Bill Barhydt has been pursuing a crypto dream that may bring maturity to the virtual currencies system. Barhydt is the founder of Abra, a financial technology-based service provider, intent in bridging one of the biggest chasms thus far in crypto markets by operating all-in-one crypto wallet and an exchange app. Abra is already offering a Bitcoin-based trading feature.
Adding to this capability is their latest offering for XRP. Bararhdyt’s exciting tweet Bill Barhydt (@billbarhydt) February 6, 2019 says,
“Yes for xrp noexact date”
With this, the clarion call for the same functionality for XRP is finally announced.
And user community is vastly excited as with XRP Nation’s tweet,
“That’s awesome news. Keep up the great work!! #xrpcommunity”.
Why is Abra so interested in XRP
XRP runs on the Ripple Transaction Protocol (RTXP) the seminal offering from Ripple Labs singularly distinguished for the way it is revolutionizing real-time payment systems. Banks are passé as Ripple underlines peer-to-peer transactions. This is because technically RTXP includes two types of currencies – IOUs and XRP. XRP is used extensively as a protocol for banks and other financial institutions to convert fiat and transfer to anywhere across the world.
A bank-transaction may take a couple of days to be completed. An XRP transaction, on the other hand, may take 4 seconds while the network speed is upwards of 1500 tx per second. This does represent significant savings since the average saving per payment is to the tune of $3.76 per payment.
In the meanwhile, XRP and Ripple, has added over 11 new collaborations across with academia to build on the blockchain largesse and offer qualitative research in this principle via University Blockchain Research Initiative (UBRI).
Ripple has stated that “These programs, driven by the university partners, are poised to prepare the next generation of engineers, business leaders, entrepreneurs, and other professionals to apply these technologies in practice. In addition, these programs will increase positive awareness of the transformative impact that blockchain technology will have across all industries.”
The outstanding contributions from Ripple-associated theoreticians have been the platform on which much of Ripple and XRP protocol standards have evolved into seconds-based cross border transactional platform, far ahead of traditional as well as similar peer-to-peer transactions services.
SVP of Ripple, Mitneburg has said, “In less than a year, our initial UBRI partners hit the ground running with the launch of new research projects, events, course offerings and more. Expanding the ecosystem to a more global, diversified network of UBRI partners will only continue to enrich these projects.”
These and similar such initiatives at Ripple Labs is what attracts big-time players such as Arba to include XRP into its wallet the setup users for buying stocks with the advanced virtual currency.