We are all aware that XRP is in serious trouble at this time as the SEC filed a Lawsuit against ripple, which affect XRP so badly that now everyone is feared to use XRP as the price is continuing to decline, major exchanges like Coinbase & Bittrex delisted XRP for US. Which makes people explore the possible replacements of XRP.
In this article, we will explore the best possible alternative to XRP with so many great features which lacks in XRP.
Capabilities of Alternative
XRP promotes itself for speed and low cost transactions, it’s main requirement for alternative blockchain that they should able to process the transaction fast and also they should be able to process the transactions at low cost, the problem of centralised system is always a concern when you choose XRP as it’s not open for all, so if Alternative is decentralised then it will be an great option.
Algorand is perfect alternative
I have tried to find a great replacement for XRP but there are only a few which meet the criteria but not as good as Algorand. I find algorand as perfect replacement with so many great extra features which gives you more options when you choose Algorand,
Algorand is Fast…
Talking about speed which is the main feature of XRP, Algorand is also as fast as XRP. Algorand can handle 10k transactions per second which means it can handle millions of transactions a day, if you still thinks low then 2021 is the year when the speed is going to increase like hell to 47000 transactions per second, can you imagine that speed when you know that ethereum is only capable of 32 transactions per second.
Low cost transactions,
The second thing why people used XRP is the low cost transactions, but did you know that on algorand the cost of an single transaction is only 0.001 Algos which is really low when you consider any other blockchain it’s not even a cent in terms of price.
These two things are the core of XRP, but this is not the end for Algorond’s long list features……
Algorand is decentralised
From the very beginning one of the core principles of Algorand is to make a decentralised blockchain unlike centralised blockchain like XRP. In Algorand you are always safe when you hold Algos in your wallet & recently Algorand proposed a proposal for further decentralising the blockchain by also making Algos governance token as well. Means if you own Algos then you are also in governance if algorand.
DeFi compatible
If you remember then recently XRP is forked which creates FlareFinance only to make it DeFi compatible so there will be an alternate version of XRP by FlareFinance which will be DeFi compatible, but talking about Algorand then it’s in next level in DeFi is fast, Scalable, & secure which also lakes in DeFi leader blockchain at this time Ethereum. We are talking about replacement of XRP but in this case it’s also the best Alternative of Ethereum.
Staking rewards
Believers hold their tokens for very long terms but if you are XRP believer and holding it for long term then the number of tokens are going to be same for the period but on Algorand if you are holding Algos in your wallet without any lockup’s still you an earn more than 7% of interest on your holdings possible any because of PPoS( Pure Proof of Stake). Which will increase your holdings without any effort required by you.
Growing list of partners
XRP is focused on payments and tried to partner with Banks and in this long journey the only break- through is partnerships with MoneyGram for which they are paying them every quarter to use their product.
On the other hand if you look at Algorand then they have a long list of partners including government & public sector organisations & Stable coins like Tether(USDT) and USDC by circle pay are launching on Algorand Blockchain. Only this year in 2020 500+ organisations are building with algorand which is real value when you compare with XRP.
Conclusion
We have compared Alogrand with XRP with its core features like high speed & low cost transactions and Algorand is great in the comparison but there are long list of features which lacks in XRP and Algorand is innovative in the field and best in the field. So the conclusion of the post if you are finding an alternative if XRP then Alogrand best choice in every field which gives you more value in low price which means it’s also a great investment compared with XRP.