Ripple vs XinFin, which one’s going to save the day.
Today we are comparing two of the most versatile blockchain companies in the market- Ripple and XinFin
The cryptocurrency market is gradually evolving into a phase where proficiency isn’t a prerequisite for earning better profits. To benefit from any existing blockchain, you have to understand their fundamental network, existing DAPPs and currency status to understand their competitive advantage, before investing in them. A little research can earn you much higher incentives than divesting your resources in a distributed fashion or banking them in a specific but expensive resource. Crypto transactions are multiplying with every passing minute and there’s no better day than today, to board the train and share a piece of the cake. But we before begin, it is necessary to gather the arsenal required to shoot those coins in the crypto market.
Today we are comparing two of the most versatile blockchain companies in the market- Ripple and XinFin. While Ripple stands at the 3rd position in terms of market capitalisation and is more known for its digital payment protocol than its cryptocurrency, XRP. XinFin, on the other hand, is the baby boomer with distinctive and popularly reviewed applications including Trade Finance Digitization and Tokenization and payment application TradeFinex.org (Considered to be Biggest blockchain use case for the trillions of dollars daily market). XinFin have live Network and their coin, XDC is making steady growth after mainnet and has the potential to skyrocket this year with the pipeline of ventures, they have in store currently.
Origin and Background
XinFin was started in 2017 and since its advent, has taken the blockchain world with a storm by bringing state of the art hybrid network technology into the market. This means that the platform offers a combination of the private and public network for the nodes to operate in, which increases the security and integrity of the transaction. Instead of using centralized approach followed by Bitcoin, XinFin uses decentralized consensus mechanism to reduce the overall transaction time.
Ripple operates on an open-source and peer-to-peer decentralized platform that allows for a seamless transfer of money in any form, whether USD, Yen, litecoin, or bitcoin. The company was started in 2012 and is majorly known for its payment application RipplePay. Instead of using proof of work or proof of stakes concept, it actually works on a consensus framework which is extensively being used in XinFin in all their DAPPs working on the hybrid network. Being open-source, it allows the community now, at least in theory, to gain access to the entire suite of tools needed to maintain the Ripple network on its own.
XinFin is an open source, hybrid blockchain, which means that the exchanges are private yet confirmed on a public blockchain that can not be hampered with. This capability enables all kinds of transactions, from peer-to-peer and institutional to public ones as well. Additionally, it allows transactions to be verified through XinFin Delegated Proof of Stake (XDPoS) which integrates consensus mechanism with volume of Equal stakes. This increases the level of security of transactions and also allows incorporating automated punitive measures for controlling stakes in case default actions. Through decentralized networks, institutional players can make smart contracts, with no worry that financially delicate data can be undermined. This extra preferred standpoint of having smart contract undermines Ripple’s application capabilities which implies that everything in Ripple is worked at the application level, while XDC network can create contingent smart contracts and permit super-quick cross-fringe exchanges.
While both Ripple and XinFin have closely competing transaction time but XinFin gains an edge with 2000 transactions per second over Ripple’s 1500 TPS. Additionally, the block creation time is exactly half of that of Ripple i.e. 2 sec while Ripple still takes 4 sec. Even though both the networks are open sources, Ripple repository can only be accessed through API. On the other hand, XinFin has allowed access to its entire ecosystem on its Public Network, increasing the accessibility and ease of usage.
Applications, Compliance and Cryptocurrency
Ripple is majorly known for its payment use case RipplePay which intended to replace banks by creating a peer-to-peer trust network in which individuals could directly loan each other, and make alterations to these loan balances by enabling payments.
On the other hand, XinFin currently has a host of applications, all of which are hosted on its hybrid network. These prevail in trade, finance, digital payments and cryptocurrency exchange domain. Moreover, the applications allow access to the entire ecosystem i.e. one can build their business using an integrative approach. What makes XinFin stand out is the KYC compliant feature which is still missing from the likes of Ripple.
Both companies share the attribute of having an R3 Partnership (and both focusing on institutional partnership) but while XinFin’s coin XDC goes easy on your pockets, XRP is running on the rate of 100 times that of XDC. This means you can buy more XDCs at the same amount and gain a steady profit as per the growth scale in the past year. Currently the market capitalisation of XDC is capped at $5,167,581 USD, which has grown manifolds in last FY. In supply terms, Ripple has 100Billion Token supply while XinFin has only 37Billion of the total supply of XDC coin.
From the above discussion, unmistakably XinFin is an incredible crypto for somebody looking for a speculative but high ended opening. It is similar to putting money into Bitcoin, years ago, when it was still at its nascent stage. The promise of long haul returns is what makes it a golden egg, ready to skyrocket any day.
Read my previous articles: https://medium.com/@vinn9686