Unfortunately, there is a lot of discussion on price movement, yields, NFT collections, staking rewards, and other topics that drown out the crypto industry.
Most of the time, you meet people who are clueless about the investments they are making, let alone how ground-breaking and impactful the underlying technology is.
This post aims to tell you about and explain Ripple, Syntropy, and Chilliz, three new blockchain projects that are trying to change the way history goes.
Please note that this is not a recommendation to buy these currencies. Please conduct independent research and take calculated risks.
Ready? Move along!
- First, Ripple ($XRP)
- Chillliz Ripple Syntropy
What Exactly Is Ripple?
The Ripple payment protocol was created by Ripple, an American technology startup launched in 2012. Businesses are promoting the protocol as a tool for real-time gross settlements.
Cross-border and cross-liquidity payments are included in this. A distributed ledger handles payments across a distributed ledger, guaranteeing quick transaction times and security.
How Does Ripple Want To Change The World?
The SWIFT (Society of Worldwide Interbank Telecommunication) messaging system is the foundation of the present financial architecture for real-time gross settlements across international borders. Using SWIFT, secure transactions are transmitted to other banks overseas in pre-established formats.
Since this is just a message system, the bank that sends the money abroad must also make sure that there is enough cash in the currency for settlement in offshore accounts through correspondent banks in NOSTRO (Latin for “our”) accounts.
These are bank-held accounts in foreign banks. As a result, delays while communicating with the SWIFT system are expected.
The difficulty is twofold: cross liquidity and message transmission security, as is obvious. By offering a platform that incorporates these two components, Ripple offers a solution.
A distributed ledger on the blockchain ensures that transactions happen quickly, that transaction records can be checked by anyone, and that encryption is safe.
The further benefit is the on-chain liquidity Ripple offers with the $XRP token, a feature. In a nutshell, a bank will buy $XRP and send a payment through the Ripple chain to the counterparty bank, which will exchange $XRP for local currency. This is done in place of a bank making liquidity available overseas in its NOSTRO account.
This is ground-breaking since it eliminates the need for SWIFT, correspondent banks, and NOSTROs if the system is successful. disruptive
What Is Today’s Ripple Footprint?
Based on this analysis, 38 of the top 100 banks are connected to Ripple.
These include companies like Credit Agricole ($2,124 billion in assets), HSBC ($2,558 billion), and Mitsubishi Financial Group ($2,813 billion in assets).
Syntropy-$NOIA
Chillliz Ripple Syntropy
What is Syntropy, exactly?
The new layer zero platform for the internet is called Syntropy. In simple terms, Syntropy wants to replace the current public internet with a safe and effective user-centred network.
How Does Syntropy Want To Change The World?
There are a few issues with the current internet infrastructure that we, as users, never consider. For example, security and privacy are in danger; governance is difficult; there are performance problems; some areas lack reliability, and there is a significant issue with inefficient resource use.
As a basic illustration, the data you transfer through the existing internet is neither safe nor private because centralized authorities (servers) can see it. The internet is centralized and not user-driven in terms of what gets on it and what comes off it. Latency is a great illustration of how performance can be inconsistent.
Syntropy’s technology plans to add a blockchain-based layer on top of the existing internet infrastructure to reduce latency. This will be done by receiving and combining data packets before sending them on the most direct route to their destination.
A decentralized blockchain with validator nodes ensures that data is secure and encrypted. This puts users in charge of the internet instead of centralized systems.
This technology will greatly affect how the internet changes in the future, especially Web3.0, which wants most financial transactions to happen online.
A requirement for this is an internet that is quick, dependable, and user-centric.
What Is the Current Footprint of Syntropy?
The only thing Syntropy says about its presence is that they are working with 15 of the Forbes 500 companies, like Microsoft and Oracle, to develop and use new technology.
The market leader in sports betting, Entain Plc, has just been named as a client.
With a $40 billion yearly volume, they also own Ladbrokes, Bwin, Sportingbet, and BetMGM, among others. By looking at the effects, you can be sure that the Syntropy stack solves security, privacy, and latency problems for Entain’s fast-paced gaming empire.
Chilliz-$CHZ is number three.
Chillliz Ripple Syntropy
What is chilliz, exactly?
A blockchain network called Chilliz enables sports teams worldwide to make money off their fan bases.
How?
Fan tokens are the solution.
With the legal ownership remaining with the stockholders, fan tokens give fans a voice in the clubs’ operations. Socios is an app that serves as the user interface for fan tokens and engagement. Chilliz is the blockchain platform.
How Does Chilliz Want To Change The World?
Sports entertainment faces serious problems with fan dissatisfaction. As a result, there has been an increase in supporters’ faith in some nations to help close any potential communication gaps.
The issue is that these organizations representing fans have failed to make a significant change. The rationale is that they are only useful communication tools and have no other impact.
Some soccer teams in Spain and Germany have switched to a joint ownership structure where fans can own a portion of the entire team and have board participation.
This is a wonderful idea but encourages centralization because not everyone may join the board. Supporters must select one of them to serve as their representative.
Additionally, because the majority of sports teams around the world are privately owned, this approach cannot be scaled.
On the other hand, Chilliz issues tokens for fans that don’t grant any ownership rights. The token holder, however, has access to, for instance,
Direct communication and feedback via surveys and polls-select your game’s MVP, decide on the uniform design for the upcoming season, tell the manager who should be the game’s three substitutes, etc.;
Early access to merchandise and discounts;
priority for event ticket distribution;
As is obvious, each person’s voice is being heard in this instance, and the token’s owner also benefits from being heard. However, the fact that this is a brand-new avenue for supporting athletic teams is the finest part.
What Is Chilliz’s Current Footprint?
The Chilliz platform now supports 52 fan tokens. These include well-known football teams worldwide, including Barcelona, Paris Saint-Germain, Atletico Madrid, Inter, Manchester City, and Juventus.
Similarly, the platform hosts the Alfa Romeo Racing squad and the Roush Fenway Racing team. The UFC has a unique token as well. Last year, the company entered the cricket industry by signing IPL teams Royal Challengers Bangalore, Kolkata Knight Riders, and Punjab Kings.
Conclusion
Again, I’m not trying to convince you to buy these coins. That is not what we do here. Instead, this is for your learning and knowledge advancement.
I’ll say this as an investor: it’s crucial to consider your coins from a basic angle. By doing this, you may concentrate on creating winners for the next bull cycle.
Rest easy knowing that you’ve already made a big step toward success if you can find disruptive and useful projects.
Invest wisely!