Is it fitting the Ripple Ethereum compare? But we do not compare, the question is different.
Recently, for the second time in its history, the group, not formally associated with Ripple, is seriously trying to create tokens based on XRP Ledger for the initial coin offering (ICO). And if this project succeeds, it will allow XRP Ledger to become the second Ethereum, in terms of the popular platform for creating ICO.
“XRP Ledger is a decentralized, open source platform,” the Ripple spokesman said, “so that people can build whatever they want, but Ripple is not interested in promoting or supporting the ICO.”
Reasons for optimism
Despite this, the Brazilian group of sincere XRP fans launched Allvor, an ambitious and high-tech ICO. Similar projects were usually run on the Etherium. But many are already fed up with the ERC20 projects, as they have been too much promoted and therefore not very much appreciated. That’s why entrepreneurs are looking for something new to interest the investor. And since Ripple is associated with the solution of banking problems, then one can very well take advantage of this. And the association with one of the largest cryptocurrencies can attract attention and with it raise funds.
Allvor treats itself as
“THE FIRST CRYPTOCURRENCY RELEASED ON THE XRP LEDGER WITH AN EMPHASIS ON E-COMMERCE”
writes Cleyton Domingues, co-founder and employee of public policy and management in the Ministry of Economy, Planning, and Development of Brazil. Mr. Domingus, along with partners Sival Perez and Leandro Gonsalves, insists on “integrating XRP Ledger’s advanced technology with systems and protocols used in electronic commerce as a way to increase the efficiency of using cryptocurrency on a global scale,” describing XRP as ” The best and most efficient distributed database technology ever created. ”
Not everything is so smooth
But before Allvor there are some difficulties: for e-commerce solutions, it must have an infrastructure, not just the speed of transactions, and this requires money; Therefore, ALV will become a token that promotes this process. And users agreeing with the project will receive and use ALV.
At least one XRP enthusiast expresses strong skepticism about the prospect of Allvor. “The number of ALVs will be equal to the number of XRPs,” the commentator wrote, “However, Allvor will release only 5% for the initial release. Theoretically, all XRP owners can apply for Airdrop, in which case 95% of them will be excluded? ”
There is also a problem
“TELL THE THIRD ANONYMOUS PARTY HOW MANY XRPS YOU HAVE AND WHAT YOUR ACCOUNT IS. IF YOU DO NOT USE A PROXY SERVER, YOU ALSO TELL ALLVOR YOUR IP ADDRESS, BECAUSE YOU WILL NEED TO USE APPLICATION TO REGISTER. MAYBE YOU WILL DISCLOSE EVEN MORE INFORMATION ABOUT YOURSELF, SO FAR WE DO NOT KNOW HOW THE REGISTRATION WILL LOOK “
worried about the commentator.
And this is not the first time attempts to create a Ripple ICO. Last summer, Jon Holmquist launched a project, which was to be stopped two days later due to fears of the US Securities and Exchange Agency. In response, he completely retreated, writing: “I generally will not participate in the auction. I will not claim any of the PRX tokens. I think that I am legally prohibited from doing this in the US in accordance with the laws on the auction.”
In the last article, we looked will the banks like Ripple.