Apple unveils ‘Tap to Pay’ feature for seamless transactions between iPhones. It is based on a popular crypto project Ripple (XRP). And if true, this is a major shift in mass crypto adoption.
No wallets with unpronounceable addresses required.
According to a recent Binance post, Ripple released an ad to showcase how iPhone users could simply place their iPhones towards one another to seamlessly transact funds.
How it works? Well, if you've been an Apple fan for all these years, you won't be surprised. Apple is always looking for the ways to simplify advanced technologies. In this case, tech giant has unveiled a Payment Request API for its Apple Pay payment system. API is based on Ripple’s Interledger extension.
Ripple is one of the oldest and most influential cryptocurrencies out there. Though you probably don't hear as much about it as you do about Dogecoin or Ethereum. Not to mention the elephant in the room, her majesty's Bitcoin.
Yet, Ripple is often sees as a force that might provide such a necessary breakthrough in crypto's mass adoption.
Ripple is an open-source, peer-to-peer decentralized platform. Its main feature is a seamless transfer of money in any form. In other word, it's about fast exchange of any money, be it dollars, yen, euros, or cryptocurrencies like Bitcoin.
Ripple works on a consensus ledger rather than a proof-of-work system like Bitcoin. So Ripple's blockchain doesn't require energy savvy mining to function.
But Apple was probably enchanted by another feature that Ripple's blockchain possesses. of course, it's the blazing speed. Ripple transactions are 2nd fastest out there. Only Solana is faster. Yet, Apple chose Ripple. Probably because of the low fees and security, and the overall reputation that Ripple possess, as of now.
XRP holders are seeing Apple's decision as a sign of an imminent bull run. But XRP is yet to show market's reaction to the exciting partnership between Apple and XRP. At the moment of this writing, no surge has been detected.