Here it is again: the cryptocurrency market has collapsed once again by several percent, giving investors another chance to either average their positions or buy new assets to their portfolio at a great discount.
On the night of November 9, all major coins simultaneously lost their value — such a sharp drop has not occurred since June 2022. For example, Ripple, which was trading around $0.50 the day before, suddenly fell to $0.30.
That’s why we decided to tell you about two good-looking cryptos that are definitely worth your money! So here’s an HBAR versus XRP comparison to help you decide which you should buy.
What Do We Know About Hedera?
Hedera is a truly revolutionary project that aims to create a qualitatively new technology that is an alternative to the ubiquitous classic blockchain format. It is based on DAG technology, which allows you to record operations, not in a chain, but in the form of a specific grid created using an acyclic graph.
The creators of this project openly say that classic blockchain projects have no chance of mass adoption, use, and implementation in the economy. Therefore, Hedera is going to occupy this niche.
There are no miners in the project structure, but there are nodes that function in a completely different way than their “colleagues” in classic blockchains. When a node receives a transaction within the Hashgraph network, its state changes. Immediately after that, it randomly reports this to several neighboring nodes. And they spread the data to their neighbors, and so on. This communication is completely random and asynchronous.
As a result, there is continuous communication between the nodes that exchange such states, consisting of data about “what, when, and by whom was undertaken.” At some point, thanks to this mechanism, a consensus is reached.
Things You Need to Know About Ripple
Ripple calls itself a cryptocurrency and a payment network. That’s why it has earned a reputation of the “cryptocurrency for banks.”
Ripple is a network used to conduct money transactions and exchange currencies, which is basically a system for making money transfers that can be used by banks and financial institutions. This technology was the first blockchain project to start developments in the DeFi area.
In addition to the Ripple network itself, there is the XRP cryptocurrency, designed to work within the Ripple network.
The main purpose of the network has always been to function as a currency settlement and asset exchange platform — similar to SWIFT.
The Ripple platform works with the following:
- fiduciary money;
- allows customers to integrate the protocol into their own systems.
Back in 2017, the National Bank of Abu Dhabi started using Ripple technology for some transactions, in particular for cross-border ones.
HBAR vs. XRP: Benefits
The advantages of HBAR and XRP are numerous. Some of the most prominent features are:
- high transaction speed;
- perfect network security from DDoS attacks;
- low commissions;
- fair work for all participants (no privileges to those paying higher fees).
Finally, at the output, we get two technologies that are about to enter the top five most used cryptos.
HBAR vs. XRP: Disadvantages
However, some experts stress the downsides of these networks:
- Dubious decentralization. Due to the presence of validators, their systems are somewhat centralized.
- Too many coins in circulation.
- General risk. Like any cryptocurrency, both HBAR and XRP are subject to certain risks as the cryptocurrency industry is still relatively young.
Is it really that bad? The choice is yours.
What Should Investors Choose?
So we have a relatively young Hedera on one side and an experienced battler with years of successful operation — Ripple — on the other.
At the time of this writing, XRP is considered a rather manipulative asset whose emission is mainly in the hands of creators. HBAR is still too young, yet promising to multiply your deposit in the next bull run.
At the end of the day, you can always turn to the time-tested TRX and LTC — you can exchange them here: https://godex.io/exchange/trx-to-ltc.
Our recommendation for investors would be to diversify and study each project closely.