Ripple News Today – XRP Might be Next in Line to Become a Privacy Token as Research Into Anonymity Kicks Off – July 21st, 2020

XRP2
  • XRPL Kicks Start Research on Making XRP a Privacy Token 
  • Ripple XRP Picks Up the Pace and May Cross the $0.2000 Level Before the End of the Day 

Ripple News Today – Anonymity is one of the key features that make a cryptocurrency amazing. However, not every cryptocurrency promises full anonymity. Recently, Professor Stefanie Roos started researching how to make XRP a privacy token by improving anonymity on the XRP Ledger. The research is being funded by Ripple’s UBRI initiative. Another key feature that they are working on is data protection on the XRP Ledger. News of this research has come just in time. Just last week, several cryptocurrency owners on Twitter lost all their tokens to hackers. This only went further to prove that centralized blockchain systems are vulnerable.

Ripple News Today – Will XRP be the Next Privacy Coin?

Publishing his findings on a blog post on Ripple’s official website, Roos, who is currently a professor at the Delft University of Technology Netherlands, said that many people see Bitcoin as a blockchain that offers sufficient anonymity but Roos said that the case is different in reality. Part of the block post was as follows;

“Because you don’t have to enter your real name, people believe that Bitcoin is very privacy-preserving. But when someone keeps reusing the same information, it’s possible to track everything they do. If you can link that profile to a real person then you can see all their activity.”

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.301
2.70%

A while ago, Roos developed SpeedyMurmurs, a peer-to-peer system that works similar to the Bitcoin Lightning network. So, it’s not a surprise that he is now working on making XRP a privacy token. Since XRP is faster, cheaper, and more flexible for online transactions than Bitcoin, making it a privacy token will make it even better. Roos said that she is working on temporal anonymity. In her words;

“Think of systems where anonymity is temporal. You get privacy for the time that you need it. If you want to have transparency, later on, you can reveal the relevant cryptographic keys to demonstrate that you complied with regulatory requirements, show off your high-quality suppliers or to prove a patent case.”

Ripple XRP Picks Up the Pace and May Cross the $0.2000 Level Before the End of the Day

In other news, the Ripple XRP token has been struggling to make significant progress against the USD. Unfortunately, the move above the $0.2000 level stalled at the $0.1900 level. At the time of writing, the price of the token was $0.199206. It is up by 0.82% against the USD and down by 1% against the price of Bitcoin BTC. The trading volume over a 24 hour period is $921,436,773 and the market capitalization is $8,926,826,354. There is a chance that the token will retest $0.2000 today.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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