XRP (XRP) Rating = 960/1,000 = 96.0%
Technology (0 to 300) = 275
- Speed (0 to 50) = 40
Transaction times of 1 to 5 seconds and a max currently of 1,500 transactions per second is damned impressive. But there’s still room for improvement.
- Cost (0 to 50) = 50
1 drop is the cost for an XRP transaction which is about 1 millionth of a dollar cent. It doesn’t get any better than this and it shouldn’t, any cheaper and it is free and that would bring new challenges due to spam fake transactions.
- Scalability (0 to 50) = 50
With Cobalt promising even faster transactions and up to 50,000 tps we are already preparing for incredible speeds. Throw in Coil, ILP and all the other developments currently ongoing and XRP seems an unstoppable beast!
- Reliability (0 to 50) = 45
Millions of transactions over many years and not a single issue to date. We would give maximum points for this but security reliability never be underestimated and can always be improved upon.
- Environmental Impact (0 to 50) = 50
XRP is the greenest cryptocurrency and also more environmentally friendly that Visa, gold, the dollar or any other form of currency.
- Decentralisation (0 to 50) = 40
Ripple controls only a small fraction of the XRPL validators and is by far more decentralised than any of its peers. The transparency in escrow releases of XRP into the market is impeccable and something all other cryptos should be doing. Open source and with dozens of companies building on the XRP platform means this ledger is going to grown and decentralise exponentially in the future. People also seem to forget that Ripple is not just one single entity owned by a handful of people but has angel investors and hands on partners including Santander, SBI, Google, Standard Chartered, Accenture, Seagate and many more.
The fact that Ripple does have a large say in the way things are currently moving forward loses them points here but actually is something we should be grateful for. They are pushing crypto into mainstream and are a huge credit to the entire cryptosphere.
Security (-250 to 0) = -15
- Reorg, 51% & Brute Force Attack (-100 to 0) = -5
An attack on XRP is virtually impossible but -5 points to keep them on their toes! Security cannot ever be underestimated.
- Potential For Being Banned (-100 to 0) = -5
XRP is not a privacy coin and doesn’t rely on damaging proof of work. They also work closely with all the governments, central banks and regulators and is therefore the safest crypto in the world in this regard. But never say never.
- Network Vulnerabilities (-50 to 0) = -5
XRP is as secure as they come. But nothing is 100% so no resting on their laurels, they need to keep on top of this.
Use Case (0 to 500) = 500
- Initial Main Use Case (0 to 100) = 100
XRP is a bridge currency. It works and it is the biggest single use case in crypto.
- Mainnet Live (0 to 200) = 200
The XRP ledger has been live for years and works impeccibly.
- Additional Use Cases (0 to 100) = 100
R3 Corda, Coil, xrptipbot, Xumm, Forte, Codius, etc etc etc. XRP can handle any use case any other cryptocurrency or blockchain project can think of. And already a great many of them are being worked on.
- Additional Working Products (0 to 100) = 100
Coil is already handling billions of transactions, xrptipbot is working flawlessly, XRPayments was a beta and scaled down version of the upcoming Xumm yet still works like a dream. The list goes on and on.
Core Team, Partnerships & Developers (0 to 200) = 200
- Core Team & Developers (0 to 100) = 100
The Ripple team is a who’s who of the greatest minds in technology, finance, security, business, banking, leadership, politics and more. Just so damned impressive.
- Partnerships (0 to 100) = 100
No other crypto can come close to XRP in terms of the number of partnerships they have ongoing. In fact combined the other 3,000 or so cryptos TOGETHER don’t even come close.
Visit the following page for an overview of all the Wise Crypto Ratings.