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In the wide world of cryptocurrency, two altcoins have made headlines with the controversies surrounding them. Yes, you guessed right. These two altcoins are Ripple and Bitcoin Cash. Before we dive into the specifics surrounding them, along with information such as How To Buy Ripple In Canada, let us get started with the basics.
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In the wide world of cryptocurrency, two altcoins have made headlines with the controversies surrounding them. Yes, you guessed right. These two altcoins are Ripple and Bitcoin Cash.Before we dive into the specifics surrounding them, along with information such as How To Buy Ripple In Canada, let us get started with the basics.
All you need to know about cryptocurrencyCryptocurrencyis digital money that doesn’t exist in the physical form. It is seeing increasing popularity in the world as it is a democratized system of trade. Here, the money is not controlled by any organization or government. It is in the hands of the developers, ensuring fair trade.
Now, let us look at RippleRipplehas created controversy because the platform it’s created on is not decentralized. It is something that goes against the very foundation of cryptocurrency. In fact, Ripple refers to a private corporation, which aims to make profits. Some aspects of its blockchain are controlled by the organization, not by developers.Despite this, Ripple has several users. Let us take a look at why.
All you need to know about RippleAs the company behind the XRP token, Ripple is a private company that needs public funding to work. With a twist: It is in it to make profits. Ripple works with central banks to make processing and transferring money of large amounts easier, quicker, and cheaper.
Some other benefits include:• It is privately owned, due to which stakeholders make the XRP tokens price go up.• It serves central banks.• It handles billions in trading every single day, making it easier for entries and exits.• XRP tokens can be bought at cheaper rates as compared to Bitcoin.
Moving onto Bitcoin CashWhat sets Bitcoin Cash apart is that it has always ranked amongst the top 10 cryptocurrencies worldwide. One reason could be that it has the name of the most famous cryptocurrency- Bitcoin. So what exactly is it? And why is there controversy around it?Bitcoin Cash is a by-produce of the coding structure of Bitcoin. It exists because some developers deviated from the original Bitcoin and forked Bitcoin Cash. The reason? They wanted to increase the block size to 8 MB from 1 MB. The need for the larger size was because it enables more transactions to be processed at once.
The Benefits of Bitcoin CashRoger Ver promoted Bitcoin Cash because it helps in daily transactions due to cheaper block sizes, network fees, and transaction speeds.Let us have a look at its benefits in-depth:• Due to the success of Bitcoin, it is familiar to traders.• As mentioned before, Bitcoin Cash has larger block sizes of up to 8 MB. It allows more transactions to take place.• The transactions take place at 116 transactions per second.
Moving AheadNow that you know about the controversies surrounding Ripple and Bitcoin, you need to learn How To Buy Bitcoin Cash In Canada. With Netcoins, you can easily do this. All you need to do is open an account, get your identity verified and transfer money before trading.Happy trading!SOURCE CREDIT: https://netcoinscanada.wordpress.com/2021/06/01/the-controversies-surrounding-ripple-and-bitcoin-cash/
