Ripple recently confirmed 7 new partners piloting their xRapid product, which is designed to be used by enterprises as a reliable liquidity option for servicing international payments.
Traditionally, Ripple offered their clients 3 products: xVia, xCurrent, and xRapid.
xRapid is the only product of the 3 Ripple offers with a built-in use case for their native token, XRP. For crypto investors, use case is king, and Ripple is making moves to improve their own.
RippleNet: The Convergence
In efforts to expand XRP usage, the Ripple website was updated, and mention of their 3 individual products was heavily reduced. The main menu on the website allowed visitors to access each product by name in the drop down menu labeled “RippleNet.”
Since the update, the website has the same RippleNet drop down menu, but the labels offered after hovering over it have changed to Global Payments, On-Demand Liquidity, and Join the Network.
While the updated website isn’t confirming an expanded use case for XRP, it is creating a more precise “funnel,” showing the benefits of RippleNet as a whole. The 2 products they offer that do not require XRP, xVia and xCurrent, give users the option to use XRP to settle transactions instantly.
Optional Use for XRP
Right now, the website presents xVia and xCurrent in terms of access. xVia is offered as “Standard Access,” while xCurrent is labeled “Full Access.” After listing the benefits of both on the Join the Network page, visitors are directed toward a box offering “Access On-demand Liquidity with Digital Assets.”
The page goes on to describe:
Both access levels have the ability to settle transactions instantly through XRP, a digital asset, used in Ripple’s xRapid product. Eliminate pre-funding in foreign accounts and send payments 24/7 using XRP.
By eliminating the separation of their services, Ripple is able to offer a multi-faceted solution simply called RippleNet. Since there hasn’t been any official announcement on the change, it’s difficult to know for certain what it all means. It looks like the Ripple team is aiming for a more seamless segway into XRP use, although of course there’s more work to be done.
At the time of writing, the website seemed to be having some issues, suggesting that the team was busy working on the back-end of the site.
Whether there are a few bugs that need to be found or more updates to be made, there was another piece of information that made a surprise appearance in the most recent iteration of the website.
Throughput Capacity of 50,000 Transactions per Second
Ripple is now advertising to potential clients that their solutions are able to handle 50,000 transactions per second, which would potentially double what Visa is capable of, who claims to be able to handle 24,000 TPS at max capacity.
It’s worth noting that these figures are mostly theoretical, and are based on what companies’ infrastructures could handle if the need arose and there weren’t any unforeseen setbacks.
While Visa doesn’t need to handle 24,000 transactions per second, if blockchain technology and the Internet of Things collide, throughput capacities could become a vital metric in the years to come.