(Bloomberg) -- The rout in cryptocurrencies isn't sinking all boats. Ripple, which uses a network of nodes that includes financial institutions to validate transactions, has sustained the advance for its XRP currency as it reports interest from financial institutions and concern mounts over the costs of bitcoin mining. Bloomberg Intelligence says second-generation cryptocurrencies, including litecoin, ethereum and Ripple's XRP have outperformed bitcoin as they focus on being "faster and cheaper."
--With assistance from Justin Tan
To contact the reporter on this story: Sandy Hendry in Hong Kong at shendry@bloomberg.net.
To contact the editors responsible for this story: Foster Wong at fwong94@bloomberg.net, Matthew Burgess
©2017 Bloomberg L.P.
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