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XRP Check Introduction Needs Just One More Voice to Pass

News
Thu, 06/04/2020 - 10:34
Vladislav Sopov
The check issuing feature in XRP payments has 12 more days to be discussed. With the announced support of Alloy, it needs only one approval out of 36 to pass.
XRP Check Introduction Needs Just One More Voice to Pass
Cover image via stock.adobe.com
Contents

The XRP Checks amendment gained 28 'yeas' of 36, and, therefore, is one hit away from implementation. But one circumstance makes things spicier with this novelty.

Validator moves veto

It was announced on June 3, 2020, that Alloy Networks, one of the XRPL validators, will lift its veto on the implementation of checks in the XRP payment mechanism.

Alloy Networks supports XRP checks implementation
Image by XRP Scan

The Alloy Networks leaders managed to keep to their word and move their voice to the 'Yes' section. Now, this proposal has been approved by 77.7% of the validators. Only one voice separates these amendments from passing.

XRP Checks, according to the text of the proposal published on the official XRP Ledger devs website, will behave similarly to traditional paper checks. A Check will specify the amount of a transaction and its destination. 

Later, the destination can cash the Check to receive up to the specified amount. The actual movement of money is only confirmed once the Check is cashed.

Revolutionary amendment

At press time, this amendment is still vetoed by 8 validators. Six of them are associated with Ripple.com. Peers Island and Rabbit Kick supported the position of Ripple, Inc.

XRP community enthusiasts noticed that, if this amendment passed, it would be the first one vetoed by Ripple Inc. but finally implemented in XRP transactions.

XRP checks are vetoed by Ripple Inc.
Image via Twitter

So, the confirmation of this proposal would strengthen the decentralization narrative around XRP. Also, it could establish a precedent for further amendments to the protocol.

According to the XRP Scan, this referendum will be closed on June 18th, 2020 at approximately 12:12 AM UTC.

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
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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.)