XRP’s Vision for the Future to Revolutionize International Payment with 293M+ Transactions Daily
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XRP enthusiast Alex Cobb has shared some fascinating insights into how XRP could make a big difference in international money transfers – giving a more significant threat to the traditional money transfer system. To give you a clear picture, Cobb mentioned that XRP can handle 293 million transactions daily.
Alex Cobb Reveals XRP’s Lightning-Fast Transactions with 293 Million a Day
In a recent tweet, XRP advocate Alex Cobb shared some remarkable insights into the capabilities of the XRP Ledger (XRPL) blockchain. Alex Cobb mentioned that XRP can handle 3,400 transactions every second.
Breaking this down means 204,000 transactions in a minute, 12.24 million transactions in an hour, and 293 million transactions daily.
These vast numbers suggest that XRP has the potential to be a game-changer in the world of global payments, especially for banks worldwide.
Cobb himself stressed that XRP is meant to be a valuable asset for banks worldwide, saying, “XRP is designed to be a helpful tool for banks.”
Daniel Keller Challenges High Transaction Claims
However, not everyone agrees with these numbers. Daniel Keller, an XRPL ambassador and the Chief Technology Officer at Eminence, has raised some critical questions.
Keller has clarified that the 3,400 TPS figure is more like a theoretical maximum possible under ideal conditions in a lab. In the real world, where things are imperfect, XRP may not always perform at that level.
When asked about the typical speed of XRP transactions in real life, Keller said, based on his experience and data, it usually falls between 500 and 700 transactions per second.
It’s also good to note that Ripple’s CTO David Schwartz recently confirmed this view, with the XRP blockchain’s capability increasing from 1,500 to 3,400 transactions per second.
As cryptocurrency keeps evolving, XRP’s role in transforming international payments remains a topic of great interest.
Filed under: Bitcoin - @ October 3, 2023 11:17 am