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Ripple Update | XRP Private Keys at Risk but CEO Optimistic

Ripple has been in the crypto news quite a lot these past few weeks. The company behind the world’s second-largest digital currency, XRP, has released statements on growth, a hack, and a number of other developments with its platform. Today, we provide our readers with a Ripple update and the latest developments of the xRapid platform.

Ripple Update: Potential Private Key Vulnerability

This morning, Ripple provided investors with an update regarding a recent research paper released by DFINITY Foundation and the University of California. In this paper, both parties revealed that a portion of Bitcoin (BTC), Ethereum (ETH), and XRP addresses were vulnerable to attacks.

Ripple wanted to clear this up on their end before things spun out of control. The Ripple update informs investors that the private XRP keys used before August 2015 are vulnerable. The researchers in the report claim to have successfully hacked hundreds of private keys thanks to “biased nonces.”

Ripple concludes that deterministic nonce generation has been a part of its software since August 2015, making it safe from this vulnerability. While this hack is alarming, the research also states that centralized and single-computing systems are hacked with much more success and frequency than private keys.

Ripple’s Positive Movement

On the more positive side of the Ripple update, last week Ripple announced RippleNet has passed the 200 customer mark. RippleNet is currently operational in over 40 countries and on six different continents.

>> Crypto Hack Takes Crypto Exchange Cryptopia Offline

“In 2018, nearly 100 financial institutions joined RippleNet, and we’re now signing two—sometimes three—new customers per week. We also saw a 350 percent increase last year in customers sending live payments, and we’re beginning to see more customers flip the switch and leverage XRP for on-demand liquidity,” said Brad Garlinghouse, CEO of Ripple. “At the end of the day, our goal is to make sure our customers can provide excellent, efficient cross-border payments experiences for their customers, wherever they are in the world.”

XRP Movement

According to CoinMarketCap, XRP is currently trading at $0.328 a coin, up +0.18%. The digital currency remains the world’s second-largest cryptocurrency by total market cap.

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Ripple (XRP) and Bitcoin Cash (Bitcoin ABC) Surge!

Cryptocurrencies are absolutely booming this morning, just in time for the holidays! All but five digital currencies that are in the top 100 are trading green. This is quite a shift, as 2018 has been a negative year for digital currencies. Today, we’ll take a look at Ripple (XRP) and Bitcoin Cash (Bitcoin ABC).

Ripple (XRP)

The CEO of Ripple, Brad Garlinghouse, sat down yesterday for a ‘Ask Me Anything‘ chat with the company’s VP of Marketing. Monica Long asked Garlinghouse a series of questions surrounding Ripple and XRP. Of course, she asked Mr. Garlinghouse if XRP was a security or not. The Ripple CEO has been asked this countless times, and every time he answers with a resounding, “No.”

Garlinghouse explained:

“I think it is very clear XRP is not a security. There is a whole bunch of base layer reasons for that. One of the most important I think is if Ripple the company shuts down, XRP trades on over a hundred exchanges around the world and XRP will continue to trade. Ripple is one important participant in the XRP ecosystem but there are a whole bunch of participants.”

Thus the difference between XRP and Ripple, which are often confused. However, XRP often rises when Ripple makes major announcements.

According to CoinMarketCap, XRP is trading at $0.372 a share, up +11.99% in 24 hours.

>> Bitcoin Gains 18%: Quinone CEO Says 2019 Will Bring New All-Time Highs

Bitcoin Cash (Bitcoin ABC)

Bitcoin ABC has won the hash war, and today, it’s dominating the cryptocurrency market. At press time, Bitcoin Cash is seeing the most percentage gains out of all the top 70 cryptocurrencies. The digital token’s rival, Bitcoin SV (BSV), is also seeing gains, but not as high.

It remains unknown at this time how long Bitcoin SV will last, but it seems Bitcoin Cash (Bitcoin ABC) is here to stay.

At the time of writing, Bitcoin ABC or BCH is trading at $142.92 a coin, up 42.99% in 24 hours.

What do you think about Ripple and Bitcoin Cash?

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The Original Software Wallet Releases its First Hardware Wallet

Blockchain is releasing its first hardware wallet, called the Lockbox. The company that is synonymous with having one of the oldest software wallets will begin shipping its new device in November.

Blockchain’s Lockbox

Blockchain’s online software wallet boasts over 30 million accounts, so will its new hardware device do the same?

The company partnered with hardware wallet maker Ledger to create the Lockbox and has already begun taking orders.

The Lockbox is setting out to be different. It allows the user to make crypto-to-crypto trades through Blockchain’s native brokerage called Swap. This platform launches next week, and the idea behind it is to make trading and storing happen all in one place.

As Blockchain CEO Peter Smith put it:

“For us, what’s really important right now is to get the product to a point where you don’t need other places to complete your user actions in crypto.”

Also, Lockbox can only connect with legitimate websites thanks to an innovative safety feature within the device. This will reduce phishing attempts and hacks. The company calls this “endpoint-controlled” and it means a user can’t be tricked by a fake site.

>> Coinbase BCH Insider Trading Case Dismissed by US Court

Lockbox Wallet Support

The wallet will support Bitcoin, Ethereum, and Bitcoin Cash to start. However, if demand dictates it, the team is willing to support other coins.

Creating the Lockbox with Ledger will help this along as Ledger has support for nearly 100 crypto assets.

Smith has been noted as saying “I think we will be more aggressive on adding assets in the next six months […] In the long run, I see our trading system being both a consumer and a provider to DEXs (decentralized exchanges).”

Smith continued:

“We built a machine trading platform […] It connects to different liquidity [sources] across the ecosystem, everything from different exchanges to market makers.”

Is a hard wallet your preference? Blockchain and Ledger both have huge user number and good reputations. Will Lockbox be a success?

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The Original Software Wallet Releases its First Hardware Wallet

Blockchain is releasing its first hardware wallet, called the Lockbox. The company that is synonymous with having one of the oldest software wallets will begin shipping its new device in November.

Blockchain’s Lockbox

Blockchain’s online software wallet boasts over 30 million accounts, so will its new hardware device do the same?

The company partnered with hardware wallet maker Ledger to create the Lockbox and has already begun taking orders.

The Lockbox is setting out to be different. It allows the user to make crypto-to-crypto trades through Blockchain’s native brokerage called Swap. This platform launches next week, and the idea behind it is to make trading and storing happen all in one place.

As Blockchain CEO Peter Smith put it:

“For us, what’s really important right now is to get the product to a point where you don’t need other places to complete your user actions in crypto.”

Also, Lockbox can only connect with legitimate websites thanks to an innovative safety feature within the device. This will reduce phishing attempts and hacks. The company calls this “endpoint-controlled” and it means a user can’t be tricked by a fake site.

>> Coinbase BCH Insider Trading Case Dismissed by US Court

Lockbox Wallet Support

The wallet will support Bitcoin, Ethereum, and Bitcoin Cash to start. However, if demand dictates it, the team is willing to support other coins.

Creating the Lockbox with Ledger will help this along as Ledger has support for nearly 100 crypto assets.

Smith has been noted as saying “I think we will be more aggressive on adding assets in the next six months […] In the long run, I see our trading system being both a consumer and a provider to DEXs (decentralized exchanges).”

Smith continued:

“We built a machine trading platform […] It connects to different liquidity [sources] across the ecosystem, everything from different exchanges to market makers.”

Is a hard wallet your preference? Blockchain and Ledger both have huge user number and good reputations. Will Lockbox be a success?

Featured Image: Depositphotos/© TPOphoto

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Ripple (XRP) and Litecoin (LTC)

The cryptocurrency market is currently sitting just above $210 billion this morning. While mainstream media is heavily focused on cannabis at the moment, blockchain companies are still making moves in the background. Today, we’ll take a closer look at Ripple (XRP) and Litecoin (LTC) and the latest advancements with the two projects.

Ripple (XRP)

Ripple and XRP are often confused as the same and are often grouped together because what Ripple the company does ultimately affects/influences the price of XRP.

Less than a month ago, Ripple revamped its website to solely focus on RippleNet. RippleNet has just expanded its xRapid platform that uses XRP as liquidity for financial institutions. While its xCurrent platform currently has over 100 banks and financial institutions signed up and testing its XRP-less platform, Ripple’s goal is to eventually transition these institutions to RippleNet.

Ripple’s press release explained why using XRP is crucial for cross-border transactions:

“Pilots in the crucial U.S. to Mexico remittance corridor using XRP as a digital asset demonstrated savings of 40-70% compared to traditional costs. At the same time, it helped lower settlement times from two to three days to just over two minutes.”

At press time, XRP is currently trading at $0.465 a coin, up 0.34%, in 24 hours.

>> Small Bitcoin Fee: Only 10 Cents for $194 Million on the Bitcoin Network

Litecoin (LTC)

On Tuesday, LTC began trading on Gemini.

Gemini is the cryptocurrency exchange owned by the US Olympian Winklevoss Twins. Gemini is currently the 42nd largest cryptocurrency exchange by its total trading volume on CoinMarketCap.

BTC/USD pairs still equate for over 80% of the exchange’s volume in the last 24 hours. So far, LTC/USD only makes up 0.73%, with a volume of $214,836. On the 15th when the announcement was made about LTC being launched on Gemini, LTC surged 10% in an hour but quickly corrected.

The Litecoin Foundation also just celebrated its 7th birthday on the 12th.

According to CoinMarketCap, LTC is currently trading at $53.00 a coin, down -0.40%.

Check back in for more Ripple and Litecoin news!

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