XRP XRP to Stakenet XSN Exchange

Crypto Pair Details: XRP to XSN

XRP XRP

Ripple is the catchall name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network which requires various parties to participate in validating transactions, rather than any singular centralized authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time. Ripple was originally founded by a single company, Ripple Labs, and continues to be backed by it, rather than the larger network of developers that continue bitcoin’s development. It also doesn’t have a fluctuating amount of its currency in existence. Where bitcoin has a continually growing pool with an eventual maximum, and Ethereum theoretically has no limit, Ripple was created with all of its 100 billion XRP tokens right out of the gate. That number is maintained with no mining and most of the tokens are owned and held by Ripple Labs itself — around 60 billion at the latest count. Even at the recently reduced value of around half a dollar per XRP, that means Ripple Labs is currently sitting on around $20 billion worth of the cryptocurrency (note: Ripple’s price crashed hard recently, and may be worth far less than $60 billion by time you read this). It holds 55 billion XRP in an escrow account, which allows it to sell up to a billion per month if it so chooses in order to fund new projects and acquisitions. Selling such an amount would likely have a drastic effect on the cryptocurrency’s value, and isn’t something Ripple Labs plans to do anytime soon. In actuality, Ripple Labs is looking to leverage the technology behind XRP to allow for faster banking transactions around the world. While Bitcoin and other cryptocurrencies are built on the idea of separating financial transactions from the financial organizations of traditional currencies, Ripple is almost the opposite in every sense. XRP by Ripple price can be found on this page alongside the market capitalization and additional stats.

Stakenet XSN

Stakenet launched in March of 2018 by building off of a POSWallet (POSW) to Stakenet (XSN) coin swap. The Stakenet blockchain was created from the swap and is a modified blockchain based on Bitcoin. POSWallet was the original incarnation of Stakenet and offered a staking wallet that served over 100 of the most popular and common cryptocurrencies. The complete number of POSW coins in distribution grew to 250 million, so the developers burned coins from their wallet to lower the circulation to 70 million. Unfortunately, the website for the POSWallet was hacked, resulting in the team leaving the project. Instead of completely abandoning it, the developers rebuilt the blockchain from the ground up with better features and have now migrated POSW to the superior XSN. The digital coin that powers the Stakenet platform is XSN. It features completely secure Trustless Proof of Stake and is compatible with the Lightning Network, which allows for instant transactions with little to no fees associated with them. XSN will be used to pay for any services on the platform. It can interact with other coins, which will make for many amazing opportunities for investors utilizing the program. For example, by using the platform’s Cross Chain Proof of Stake, holders can stake XSN and earn Bitcoin rewards. Users will also be able to pay anyone using any cryptocurrency just by having XSN. The coin will offer incredible flexibility in the way that it interacts with other cryptocurrencies.

SOURCE: COINGECKO

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