CasinoCoin Moves to Ripple Blockchain

The CasinoCoin Foundation is conducting a coin swap, which concludes on February 14, 2018 at 12:00 GMT, in order to move to a new Ripple-based blockchain
14 February 2018   1014

CasinoCoin is an open source, peer-to-peer cryptocurrency designed for the regulated online gambling industry. CasionCoin has built in wallet tools that enable transparency and open transactions, and the technology which aims to operate at world-class speed.

The CasinoCoin Foundation have announced that they will initiate a coin swap to move CasinoCoin to a new Ripple-based blockchain, aiming to bring a lot of advantages for the users.

The coin swap began on November 25, 2017 and is scheduled to conclude on February 14, 2018 at 12:00 GMT.

Casino Coin New blockchainCasinoCoin New Blockchain

Currently CasinoCoin is based on Litecoin blockchain, but moving to the Ripple blockchain should bring such advantages as faster transaction times, increased coin supply, advanced features like KYC (Know Your Customer) and AML (Anti Money Laundering).

Swap Ratio: 1:1000 (Old to New Coin Swap), the old CSC Blockchain renamed to CasinoCoin Classic (CXX)
Transaction fee: 0.001 CSC

At the moment of press, these are main market parameters of CasinoCoin:

Average price: $0,001951
24h volume: $40 109

Crypto Won't Replace Fiat, XRP CEO Says

But head of Ripple believes that cross-border payments are the sphere in which cryptocurrencies can be an ideal solution
05 September 2018   435

Ripple's CEO Brad Garlinghouse is convinced that the fiat currency will not lose relevance in the near future and called "senseless" the possible replacement of traditional currencies with digital assets. The future of crypto currency lies in cross-border transactions, Garlinghouse said in the Stanford Legal podcast. This is reported by CoinSpeaker.

I don’t think we’re going to be buying coffee at Starbucks with Bitcoin or XRP anytime soon. I think we’ve got to ask ourselves: What problem is that solving? You were talking about paying for the day spa bill and how you do that, but I think in some ways the friction – fiat currency, the US dollar in this case works pretty well, and so we need to make sure it’s better than that before we talk about it as a currency…

Brad Garlinghouse

CEO, Ripple

According to Garlinghouse, cryptocurrencies can be used in the st way in international payments and as a means of preserving value. This is especially true of crisis and weak economies, with a high level of inflation. He noted that the average annual inflation of the currencies of countries outside the G20 is about 6%.

There are economies where the fiat currency is at best a weak currency. And in those contexts, if I were a consumer experiencing hyperinflation – would you rather hold a cryptocurrency or your fiat currency? And in a lot of those cases, you’re seeing people take their dollars, or not dollars, pesos of various sorts, and saying, ‘I’d rather hold this because it’s a better asset to hold in terms of its potential appreciation and lack of inflation.

Brad Garlinghouse

CEO, Ripple

The head of Ripple stressed that cross-border payments are the sphere in which cryptocurrencies can be an ideal solution. He also noted the Ripple, which allows to conduct international transactions "almost in real time". This will help many companies save time and resources.

We had one of the largest banks in Australia, the CEO told me that 40% of all of their consumer wire transfers result in a customer service phone call. The frustrating thing for the bank is not only do they have to absorb the cost of taking a customer service phone call, they also deliver the news that they don’t know wait a couple more days it’ll probably be there.

Brad Garlinghouse

CEO, Ripple

Earlier, the Northern District Court of California rejected a class action lawsuit filed by investor Ryan Coffey against Ripple Labs Inc. on behalf of everyone who bought XRP tokens after January 1, 2013. The company was accused of illegally manipulating the price of XRP.