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Ripple CTO David Schwartz Reveals Benefits of PayID. Which is Most Important?

News
Fri, 06/19/2020 - 10:50
Vladislav Sopov
Ripple has launched PayID, a universal identification system for mupltiple services. Platform CTO David Schwartz outlined the its top benefits
Ripple CTO David Schwartz Reveals Benefits of PayID. Which is Most Important?
Cover image via ripple.com
Contents

PayID, a service that enhances interoperability between 40 different partners with 100M users in total, was introduced by Ripple Inc. yesterday, June 18th, 2020. Mr. Schwartz revealed why it is a big milestone for the whole fintech field.

One-stop payment ID

With the new service, users can send money through different payment solution platforms. But this isn't its only achievement, Mr. Schwartz suggested.

Ripple CTO highlights main opportunities of PayID
Image via Twitter

According to him, human-readable payment addresses for blockchain-based payment instruments are also very useful for end-user transactions. With PayID, a single destination address can be used for many crypto and fiat systems.

Also, with PayID it is now much easier to meet regulatory demands. It looks as though this aspect is of particular importance to Ripple Inc. as it attempts to defend XRP from being regulated as a security.

Lastly, the most 'blockchain-like' feature of PayID is its reliable 'proof-of-delivery' status. With the new features, one can easily check whether the transaction was actually confirmed.

Interoperability bridges

Mr. Schwartz asked his 150K Twitter followers for their opinion on what is the most important and useful feature. At press time, 5,446 members of Crypto Twitter have voted.

The 'regulatory compliance' feature is winning by a small margin. 27.7% of users have so far supported this aspect of the PayID release.

Mr. Schwartz, himself, emphasized that this solution greenlights the 'conversion routes' between different systems. Not only services, but also their 'combinations' will make the crypto experience seamless and profitable.

As covered by U.Today, Ripple CEO Brad Garlinghouse compared the PayID user experience with that of e-mail. From day one, it ensures interoperability between top-level payment instruments, e.g. BitGo, Brave, Huobi, and Blockchain.com. 

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)