- XDC Token is the New Generation Token That Might Kick XRP and Bitcoin BTC Out of the Market
- XRP Has Been Having Several Problems Over the Last Years Over Regulatory Uncertainty and Price
XRP News Today – There is a new token in town and it is seen as the new generation XRP and Bitcoin BTC. The XDC token was launched three days ago and it might pose more of a threat to Ripple XRP than many other financial altcoins that are currently in existence. Creators of this token claim that it is a new generation Bitcoin BTC and Ripple XRP. Is that just a hype to drive sales or is this new token worth its salt?
XRP News Today – XDC Vs XRP
XDC was launched on the 20th of October on Corda, a public blockchain network. The CEO of Corda, Richard Crook is running the XDC project from a United Kingdom based cooperative. Keep in mind that Corda also supports the XRP token so they are more concerned with changing the world than putting both tokens against each other. The Cordite society isn’t just trying to change the global financial system. They are trying to fix many of the flaws in the cryptocurrency industry as well.
XDC is the regulatory-friendly brother of XRP. The initial supply of the XDC tokens will be one million but others will be added eventually. XDC meets all the regulatory requirements that XRP doesn’t. There is nothing about the token that will make regulators tag it as a security while the XRP security status is still not clear. The token will be created based on the regulatory framework in the United Kingdom for decentralized finance.
The Corda distributed ledger will distribute tokens based on membership. So, all the members of the Cordite society will get the XDC tokens first. This includes any legal entity that uses the Corda node. It will also use a unique governance model. The uses will be able to make decisions regarding changes on the XDC token. Crook said that this governance method will allow the decentralized finance sector in Corda to work in line with the Financial Action Task Force. In his words;
“Regulators have set the requirements for what a digital currency needs to be, and that’s exactly where XDC fits in,” said Crook. “It meets the requirements of most jurisdictions as a digital currency and is therefore a step ahead. We’re a next-generation Bitcoin or XRP.”
XDC will serve as a store of value, a unit of account that will be used to stimulate participation on the network, serve as a medium of exchange, and to support developers in the community. XRP has been struggling for the last three years. So, facing competition might not be what’s best for it right now. With the price of the XRP token and the XRP army losing members, things need to improve in the XRP ecosystem.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
