What can we expect from Allvor on the XRP Ledger?
- Posted by: editor
- Category: Allvor Vision, News, XRP Ledger
Currently, the best-known cryptocurrency in circulation is Bitcoin. Because of its pioneering nature, Satoshi Nakamoto’s invention has basically revolutionized the world with its blockchain, showing that a transparent and decentralized financial system was possible.
However, due to the high costs involved for the network to continue operating and the time it takes for the blocks to be validated by the servers, the commercial use of Bitcoin on a day-to-day basis is a challenge for users and merchants alike.
Take for example the purchase of a simple coffee in any shop. Such a transaction may take more than an hour to be validated and the network operation fees may be higher than the cost of the coffee itself. That is a bitter reality for Bitcoin and his followers, unfortunately.
Other cryptoassets and digital protocols have come up to try to solve Bitcoin’s problems, but many have followed their predecessor’s footsteps, failing to truly popularize the use of digital currencies.
The emergence of Ripple
With virtually instant transactions – which settle in just 3 seconds – and a safety higher than from other data transaction protocols across the network, Ripple and its blockchain, the XRP Ledger, have emerged.
Ripple has set the goal of making interbank transactions, international shipments, and other exchanges of values between companies simplified and, above all, safer.
That is, Ripple’s focus is not on commercial transactions between individuals. Nevertheless, due to its open nature, we, the Allvor’s developers, see Ripple and its technology as the solution for a true popularization of the cryptoassets use in everyday transactions, which can range from purchases in electronic commerce to that coffee Bitcoin and other cryptocurrencies were not able to quickly process.
Allvor, a revolution in the XRP Ledger
Allvor is the world’s first commercial transaction-focused cryptoasset that works entirely within the XRP Ledger. As shown in the previous paragraphs, our choice of working with Ripple’s blockchain was due to its superior features compared to other digital currencies and protocols, as well as its scalability and continuous improvement.
But it was not only technical aspects that led us to this choice. We also believe that the strong interest of Ripple’s community of developers and enthusiasts is a huge benefit to Allvor’s success. This is why our initial distribution was performed for those who already owned the XRP token under certain pre-established conditions.
Allvor in the XRP Ledger: a brighter future
We, from Allvor, are happy to participate in the revolution started by Bitcoin and improved by Ripple. As our own name indicates, we believe in a better tomorrow for everyone, and we are just glimpsing the first sunlight.