Tag Archives: Trends

Everything You Need to Know About XRP and the Ripple Payment Network

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While many cryptocurrencies aim to decentralize the banking system, one currency stands alone in their attempts to collaborate with banks: Ripple.

In our past two articles, we’ve spotlighted the top 10 cryptocurrencies to look out for in 2018 and the top trends to know about to invest wisely in cryptocurrency in 2018. Both articles had one common topic: Ripple.

While Bitcoin was created to decentralize the financial industry, Ripple is the only digital asset actively working with banks to improve rather than undermine their operations. Ripple boasts the ability to process on average over 1,500 transactions per second, making it the fastest cryptocurrency on the market. Ripple has teamed up with Western Union, Santander, American Express, and more to test the fastest cross-border transaction network available.

The process of making cross-border payments is unnecessarily tedious. In the internet era, the only reason why a currency transfer should take a week to process is because of  outdated procedures. Ripple attempts to create the currency exchange for the digital age. While traditional international transfers require two banks, two reserve banks, two correspondents, and up to a week to process, Ripple offers a transfer method that reduces the time and costs of traditional methods while also offering less failure points and higher security.

Check out Team KoinOK’s Medium post for a smooth summary of how Ripple changes the traditional transfer process.

The other major difference between Ripple and Bitcoin lies in their ledgers. While Bitcoin has a completely decentralized ledger enabled by proof-of-work, Ripple is owned by a private company. Ripple’s internal ledger does not use proof-of-work, but rather a consensus protocol with an amendment system that enacts all amendments that receive 80% support from developers over the course of two weeks. Ripple’s ledger is internal and therefore centralized.

Ripple consists of two components: the digital currency (XRP) and an open payment network that facilitates the transactions. Ripple markets the payment network toward banks as a way of enacting real-time settlements. Ripple is designed as a currency-agnostic transaction system. In order to avoid a currency exchange, currencies are converted into XRP and then sent to the recipient. Unlike Litecoin, XRP are not intended in the long run to be used by consumers to purchase products, but instead to be a middle-man currency that enables instant transactions. XRP and the Ripple network are designed to create a currency-agnostic value web designed to do for currency transfer what email did for messaging.

Rather than take our word for it, check out this awesome summary by Ripple CEO Brad Garlinghouse:

WHAT IS THE CONNECTION BETWEEN THE VALUE OF XRP AND THE PAYMENT NETWORK?

The acute investor must ask: if the Ripple payment network is Ripple’s main innovation, then what is the value of XRP? The long-term value of a cryptocurrency will be dictated by the problem that it is solving. If Ethereum becomes the platform for executing smart-contracts for a massive corporation like Amazon, then that ensure it’s existence in the long run, improving its function as a  store of value. If Ripple becomes the main transfer network for banks, its existence in the long term will be ensured and the function as a store of value will be greatly enhanced.

BOTTOM LINE

The transparency of the team behind the Ripple network and their vision of the platform instills great confidence in its ability to maintain value as a currency. If Ripple can achieve its goal of creating an internet of value where banks can exchange currency as easily as information, then it will definitely have the staying power to outlast the alt-coins and attain significant value over the coming years.

Top Cryptocurrency Trends You Need to Know to Invest Wisely in 2018

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In December 2017, Bitcoin reached just over $19,000 per coin, its highest all time value. After a brief, precipitous decline to $7,000, the world’s most popular cryptocurrency is now making its way up around $10,400 as of February 26th, 2018.

If last year was any indication, 2018 will prove to be a major year in the further development and stabilization of cryptocurrencies.  Here are the top trends to look out for in 2018:

THE TRANSACTION PROBLEM

Slow transaction times and high transaction fees plagued Bitcoin in 2017. According to CoinMetrics, fees started 2017 averaging $0.30 per transaction and eventually peaked at over $40 in December. Bitcoin will implement several potential enhancements to its system designed to lower transaction fees in 2018.

SEGREGATED WITNESS PROTOCOL

The Segregated Witness protocol was first activated in August 2017. It is an upgrade to the Bitcoin protocol replacing Bitcoin’s block size and weight limit to allow for increased transactions and lower transaction fees. While adoption has been off to a slow start, 2018 should see many more wallets and marketplaces adopting the SegWit protocol, including Coinbase, who recently announced they have finished testing SegWit and begun implementing it for customers.

LIGHTNING NETWORK

First proposed by Joseph Poon and Thaddeos Dryja in January 2016, the lightning network is an overlay network which could enable long-term scalability and near-free transactions for Bitcoin. After two years of development by ACINQ, Blockstream and Lightning Labs, the Lightning Network should find more adoption in 2018.

RIPPLE ON THE RISE

Among our top Cryptocurrencies to watch out for in 2018, we featured Ripple. Ripple has  gained traction and value fast in 2018. Recently, Western Union revealed they have been testing the Ripple blockchain for cross-border payments. Ripple currently offers two main payment products for banks: xCurrent and xRapid. Over 100 banking clients are testing xCurrent, which does not use the Ripple coin. Western Union’s announcement makes them the fifth customer to test xRapid.

Ripple has always catered to banks. Ripple’s consensus protocol makes it more scalable than other major cryptocurrencies. While Bitcoin can process seven transactions per second, Ripple can process up to 1500 transactions in the same second. Ripple’s network is designed to trade any asset with any other asset. If Ripple can entrench itself as a payment processor for banks, its value may shoot way up in 2018.

REGULATION, REGULATION, REGULATION

Anybody with significant money invested into cryptocurrencies knows that perhaps the biggest threat facing cryptocurrency is government regulation. While the US has not instituted regulations, South Korea recently created a ban on anonymous accounts.  Governments all over the world are still in the process of developing regulatory measures. These regulatory decisions can make or break the future of cryptocurrencies.

Check out Bitcoin Magazine’s comprehensive rundown on how countries are regulating cryptocurrency across the globe.

WATCH FOR ALT-COINS

With cryptocurrency fervor at an all-time high, 2018 will no doubt see many new players enter the cryptocurrency game as well as current players making big moves. With over 1,300 alt-coins on the market right now, understanding how to properly research a coin is key. Below, check out our brief guide for evaluating a new cryptocurrency:

  1. THE TEAM: While Satoshi Nakamoto may have chosen to remain anonymous, many other cryptocurrencies are prioritizing transparency. By examining the team behind a cryptocurrency, investors can determine how serious a cryptocurrency really is. For example, having Steven Seagal as a brand ambassador does not contribute any value to a cryptocurrency whatsoever. On the other hand, knowing that Litecoin’s creator Charlie Lee is an engineer at Coinbase only further validates our belief in Litecoin’s capacity for growth.
  2. THE “WHY?”: What is it about a specific cryptocurrency that will ensure it will retain its value and significance in the long run? Bitcoin is the original and most popular cryptocurrency. Ethereum automates smart-contracts. Litecoin and Bitcoin Cash are designed for commerce. Ripple is attempting to establish itself with banks as a lightning quick transaction network. Many coins don’t offer any real long-term value. It’s vital to understand the key benefit of a coin in making the decision to invest.
  3. THE “WHEN”: How far along is the cryptocurrency in the development process? Is there an ICO? Are new features being released? Coins come and go, so it’s best to invest in coins with solid long term plans.

CONCLUSION

After a landmark 2017, all eyes are on cryptocurrencies in 2018 to see if they can sustain their growth or if it will prove to be a bubble soon to burst. It is an exciting time to be a wise investor!

App to the Future: Top 5 App Development Trends for 2016

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Over the next five weeks, the Mystic Media Blog will be launching a series exploring the top app development trends for 2016 and featuring apps that demonstrate the ways in which each trend can be creatively applied. While this article will introduce you to each of the top trends, be on the lookout in the coming weeks for our in-depth expansion upon each individual trend.

With apps having amassed significant popularity over the past few years, many businesses are looking to enter the arena and develop their own app. Some apps are designed to generate revenue on their own, while others are built to support internal or eCommerce business processes. One would be hard-pressed to find a business which wouldn’t receive a boost by a well-developed app.

As we embark on 2016, it’s vital to consider the future of app development when investing in the creation of an app. Here are the top app development trends to look out for in 2016:

1. Cross-Platform Development

A business cannot control the devices which its customers and employees utilize. Between smartphones, tablets, computers, and now wearable devices, it’s vital to create apps with cross-platform functionality to ensure they are accessible by the widest range of users.

2. Cloud Integration

The cloud represents a major technological advancement over the past few years. With Apple, Google, and Amazon all monetizing clouds for consumer use, expect cloud integration to rise in popularity in 2016. The cloud will allow apps to sync data from various devices, making them a major tool to aid cross-platform development.

3. Emphasis on Security

In 2015, several massive data thefts took place, including 87 million patient records from Anthem and 21.5 million security clearance apps from the U.S. Office of Personnel Management. The European Union is currently crafting a General Data Protection Regulation designed to strengthen and unify data protection. Security will be a major concern for app development in 2016, especially for large businesses and government agencies.

4. Internet of Things

The Internet of Things (IoT) has gained traction with the advent of wearable devices. IoT attracts value on a case-by-case basis with specific IoT components designed to solve a specific problem. For those unfamiliar with IoT, here’s an awesome introductory video by Intel:

IoT has emerged as a major area of growth in the tech world which will only continue to expand in 2016. One study by IDC shows IoT spending will reach $1.7 trillion in 2020.

5. M-Commerce

With Paypal facing competition from Venmo, Apple Pay, Android Pay, and more, mobile commerce has become the norm. As consumers seek easier payment methods, app developers in 2016 will be working toward designing apps with safer, faster, easier transaction processing.

Mystic Media is an Android & iOS app development, web design and strategic marketing firm located in Salt Lake City, Utah. Contact us today by clicking here or by phone at 801.994.6815.

5 Trendy Web Design Techniques to Modernize Your Website

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In the age of digital commerce, it’s vital to have a spiffy website. Even if a business does sell its products online, the first impression customers have of a brand often stems from the website. A messy website brings to mind a messy product. In this post, we will examine how 2015’s upcoming web design trends present ways in which to improve websites to make them look modern.

1.    Nail Your Landing Page

The landing page is the first impression a visitor has of a website, thus it’s a great opportunity to dazzle the viewer. Many websites have landing pages which are not only physically big, with imagery and design taking up most of the screen, but also large in metaphorical scale. Check out the website of Born Group, a creative media company with an extremely ambitious landing page.

Born sells something intangible—creative services. Their product is the ability to provoke emotion. As a creative agency, it’s vital for them to establish that they produce emotionally riveting content. The image of the ape is not only beautifully photographed, it’s powerful. If a prospective customer were on the verge of hiring Born Group, they would indubitably be swayed in the right direction from the moment they hit the landing page.

2.    Video Rules

For some companies, going for a message as big as Born would come off as overly self-involved. Born has an intangible product and sells B2B (Business-to-Business). They need to sell an idea and if they bring in a single project, it will pay for a big-budget investment in their site.

For smaller companies with tangible products, it’s important to put the product itself front-and-center. One way of doing this is to embed a video on the landing page of your site. For example, check out the salivating video on the landing page of Dunwell Donuts, a vegan Brooklyn donut shop.

The video succeeds on nearly every level. It makes the viewer crave donuts, artfully portrays the product, and tells the story of the founders of the business in an extremely intimate manner.

3.    Tell Your Story

The primary accomplishment of the Dunwell video is in the arena of storytelling. The Dunwell video tells the story of the company brand in an intimate way. By the end of the video, the viewer feels like they have a good sense of who runs Dunwell Donuts and what donuts mean to them.

A video is a cost-effective way of telling the personal story of a brand. Storytelling is a powerful medium because it creates an emotional connection between the viewer and the subject when executed effectively. For a business (especially a small business), this translates directly to brand loyalty. We’ve detailed other ways in which one can tell the personal story of a brand in our Parallax Scrolling article.

4.    Flat Design

Minimal web design is in. Apple’s design technique, flat design, is defined as “a style of interface design which removes any stylistic choices that give the illusion of three-dimensions (such as drop shadows, gradients, textures, or other tools that add depth) and is focused on a minimalist use of simple elements, typography and flat colors.”

Flat design is visually sleek and virtually inexpensive way of displaying one’s brand in a modern way. Check out some of the best flat design websites on the internet here.

5.    KISS (Keep It Simple Stupid)

A really well-designed landing page with minimal content looks much better than a lot of redundant, visually lacking pages. For an alternate approach to the donut vertical, check out the site for Elsie’s Donut Shop. It’s flat, minimal, sleek and to the point, stressing the products.

With the internet working more and more as a gatekeeper for customers to select which businesses they choose to solicit, modern aesthetics have a direct impact on business. Equipping a business with a sleek, modernized website puts them in the best position to excel in the marketplace.

Mystic Media is a web design and application development company based in Salt Lake City, Utah. For more information, click here or contact us by phone at 801.994.6815.

Parallax Scrolling: How the Latest Cutting Edge Web Design Can Increase Business

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Web design trends are constantly changing. The latest and greatest today is Parallax Scrolling.

Parallax Scrolling websites are generally large one-page sites. As one scrolls down, the background images move by the camera slower than the foreground images, creating the illusion of depth. Oftentimes different animations are launched during the course of scrolling which generally cover different topics. It’s like having multiple pages in one stream-of-consciousness scroll.

Here’s a basic example of a Parallax Scrolling website.

There are many benefits to Parallax Scrolling websites. For one, they are aesthetically pleasing. The user experience is no doubt greater than any other common form of web design. Instead of forcing the user to explore the site, they need only scroll down to take in the information at the pace the web designers desire.  When creating a website for a single product, Parallax Scrolling sites can be very useful because they allow the designer to show off all the different features of the product without having to create separate pages.

Here’s a great example of a parallax website utilized to display all the different angles and functions of a single product.

Parallax Scrolling also allows the web designer to create a story and control the way in which the user experiences the narrative. Parallax Scrolling gives the designer unparalleled control over the pace at which the user takes in information. Again, the user only has to scroll down, they are much more likely to see the animations created by scrolling down than to have to click around different pages and explore to find information.

Check out this awesome example of how to tell the story of your brand through a Parallax Scrolling website.

Parallax Scrolling can also have a positive effect on Search Engine Optimization. Having a one-page-site means a reduced the bounce rate, the number of visitors who move to another page without exploring, which is beneficial for SEO.

Another benefit is the increased mobile and tablet user experience. Traditional websites involve several pages which all need to be customized for mobile and tablet devices. The time it takes to redirect on a mobile or tablet device can be tedious. Parallax Scrolling utilizes one-page, reducing the redirection time for smartphone and tablet users. If created with responsive HTML (Check out our post Responsive Web Design Is the New Web Design), you’re guaranteed good mobile and tablet user experience, so long as the user’s device isn’t outdated.

Due to the emphasis on cool, crisp visual presentation, Parallax Scrolling sites are more likely to attract social sharing, and thus will attract greater traffic. If the design is crisp enough, a parallax scrolling site could land itself on one of these best of lists.

Parallax Scrolling websites are generally created using HTML5 and CSS3. Although they are high-tech, they also come with their share of cons. For one, due to the heavy use of animations, Parallax Scrolling sites can take longer to load. They also may not function smoothly across all web browsers. Because the designer is in control of the pace of the scrolling, it can also be frustrating to users who want to consume information faster, or confounding to less tech-saavy users who are confused by the set-up.

Overall, Parallax Scrolling is the most visually-pleasing, high-tech aesthetic one can choose for their website. Although it’s pricey and complicated to create, it’s the most dynamic form of web design used today, and, when designed effectively, the most engaging way to lure traffic to a web page.

Mystic Media is a web design and application development company based in Salt Lake City, Utah. For more information, click here or contact us by phone at 801.994.6815.