BREAKING: XRP Goes Mainstream With Omni App Integration

CrowdConscious

Published in

The Cryptoverse

6 min readOct 22, 2018

Chris Coney’s ‘The Cryptoverse’ crypto podcast curation by CrowdConscious.

On Today’s Episode of The Cryptoverse…

Chris has hand-picked another 5 top crypto news stories for the day including:

the first ever way to get Ripple’s XRP without using an exchange,
a new batch of technical content on 0-conf,
some over-hype coming from TRON,
the IMF states the obvious about cryptos impact on the world financial system, and
a look a eosio vs ethereum segment focused on decentralised exchanges.

Watch the episode right here!

Episode Transcript, Notes & Links

Introducing XRP Cash Outs on Omni

https://blog.beomni.com/introducing-xrp-cash-outs-on-omni-2ec168d79821

Omni is this AirBNB style sharing app for renting out pretty much any household item and more.

You could rent my HTC Vive for a day to see if you like it before going and buying your own virtual reality setup, you could rent a 5 foot outdoor speaker for an event for a day, you could rent some power tools etc.

Because it’s a sharing app you are renting these things from real people in your local area rather than a structured rental company.

Their whole moto is ‘live lighter’ which kind of sums it up nicely.

Now their official announcement does say they received $25m of new capital from the Ripple team, so that’s probably why they have chosen to integrate XRP.

So now you will be able to cash out your rental income in XRP.

They say this is the first time consumers have been able to get XRP outside of an exchange.

It doesn’t say anything about being able to pay in XRP though, only cash out.

This for me highlights a clear trend for crypto adoption. It solves the problem where an app business needs to pay people in every country small amounts.

I’m thinking about IndaHash as another perfect example. By moving to Ethereum they instantly removed the need to even consider which country they were sending payment to.

To them they are all just Ethereum addresses, end of story.

So this very same use case is going to be tempting for all other sharing apps.

What we really need now is an Uber, Lyft or AirBNB to announce that their drivers or hosts can now get paid in crypto. Watch this space!

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Continuing With The Show!

Satoshi’s Vision Conference Recordings Are Up

https://www.youtube.com/channel/UCJHGWgmZdkQlZA28fuGfNmA/videos

There’s 3–4 hours of technical content here.

Yes, it’s Bitcoin Cash focused however what impresses me is that instead of just saying “0-conf” doesn’t work and walking away, they had an entire conference focused on discussing HOW to make it work.

So they are coming from the mindset of possibility and innovation for the benefit of the cryptocurrency user, which I will always appreciate.

And just to make sure we are all on the same page, 0-conf is short for 0 confirmations which solves that problem where you send some Bitcoin to an exchange and they make you wait for 3 or even 6 confirmations before the money shows up in your account.

More hot air from the TRON project which is a shame after I praised their integration with BitTorrent the other day

https://cointelegraph.com/news/confirmed-baidu-and-tron-to-cooperate-on-cloud-computing-resources

I had a feeling this was hype which is why I didn’t report on the rumours going around.

About a week ago Justin Sun Tweeted out hinting at a secret “partnership” with an “industry giant” that is valued at “tens of billions of dollars”.

It sounds out they are just going to be using Baidu’s basic cloud computing infrastructure “to build, operate and debug blockchain projects”.

Look, I’m a veteran of marketing so I understand the need to turn anything into a PR opportunity.

However there is a line that is crossed when marketing becomes clearly misleading.

“Valued at tens of billions of dollars” was intentionally vague so that we would think the deal was worth tens of billions rather than that being in reference to the value of Baidu itself.

If you accused Justin Sun of being misleading, he could easily blame you for interpreting it wrong and get away with it.

You know I’m an EOS fanboy and one of the reasons is that you don’t see block one doing stuff like that. You can look at their news section to see how they take a much more professional approach.

That to me betrays the different audiences they are each appealing to.

Justin Sun’s teaser is an appeal to a less sophisticated audience while Block.One appeal to to corporate leaders.

IMF: Rapid Growth of Bitcoin and Crypto Will Impact Global Financial System

https://www.ccn.com/imf-rapid-growth-of-bitcoin-and-crypto-will-impact-global-financial-system/

If there is one thing I hate in the crypto space it’s when people who still live in the old system state the friggin obvious.

You’re damn right it will impact the global financial system.

I’d say replacing it can be considered as making an impact.

It says:

“Continued rapid growth of crypto assets could create new vulnerabilities in the international financial system.”

… they mean expose vulnerabilities not create them, they are already there.

The valid point they made is with regards to security. The main reason people keep losing money in crypto is more to do with their poor security practices than anything.

I have noticed this myself so I’ve started working on a new course dedicated entirely to secure best practices.

Battle Of The DEX: One EOS Decentralized Exchange Records More Volume Than All ETH Exchanges

https://www.cryptoglobe.com/latest/2018/10/battle-of-the-dex-one-eos-decentralized-exchange-records-more-volume-than-all-eth-exchanges/

There’s no need to belabor this one.

You can look on DappRadar and do this calculation yourself any time you want.

https://dappradar.com/dapps

Yes EOS is transacting more monetary value on it’s decentralised exchanges, but to be fair Ethereum is doing a greater number of transactions.

For example in the last 24 hours IDEX on Ethereum has recorded 11,687 transactions while NewDex on EOS has recorded 3,996.

One thing that is worth highlighting from the article is the difference in the amount of funding that has been put behind decentralised exchanges on each platform.

Ethereum has Bancor, which raised hundreds of millions of dollars. Then there is the 0x protocol on Ethereum.

So not only are they very well funded they have also had a significant head start in terms of time. Both of those projects have been around for at least a year.

Newdex is just some EOS based app that was launched shortly after the EOS network went live and is already 30% of the way to matching IDEX in terms of number of transactions.

From a business point of view, it’s much easier from a technical standpoint to build an app on EOS than Ethereum.

I think that fact alone gives EOS a huge edge since it will simply attract more apps.

Then by the law of averages EOS is more likely to have a handful of apps that go viral, just going by the numbers alone.

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