After the temporary drop of XRP as a means of payment last year, the Private Internet Service has once again appointed Ripple payments and is all geared up to present a resourceful manifestation for XRP. The VPN service first started accepting it from February 21, 2013.
The VPN is the very first company that integrated Ripple’s cryptocurrency XRP. When PrivateInternetAccess started accepting XRP, it had powerful words to say on the subject. It noted that XRP was the very first crypto “that truly has the guts to compete with Bitcoin.” Bear in mind that Ripple was a very new project back then.
Also, bear in mind that it’s come to happen. Right now Ripple is the world’s second cryptocurrency by market capitalization. It took over Ethereum’s spot last week so, the VPN’s announcement has become a prophecy: Ripple is, indeed, the one coin that can give Bitcoin a run for its money as things stand, and it keeps growing.
According to the original announcement, Ripple was the first truly innovative blockchain project that could improve decentralized cryptos since Satoshi Nakamoto (the enigmatic cyber-superhero who invented Bitcoin, and whose true identity remains unknown) brought Bitcoin live.
That announcement went on to explain why Ripple had some serious advantages over Bitcoin, namely, there is no mining in XRP (Ripple pre-mined all tokens before they went online) and there is no ‘hard’ limit for transactions per second. Both things have profound consequences regarding performance and security. The lack of a hard limit on transactions allows XRP transactions to be completely settled in seconds, instead of hours (yes, even back then Bitcoin wasn’t that fast). And the lack of mining means that a 51% attack is just impossible.
To be fair, Bitcoin has never suffered from a successful 51% ever. But other currencies (such as Verge) have been hacked several times already. And since it takes no energy at all to mine XRP (as opposed to Bitcoin which is taking just as much energy as Ireland), it’s a very green coin.
The disadvantage, the announcement continued to say, is that Ripple owns most XRP tokens, which are all in existence already while Bitcoins come about into the world through a collaborative process based on a mining open to everybody who wants to join.
The other disadvantage was that Ripple seemed like a very experimental project still, while Bitcoin seemed to be all settled. This is probably where the announcement went slightly wrong as Ripple’s technology has not changed at all while Bitcoin has had to adopt several updates (like the lightning network) to keep the project viable.
Among the most interesting ideas we found on that “old” announcement, was that Bitcoin and Ripple are made for each other. They’re complementary projects that make, between them, the crypto verse powerful and reliable.
“It will be years before Ripple can truly claim to be an invulnerable payment processing network,” said VPN five years ago.
The idea that VPN envisioned to adapt XRP years ago when Bitcoin was flourishing at the height of the money index, seems to be turning into reality now.