transportation.   

Considering that the Trump administration has funneled a whopping $1.2 bln into the development of quantum computing, it might stop being just a buzz word. 

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Will Google's quantum success affect Bitcoin

There is also one notable application for quantum computing -- hacking Bitcoin. The headlines about Google's super-powerful juggernaut has made many wonder whether Bitcoin, whose value derives from the immutability of its Blockchain, is in danger. 

However, ex-Bitcoin Core developer Peter Todd reassured the confused crypto crowd that Google was nowhere near breaking the top coin's cryptography. On top of that, it's not even clear whether quantum computers could potentially be scalable enough for commercial use. 

Bitcoin evangelist Andreas Antonopoulos also opined that Google's quantum breakthrough would have no impact on the orange coin. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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