Ripple is a technology that acts as both a cryptocurrency and a digital payment network for financial transactions. It was first released in 2012 and was co-founded by Chris Larsen and Jed McCaleb.
Ripple is the third-largest cryptocurrency by market cap, following Bitcoin and Ethereum.
Ripple is more known for its digital payment protocol than its cryptocurrency, XRP. Ripple operates on an open-source and peer-to-peer decentralized platform that allows for a seamless transfer of money in any form, whether USD, Yen, litecoin, or bitcoin.
To understand how the system works, consider a money transfer structure where the two parties on either end of the transaction use their preferred middlemen to receive the money.
Lawrence needs to send $100 to David who lives in a different city.
Cryptocurrencies and Blockchain are an integral part of our modern life and people often get lost in the variety of digital currencies that are available in the market.
The most well-known cryptocurrency is still Bitcoin.
However, Ripple is increasingly gaining its popularity among cryptocurrency fans and investors all over the globe. So, what are main difference between Ripple and Bitcoin, and what are their pros and cons? Let’s take a look at each of them in greater detail.
Bitcoin was developed as a digital currency with the aim of paying for services and goods. Ripple, in turn, was created for banks and payment networks as a payment settlement, money transfer system, and currency exchange.
As it is third only to Bitcoin and Ethereum, I’m going to assume you’ve heard of Ripple coin. It is the 3rd most valuable cryptocurrency with a current market capitalization of $31.36 billion.
XRP is an independent digital asset that is native to the XRP Ledger. With governance and fast transaction confirmations, XRP is said to be the most efficient settlement option for financial institutions and liquidity providers seeking global reach, accessibility, and fast settlement finality for interbank flows.
According to Ripple, those who use the digital asset XRP to source liquidity can reportedly do so in seconds.
Ripple, is it just another new cryptocurrency riding on this big, fat Bitcoin speculation rollercoaster? For those who skim the crypto news outlets, this may seem to be the case. But the truth is, Ripple is fundamentally different from Bitcoin, Ethereum, Litecoin, and the many other members of the large coin family. You could even say that Ripple is not really a coin at all.
If Ripple is not a coin, then what is the XRP cryptocurrency that is currently so hot on the exchanges? XRP, or Ripples, is indeed a coin, but it is the native coin of the XRP ledger, not the Ripple itself, which is actually: A network.
The Ripple network, or RippleNet for short, is an open-source protocol developed and published in 2012 by Chris Larsen, Ryan Fugger, and Jeb McCaleb.
XRP is the cryptocurrency used by the Ripple payment network.
Built for enterprise use, XRP aims to be a fast, cost-efficient cryptocurrency for cross-border payments.
Ripple, the company behind the XRP cryptocurrency, revealed a $200 million funding round. Plus, bitcoin’s 2020 outlook.
After suffering sharp losses this year, XRP has been unable to mount a notable recovery. When will this token break free of its bearish trend?
Blockchain payments firm Ripple has raised a whopping $200 million in Series C funding. The round was led by investment firm Tetragon, with participation from Japan’s SBI Holdings and Route 66 Ventures. With the fresh capital in place, Ripple looks to boost the adoption of cryptocurrency XRP and its native blockchain network, the XRP Ledger.
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Ripple XRP (XRP) is perhaps the most divisive digital asset on the market. True believers remain adamant it’s a revolutionary cryptocurrency, while critics posit it barely resembles Bitcoin, so it should be ignored.
Still, XRP is the third most popular digital asset in the world.