The 3rd generation of Blockchain?

Bitcoin has been breakthrough of the new “money” followed by etherium. So many other cryptocurrencies have risen to this date base on the “old” Blockchain technology. Among the new coins are the EOS and ADA that has some significant difference of outlook compare to the BTC and ETH.

Let’s first look into 1st (BTC) and 2nd (ETH) generation of Blockchain technology. Both 1st and 2nd generation of Blockchain offered a new way of ledger system. We have been taking advantage of it by some payment system and investment. We are able to send any lump sum of money to anyone as long as you know the address of the recipient. Yet, there have been quite of a drawback also. Some of the problems are speed and accuracy. First of all, sending BTC is not fast as we think or we hope to be. In order to process ledger and record ledger for all users, it takes very long time for the fund to be confirmed and transferred. Worst of all, without physically carrying a digital device that stores wallet addresses, there is no way for anyone to memorize complexed combination of letters and numbers, not to mention the capital letters.

ETH is not much better than BTC. ETH requires huge energy spending on Proof of Work (Pow) and the limit of transaction record capacity.

These problems resulted in BTC separating into bitcoin cash (BCH) and bitcoin gold (BTG). ETH separated to etherium classic (ETC).

The 3rd generation of Blockchain is utilized by ADA. ADA is aiming for somewhat of trans-blockchain communication facilitator. I still have a limited understanding of this concept at the moment but it seems to me that PoW is changing to Proof of Stake (PoS). To make simple, PoS requires much less electricity to mine.

All in all, as more BTC and ETH transactions occur, it takes longer time for a transaction to complete. As of now, Visa card takes shorter transaction time than BTC and ETH. However, EOS and ADA takes about 3 seconds per transaction. This is why the 3rd generation of Blockchain could be a new rise of the cryptocurrency.

Ripple (XRP) the rising sun?! 37% gain overnight!

Ripple (XRP) is something that I never thought of investing until recently. After doing some BTC flipping, XRP came to my attention about 2 weeks ago. It was around $0.75/XRP. Cheap. What the hell, throw some money in and let it sit there. Who knows what would happen. That was my attitude until last week. Today as of now, it’s sitting at $2.00!!! That’s 3x of return in 2 weeks!!! What?!

Throughout overnight, I found out that South Korea started to impose new law regarding cryptocurrencies and people started to dump some. Starting from 2018, all new account will be “trackable” accounts. No longer anonymous. Banks in Korea are starting to regulate the flow of money in and out of cryptocurrency exchanges. Not too much of drop but 1~3% range of negative side shows on BTC.

Now, this is where XRP is interesting. Among all the cryptocurrencies sliding down the hill, XRP shot up 36% at the moment. Hum. I am not complaining but I am curious why XRP isn’t following other cryptocurrencies’ trend?

I initially thought XRP is nothing different from the other cryptos but it’s actually quite different. XRP is not mined. It has the finite number of coins already exist out in market and banks in the world are involved in it. Recently, Japan started a test on XRP to send money.

Hum… why do I smell manipulation…

XRP just pass by ETH in market cap. That’s quite significant. Considering that XRP wasn’t even $0.01 back in March of this year. Wait… damn… that’s 20,000% increase!

If banks are trying to win over BTC market, my money will be on XRP. I do not support the idea of not being anonymous but I will worry about being “tracked” after I earn. All I gotta do is pay tax. I can do that. >=]

Bitcoin quick flip chance #3

Wow!!! 9.14%!!!

I hope you have a connection to Korean banking system!! Or at least, any Asian banking system for that matter.

Eeeeeeeha!