Significant Support For These 5 Altcoins From Binance!

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  • The world’s largest cryptocurrency exchange Binance has expanded its support for 5 altcoins, including XRP.

According to a recent announcement from the official Twitter account of the cryptocurrency exchange, Binance DeFi Staking XRP and Litecoin (LTC) Added support for Users can now “stack” their LTC and XRP from August 3, with up to 1.40 percent APR as a reward can win.

In the announcement made by the platform, Binance added to the list of digital assets supported by Locked Savings. Ethereum Classic (ETC), Ethereum (ETH), Lido Finance (LDO) and Optimism (OP) added and announced APR rates of up to 5%.

Blockchains like Litecoin use Proof-of-Work (PoW) where miners solve a computational problem to verify transactions, rather than a Proof-of-Stake (PoS) mechanism that requires market participants or validators to hold a stake or a minimum amount of coins to validate transactions in exchange for rewards. uses the mechanism.

Similarly, XRP Ledger (XRPL), Unlike other blockchains that use Proof-of-Stake or Proof-of-Work (PoW), it uses a consensus mechanism where selected servers known as validators agree on the sequence and outcome of XRP transactions.

Therefore, holders cannot stake their coins individually or through an exchange in a network in exchange for rewards. Binance offers a FAQ section on its website that explains the DeFi staking procedure for non-Proof of Stake coins.

As a result, holders cannot stake their tokens individually or through an exchange in a network in exchange for rewards. In other words, as a result of this move by Binance, the platform will provide a DeFi staking mechanism for non-Proof of Stake coins.

As reported by U.Today, Mercuryo, a global payments network, recently added support for XRP. An announcement stated that XRP has been integrated into the Mercuryo payment network, allowing customers to access the asset for cross-border payments.

As previously reported by KoinFinans.com, the global cross-border payment network Mercuryo has 4 altcoins, including the popular meme cryptocurrency Dogecoin (DOGE) and XRP, which is in legal battle with the SEC. added support. According to a statement by the platform, XRP has been integrated into the Mercuryo payment network, allowing customers to use the asset for cross-border payments.

RippleNet can now be used in a payroll application

Ripple’s remittance technology, RippleNet, is experiencing an increase in use cases, as evidenced by Level, a payroll application suite powered by Ripple partner Modulr.

In February, leading payment platform Modulr announced a partnership with Ripple to make international real-time payments powered by Ripple’s financial technology RippleNet.

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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.


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