Intro

One of the best uses for Ripple was to move funds between exchanges, fast and cheap. Say you want to move $10 of ETH from Binance to Coinbase. You would convert the BTC to XRP in Binance, move the XRP to Coinbase then convert the XRP back to ETH at Coinbase. This is an almost instant process with almost no transaction fee. If you moved your BTC directly it would take forever and cost many dollars. But now XRP is off Coinbase... and a lot of people feel like it's too centralized. On top of that there is the issue of how much XRP the company Ripple controls. Enter Algorand.

Confirmation Speed

Algorand (ALGO) is fast. When I say fast, I mean the type of fast that matters; confirmation time. You can have all the Transactions per second (TPS) you want but if the confirmation time is slow then it's almost worthless. You may have experienced this. You send your coins to Binance and you can see it in your exchange wallet, but you have to wait for a whole bunch of blocks to get slapped onto the chain before the receiver is confident that the coins have actually been transferred, and only then can you trade or spend those coins. Algorand's confirmation time is basically instant. So rather than waiting 24 hours to trade (like say for ETC on Kraken) you can trade in a matter of seconds.

No Memo

Say you have your ALGO on your phone and moving it into and exchange all you need to do is scan the QR code. With other instant transaction coins (XRP, ATOM, XLM, BNB etc) there is a memo you need to copy and paste, and if you forget to do that (like I once did) then you're screwed. XRP had this memo requirement thing in exchanges and I hated it. It made the experience annoying and slowed it down. It's better to just have an address. It's much easier, safer and it's simple.

Transaction Fee

The transaction fee is 0.001 ALGO so roughly 0.001 USD at the moment. Once we are on that third decimal place no one cares about the fee any more because it's soo small you can ignore it. It's practically free. I wish I could say the same for Bitcoin. It would be a different world.

Decentralized

One of the things that I saw a lot of people mention about Ripple is that it can be targeted too easily. The business that made XRP still hold so much power over the ecosystem that they can be easily targeted and hence easily cause significant issues with XRP.

Smart Contracts

XRP simply does not execute smart contracts. That sucks. I like programmable money.

Easy Rewards

I'll tell you what you have to do to earn rewards with ALGO; nothing. Just hold it in the wallet. Good luck finding another coin where you can do that. I have not found a safer and easier way to earn rewards by holding a coin.

Summary

So that's why I think ALGO will replace XRP. It has for me at the very least, and I know a lot of people use Coinbase and Binance. I think they'll come to the same conclusion I have. After anyone actually uses ALGO they will find that it just works, no caveats.