Ripple XRP Will Be Accepted by Thousands of Business thru Bitpay!!!
Today I have four very cool pieces of news to share with you guys. So let’s get into it! First up, it looks like Ripple’s XRP will be accepted by thousands of businesses due to their BitPay Partnership. Next up, despite Mark Zuckerberg calling off the launch date for the Libra token, it looks like Facebook’s LIbra Nodes are now live on ‘pre-mainnet’. Third up, it looks like encrypted messaging service Telegraph will launch its long-awaited Telegram Open Network (TON) in late October this year. And finally, according to Coindesk, it looks like Coinbase-Led Crypto Ratings Council draws a lot of skepticism from legal experts.
The Market Today
There have been many fluctuations in the market. Bitcoin is currently around the $8,200 mark, and currently losing 1.17%. Ethereum and XRP, the two major altcoins, are also following the same trend with a 2.67% and 1.86% decrease in the past 24 hours.
BitPay will add XRP as a new payment option
According to a report on U today, the major US crypto payment provider Bitpay has just announced a partnership with Ripple’s XRP. It looks like BitPay will be adding Ripple’s XRP as a new payment option by the end of this year. Now, this new initiative is scheduled to roll out by the end of this year. According to BitPay’s official tweet
“Soon BitPay merchants around the world will be able to accept #XRP payments alongside cryptocurrencies like ETH, BTC, and BCH.”
In response to the news, a lot of XRP fans expressed their excitement. An example here is Ripple fan Alex Cobb, who points out the shortcomings of using BitPay to facilitate Bitcoin transactions.
“I use BitPay all the time! sick of sending in Bitcoin and waiting an hour and losing money to volatility!”
Let’s hope the same thing doesn’t happen to XRP. And for those who want to learn more about Bitpay, BitPay originally supported Bitcoin and Bitcoin cash before adding Ethereum as a new payment option on Sept. 16.
Facebook’s Libra is up on ‘Pre-mainnet’
According to a news article on Cointelegraph, it looks like Facebook’s Libra Nodes are live on Pre-Mainnet. Facebook’s Libra digital currency developers have also released a new roadmap that outlines steps towards its mainnet launch. According to a recent update from the Libra Foundation, published on October 2, while Libra is currently running as a testnet, Libra aims to iron out technical challenges prior to a mainnet launch, yet without an official launch date. The roadmap read:
“Launching the Testnet has allowed the team to quickly improve Libra Core by making it easy to troubleshoot, diagnose, and resolve software edge cases. The Testnet demonstrates Libra network functionality and provides early access to developers. Following the Testnet, we hope to have a successful launch of the Libra Mainnet.” Libra developers have also created a staging environment called the “pre-mainnet”.
This development environment is currently only accessible to partners, and partner nodes to allow them to connect to each other. Several partners have already deployed their nodes. These nodes are also communicating with each other. The roadmap also states:
“We expect to have more partners coming online shortly. We want to ensure the Libra network can meet rigorous performance benchmarks and overall system stability before opening access.”
Telegram’s TON network confirmed an October launch
Third up, it looks like Telegraph messenger will officially launch its TON Network in late October. According to Cointelegraph, in a message sent out on October 2 to the official TON Board on Telegram, the firm stated that original investors were informed that the blockchain network would launch later this month. It looks like investors are provided TON key generation software and will be required to provide Telegram with a public key to receive the Gram (GRM tokens – the platform’s native token by October 16th. You can find the entire source code for TON now available on GitHub. For those who are curious, in early September, Telegram released the TON testnet explorer and node software, followed by an alpha version of a Gram token wallet for iOS. In terms of Ethereum compatibility and smart contracts on TON, the TON network will be compatible with the Ethereum network; so here, users can port their Ethereum smart contracts to TON. TON Lab, a software startup managed by Telegram’s token offering investors, is currently developing a solidity compiler for its blockchain.
The Crypto Rating Council is born
A coinbase-led crypto ratings council raised controversial discussions from major industry players. It looks like Coinbase, Kraken, Bittrex, and other exchanges announced on Monday that they were establishing the Crypto Rating Council (CRC) to categorize how likely a cryptocurrency is a security. To give you guys an example, the CRC uses a 5-level scale, ranging from 1-5, with 1 being a clear non-security (such as BTC, LTC), and 5 being clear securities. Regrading the news, Jalak Jobanputra, the founder of Future Perfect VC, said:
“I believe tokenization is an important part of our future – and the sector will have to engage with regulators if that future is to be realized. Initiatives like this, if executed objectively, can help further the conversation and provide clarity.”
Meanwhile, others do not seem to be very supportive. Gary Goldsholle, a partner at law firm Steptoe and Johnson stated:
“That might lead to a situation where certain platforms have more information about certain assets than others do, which leads to an un-level playing field.”
To clarify the situation, Coinbase chief legal officer Brian Brooks confirmed that they are not giving traders legal recommendation, stating:
“You can think of our efforts as the foundation for an automated compliance tool, of which there are many in the financial services world”.
And there you have it, guys! What are your thoughts regarding all these different news pieces?
Do you think BitPay’s support of XRP will help the token reach mass adoption?
Are you excited to see the upcoming release of the TON network?
And are you a fan of the Crypto Rating Council? Do you like what they’re doing?
Please leave a comment right below to let me know what you guys are thinking.
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.