The world economy has been slowly cozying up to blockchain technology and cryptocurrencies, with many powerful countries jumping onto the bandwagon. Latest reports suggest that China, after being opposed to crypto for a long time, is actually leading the world with respect to new blockchain projects. The report said that China had 263 blockchain projects in the works by November 2018, with many more in the pipeline.
China’s figures in terms of blockchain projects accounted for almost 25 percent of the total number of projects worldwide. The figures were divulged by Blockdata, a data service provider in Beijing. Zhang Feixue, the Chief Editor at Blockdata said,
“The main strength of blockchain is in decentralized data management. It can serve the real economy in terms of circulation and distribution. In the field of industrial economy, blockchain allows various assets to flow in the digital world, so it is a real gateway to digitalization for industries.”
Companies in China have been at the forefront of developments in the blockchain and cryptocurrency world, with companies like Alibaba, Baidu, and Tencent, all dipping their toes into the world of digital assets. Paul Sin, the leader of the Asia Pacific Blockchain Lab at Deloitte noted,
“Whenever there is a need to synchronize data, especially sensitive information, across companies, industries and geographical boundaries, blockchain can offer a great solution due to its cryptographical protection of data.”
This is not the first time that China has led the world in terms of blockchain projects. According to previous reports, more than half of all blockchain patent applications in 2017 came from China. The Xi Jinping-led country was also in the news after data from Coinlib showed that there was a massive influx of Chinese Yuan into Bitcoin.
There were reportedly investments worth $166.49 million into Bitcoin, while $75 million investments were made into Ethereum.
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XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind
XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.”
A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it was just an “infrastructure blip,” and that there was nothing to be worried about.
Oops! Sorry! Infrastructure blip. Really easy fix but I enjoyed an offline afternoon with my girls 😇 So I only found out after some time, when I checked my phone. Monitoring, messages, calls 😇 Social media tips went through during the downtime. Sorry! 😆
— Wietse Wind (@WietseWind) June 23, 2019
XRP TipBot is probably the first and most widely accepted use-case of XRP. It leverages the transaction settling time of XRP Ledger to make tipping easy among peers on Twitter, Reddit, and other platforms, and this was the brainchild of developer Wietse Wind.
After TipBot, a lot of other cryptocurrencies have tried to mimic this idea of facilitating tipping; an example being Bitcoin’s, Tippin.Me which leveraged Lightning Network for tipping users. Although successful, it isn’t as popular as Wind’s TipBot.
The reason behind the same is that XRP Ledger allows transaction settlement in under 5 seconds, which makes tipping fast and efficient, unlike Bitcoin’s transactions which take a few minutes for transactions to be confirmed.
This is same reason why XRP is being used as a liquidity provider for cross-border payments in Ripple’s proprietary product, xRapid.
XRP community is a tightly-knit community with people who are very bullish about XRP’s success. There are equally talented developers in the community who are developing apps that help create more use-cases for XRP.
SchlaubiDev is one such developer known for developing plugins for Gmail and Microsoft Office, plugins that allow a user to send XRP over e-mails.
Ripple has identified Wind and his team’s talent and inducted them into Xpring, which finances them to help develop more community-based apps for increasing XRP use-cases.
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