Ripple Exceeded Its Expectations, Billions of XRP Were Transacted in Seconds
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For each blockchain network, there is a way to create an upgraded version of it. Ripple has once again demonstrated that it deserves to be in the midst of the most advanced crypto projects.
Blockchain network needs broad coverage to grow. Ripple once again showed that its network is a strong one and really deserves all the positive titles it owns. What matters is that the platform respects what is said on the website and indeed offers the opportunity to make XRP transactions at super high volumes, with very small commissions and in a short time. These three features conclude the goal of each crypto project.
As reported by ZyCrypto, two high volumes XRP transactions took place recently. $ 760 million and 4.6 billion XRPs were transferred within the Ripple network in just seconds.
You can see the details here:
Transaction Type: Payment
Amount: 2,139,999,979 XRP
Fee: 12 drops (0.000012 XRP)
Sender: rHYTJDFrbCU1i2yCENTg9yjUrHHGaYTB4D
Sender Balance: 20.998428
Receiver: r93oSNBKuFjuKt8GxhF8VYaGzzwsNDPaX5
Receiver Balance: 2,140,000,078.993
and
Transaction Type: Payment
Amount: 4,668,132,964 XRP
Fee: 12 drops (0.000012 XRP)
Sender: r9kkWNia8PmpR44L7mWZn33Hpff3CCzLjA
Sender Balance: 20.980988
Receiver: rDbWJ9C7uExThZYAwV8m6LsZ5YSX3sa6US
Receiver Balance: 4,668,133,063.993
In the above mentioned cases, the fee per transfer was roughly 0.000012 XRP or around $ 0.33. In other words- very cheap.
These two transactions show us the capacity of Ripple and its technology. These are two examples of the super high level of scalability. If you’re asking why the costs are low – this is because the network has the ability to handle large transactions, and most important- to process them.
As stated again by ZyCrypto, here’s what a few participants of the Ripple community commented on the two transactions:
“Could be nothing, could be beginning of something, could be exchanged moving money around…. but around 6.8billion XRP just moved on the ledger in the last 30 minutes. Thoughts as to who/what/why? Pure speculative of course but speculation can be fun on occasion.”
“The second transaction again the source rHYTJDFrbCU1i2yCENTg9yjUrHHGaYTB4D is likely a founder as it has been mentioned before years ago as part of the block of addresses in control of either the founders or Ripple. Probably it’s Chris again? No idea about the destination r93oSNBKuFjuKt8GxhF8VYaGzzwsNDPaX5. Both destination addresses sat pretty much unused since they were activated on Dec 1st 2017.”
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