About xrphd

XRPHD Coin Review: Mining Guide, Price & Analysis of XRPHD Cryptocurrency

XRPHD is a cryptocurrency that uses the Proof of Capacity. It offers users a distributed peer to peer payment system. This coin seeks to offer an alternative to Bitcoin and other top coins.  The value proposition of this coin is to provide a faster and lightweight cryptocurrency.

There are a lot of cryptocurrencies offering this exact proposition. However, this coin is not seeing as much success in the markets. The go-to alternative to Bitcoin offering fast transactions is Litecoin. XRPHD offers a different approach than Litecoin.

XRPHD uses the Proof of Capacity consensus algorithm. In this algorithm, miners use their free hard disk space to validate transactions. It is faster than the Proof of Work. This allows the blockchain to be faster and more robust.

This coin’s value is still very low. The developers should do a better job of getting its name out there. The only way it will see more success is through more adoption.

How XRPHD Works

XRPHD uses the Proof of Capacity algorithm to ensure the healthy development of the entire cryptocurrency. The developers have in place a long term incentive model. At the same time, it upgrades the PoC consensus to CPoC. This stands for Conditional Proof of Capacity.

However, the developers do not say what benefits come with this upgrade. But they believe that it greatly improves transaction times and ease of mining. Improved mining has a lot of advantages. It means that miners validate transactions faster. Consequently, the blockchain processes transactions more quickly.

Additionally, XRPHD developers state the mining of XHD coins is fair. There is no monopoly. Everyone can participate.  Further, the blockchain uses the Shabal encryption algorithm. This is a fairly heavy and slow encryption compared to other SHA-256 algorithms. Still, the developers do not believe this affects the mining difficulty of the blockchain. They say that this algorithm is perfect for the Proof of Capacity consensus.

Further, the developers believe that XRPHD will support cross-chain transfers. This is because the PoC consensus can derive more symbiotic sub-chains.

Can Investors Mine XRPHD Coins?

Yes, anyone can mine this coin. The coin that powers this blockchain is the XHD coin. The blockchain uses the Proof of Capacity consensus. Here, validators use the free space of their hard disk to validate transactions.

This consensus is relatively easier to mine than the Proof of Work consensus. The proof of Work requires miners to solve cryptographic equations to create the next block. This happens during the mining process.

However, in the PoC, things are different. The algorithm starts by storing a list of possible solutions on the mining device’s hard disk. This happens before the mining begins. Consequently, the miner only retrieves the correct solution during the execution phase.

The larger the hard disk space, the more possible solutions it can store. Hence, the better chances of successfully mining a block.

The mining process is ASIC resistant. Therefore, you can mine this coin from a lightweight personal computer. This is in line with Satoshi’s vision for blockchains. He intended for everyone to be able to mine from whatever computer they have.

The team behind XRPHD

The official website for XRPHD does not introduce us to the people behind the project. They operate from an anonymous position. However, the team shows a lot of dedication to the project. Hence, they get the benefit of doubt from the community.

Luckily, the team is also on multiple social media platforms. They are engaging and always ready to answer anyone’s questions. You can find the team on Twitter, Reddit, and Facebook. Additionally, you can email them for support at [email protected].

XHD Coin Performance

The coin that powers the XRPHD blockchain is XHD coins. This coin has a terrible performance in the markets. There is no data on its market cap. This means that the market cap is too low to list anywhere.

This means that the coin does not have high adoption. Additionally, it means the coin does not have high liquidity. It will be hard to sell this coin if you have it in your portfolio. Additionally, there are not many merchants that will accept payments through XHD coins. The development team needs to do a better job of bringing this coin into the hands of the public.

Privacy and Security

Generally, blockchains are very secure. They contain distributed nodes. This means that there is no central database to attack. Additionally, the distributed nodes contribute to keeping the network secure. This is one of the many advantages of blockchain technology.

Still, blockchains do face security threats. It is the job of the developers to ensure that this does not happen. XRPHD developers take security very seriously. They have in place excellent features to keep out hacks.

First, the PoC consensus makes the probability of 51% attacks extremely low. This is one of the most prevailing problems with blockchains.

Additionally, miners play a critical role in maintaining security. Just like in other blockchains, miners validate transactions on the blockchain. The miners then record these transactions on the distributed ledger. Here, they remain immutable. No one can alter them.

On top of this, the network has cryptographic and encryption algorithms to keep out hackers. All these make it computationally expensive to perform a successful attack. It is cheaper to use computational power to mine for rewards.

Our Take on XRPHD

XRPHD is offering similar services as many other coins in the market. While it has a great value proposition, the adoption rate is not appealing. There are barely any XRPHD coins in the market. Additionally, there are no merchants that accept this coin as a payment method.

Therefore, this coin is not useful to have. It will be impossible to sell. Additionally, you cannot pay for anything with it. There are more established coins in the market offering the same services. While the value of this coin may go either direction, indications suggest that the value will stay down.

Advantages

• XRPHD offers a fast and secure payment method.
• XRPHD is easy to mine.

Disadvantages

• This coin does not have high adoption.
• There are not many exchanges to buy the coin.

How to Buy XRPHD Coins

Finally, if you like this coin, then go ahead and buy it. There is only one exchange that has this coin listed. You can buy the coin on the GoPax, or Bitfinex exchange. The price of the coin is $0.00000507 at the time of writing this.

You will need a wallet to store your coins after buying. You can use the XRPHD proprietary wallet for this purpose. It is available on Mac OS, Windows and Linux.

Final Verdict

This coin has a great value proposition behind it. However, this is never enough in the market. Any coin needs to prove its concept before the community accepts it. Sadly, this coin is failing in this. It has no adoption, and the circulating supply is unknown. There are barely people using this coin.

Therefore, as an investment, this coin is a bad idea. There is no indication the value will go up. There is stiff competition in the market. Many users will go to better-established coins like Litecoin instead of XRPHD.