XRP’s Potential as a Global Utility Asset for Banks
Despite Ripple’s partial win against the SEC, XRP still has to meet the community’s expectations in terms of price. However, there is still optimism among enthusiasts about its growth potential. One popular XRP influencer, Alex Cobb, recently shared data about the XRP Ledger’s capabilities that could contribute to its success.
Cobb highlighted that the XRPL can handle 3,400 transactions per second (TPS), demonstrating the blockchain’s ability to process a significant number of transactions. He emphasized that XRP facilitates over 293 million transactions daily and can handle 204,000 transactions in one minute, making it a valuable utility token for traditional financial institutions.
This perspective was supported by CryptoSkeeter, who compared XRP’s transaction speed to that of Usain Bolt, the famous marathon runner.
Debate Over XRP’s Transaction Speed
However, not everyone agrees with Cobb’s claims. Daniel Keller, an XRPL ambassador and CTO at Eminence, disputed the transaction speed quoted by Cobb. Keller clarified that the 3,400 TPS figure is theoretical and can only be achieved under controlled laboratory conditions. In reality, XRP’s transaction speed ranges from 500 to 700 TPS based on available data and experience.
This perspective was further supported by David Schwartz, Ripple CTO, who confirmed Keller’s claim in a recent tweet. Schwartz stated that XRPL can sustain about 300 to 500 TPS, contradicting previous claims made by XRP’s development team.
Hot Take: XRP’s Growth Potential Amidst Varying Opinions
The debate surrounding XRP’s transaction speed highlights the differing opinions within the crypto community regarding its long-term growth potential. While some believe in its ability to become a global utility asset for banks, others question its scalability and real-world performance. As the XRP ecosystem continues to evolve, it will be interesting to see how these varying perspectives impact its future adoption and value.
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