Ripple is planning to upgrade the technology of the
cryptocurrency: Ripple is the 3 most valued cryptocurrency
currently. It is planning on upgrading the technology behind the
cryptocurrency. This is surely positive news for the ripple
investors. Any news of improvement would be beneficial not just
for the investors but also the clients of the platform.
2 new white papers:
Ripple launched a couple of new white papers recently. The 1
white paper highlighted the algorithm which is currently powering
the platform. The 2 White Paper highlighted the ways in which
the connectivity between different nodes can be improved. It also
highlighted the ways in which the verification of the transaction
can be improved.
Ripple also has many marquee name investors like SBI and
Santander. The news that it is looking to improve the
infrastructure consistently would actually work in its favor. As the
cryptocurrency platform gains more and more efficiency in
transferring currency all over the world, the number of clients
would also increase consistently. This is the reason why this new
white paper by the company is actually positive news.
According to the CTO of Ripple, Stefan Thomas the white papers
highlight the progress of the company in the right direction.
According to him, the start-up wants to improve the technology
further in order to make it easier to transfer money all over the
world.
He further added that this is the 1 time peer-reviewed academic
papers have been launched by the company. He was also enthusiastic
about the future research which would be carried on by the
company.
This is the 1 time that the company has launched such research
papers. However, the cryptocurrency platform is always at the
forefront when it comes to innovation. This is the reason why it
is very difficult to beat this platform when it comes to
transferring money.
Enhanced security:
According to the CTO, both the papers would improve the security
of the platform. This would, in turn, help the cryptocurrency gain
more clients as well.
With the cryptocurrency adding newer and newer clients on a
regular basis, it sure seems like an improvement and the platform
would attract an even higher number of clients. This is the reason
why this news is highly positive for ripple as it would attract new
clients for the cryptocurrency. This would also further increase the
valuation of the cryptocurrency as the platform would be used by
more and more clients.
Meet Ripple, the world’s most practical
financial network
What are we, as a society, if we aren’t able to build robust
relationships based on trust? That, and honor should be in front
of every social interaction involving human beings, including
financial transactions.
As the world shifts towards a more digital, cryptography-protected
way of doing business, traditional banking platforms are being
slowly phased out the financial scope. Only those willing to adjust
and including more efficient payment system, which is both faster
and safer, will be able to maintain in the business and survive.
Ripple Price Today
Name Price 24H (%)
XRP (XRP)
$0.458824 -0.22%
The Ripple platform represents one of those innovative systems.
While it has been around since 2012, it is still solidly backing up
banking and financial institutions in their quest to provide more
efficient and faster transactions that can be built around
customers’ trust in each other and the network.
Ripple is a project based on small free software that pursues the
development of a credit system based on the end-to-end paradigm.
Each Ripple node functions as a local exchange system, in such a
way that the entire network forms a decentralized mutual bank.
In other words, the Ripple platform is a distributed social service
based on the honor and trust of existing people in real-world
social networks. In this way, financial capital is based on social
capital. A reduced version of the Ripple network would consist of
an extension of the existing hierarchical banking system.
Ripple: an exciting, feature-rich network
To understand Ripple’s place in the crypto universe, we have to
value its contributions to the industry. In addition to being one
of the most renowned digital tokens out there – even competing
for the second spot in market share, behind Bitcoin, with options
such as Dash, Litecoin, and Ethereum – it is also one of the most
efficient payment networks for financial transactions in the
planet.
The Ripple technology is, in fact, more widely known for its
digital payment protocol than for being a cryptocurrency. Since
being co-founded by Chris Larsen and Jed McCaleb in 2012, it has
flourished, reaching worldwide recognition and market success via
the digital coin, the XRP.
Ripple functions in a decentralized platform that fosters money
transfers in any form. It is open source and peer to peer, and can
work with several exchanges and currencies, physical or crypto, such
as US dollars, Yen, Litecoin, and Bitcoin.
To work correctly, Ripple implements the Gateway medium, which
serves as the link in the trust chain between two parties wanting
to make a transaction. Gateway is the credit intermediary, the one
in charge of receiving the funds to public addresses managed
within the Ripple platform. In Ripple, anyone can sign up and
open a gateway that authorizes that person to be the middleman for
exchanging currencies.
The XRP (Ripple) is the associated cryptocurrency of the platform.
It performs the part of a bridge currency to other tokens without
discriminating between fiat and crypto, facilitating exchanges
between different coins.
According to Ripple’s chief cryptographer, David Schwartz, the
payment systems of today are where the email was in the early
’80s. Every provider built their system for their customers, and
if people used different ones, they couldn’t easily interact with
each other. The purpose of Ripple is enabling the connection of
different payment systems together.
2012: Ripple is born
Ripple’s original and intellectual authors are Arthur Britto, David
Schwartz, and Ryan Fugger. They formed the Ripple Company in
2012 and came up with the initial release. The latest version or
release was on February 20th, 2018.
The project is written in C++ code, under the operating systems
GNU/Linux (RHEL, CentOS, Ubuntu), Windows, and OS X. We
can consider Ripple to be a real-time gross settlement, currency
exchange, and remittance network.
Ripple’s first significant period ranged from 2012 to 2013,
involving OpenCoin and Ripple Labs. OpenCoin started the
development phase of a new payment protocol, named Ripple
Transaction Protocol (RTXP), with Fugger’s ideas, primarily
instant money transfer between two parties. By that time, the
company had already created its digital currency, the XRP, in the
same mold as Bitcoin.
Later, between 2014 and 2017, Ripple began to focus on the
banking market, with Ripple Labs taking part in related projects.
They experimented with an App for iPhone that enabled users to
send and receive transfer between them. Since 2013, the Ripple
protocol has been adopted by numerous financial institutions to
offer an alternative remittance option to people.
German bank Fidor was the first to use the Ripple network to allow
cross-border payments, in the first part of 2014. American
institutions Cross River Bank and CBW Bank quickly followed, and
later on, Ripple began working with Earthport.
From that point on, success followed, and more prominent banking
institutions, such as HSBC and Bank of America, utilize the
Ripple protocol to perform operations in astonishingly quick times.
Ripple’s bread and butter: the
consensus protocol
Bitcoin, along with other renowned cryptocurrencies in the market,
performs its operations with the proof-of-work system. Others, such
as Nxt, use proof-of-stake; but Ripple implements the consensus
protocol.
The consensus protocol validates account balances and transactions
in the network, improving overall integrity by avoiding double
spending. The system will automatically delete malicious advances
from morally shady people looking to send one deal to multiple
gateways.
In short, the protocol consists of distributed nodes deciding by
consensus the transaction’s pecking order through a majority vote.
One would think that they take a lot of time to complete. Well,
five seconds isn’t a whole lot, is it? Ripple is a decentralized
platform because it doesn’t involve any governance or central
authorities in any part of the process.
While the transactions are all made public in the consensus ledger,
there is still anonymity because they can’t be linked with the
involved people’s ID or account. All users or gateways have a
database of every registered IOU.
Get to know Ripple’s benefits
The consensus ledger that the Ripple system implements is versatile
and fast enough that each day, more and more banks and financial
institutions are adopting it as their preferred way to perform
their business operations.
Ripple provides an improvement on the traditional way that banks
use to work. The transactions are completed, settled and registered
in a matter of seconds despite the high amount of traffic that the
platform experiences every day. That is a vast improvement over,
say, the Bitcoin system, which takes an average of ten minutes to
complete an operation.
Traditional banks and financial institutions can take days, or
even weeks, to perform a wire transfer, and let’s face it, that
delay isn’t going to cut it in our current financial reality. On
top of all that, the transaction fees in Ripple are almost non-
existent: the minimum is 0.00001 XRP. That’s nothing if you
compare it to the costs of a cross-border payment.
Ripple, the token
The Ripple network has an associated cryptocurrency; the XRP,
which has the power of liquidity by serving as a bridge between
other means of payment, making the exchange more comfortable for
all parties involved in a transaction.
Judging by data as recent as June 2017, the XRP was the world’s
the third largest cryptocurrency by market cap of $11.94 billion.
The first is Bitcoin (BTC,) at $45.26 billion, and the second is
Ethereum (ETH) at $31.53 billion.
Ripple Token info
Name Price 24H (%)
XRP (XRP)
$0.458824 -0.22%
52-week High : 3.3153
52-week Low : 0.1500
Ripple Market Cap :
Ripple Volume :
Ripple Circ. Supply :
Max. Supply :
While there are no central authorities that control Ripple’s price
and behavior in the market, the right answer to the question seems
to be no: the platform is not entirely decentralized. That
doesn’t mean it isn’t successful, as worldly famous financial
institutions such as Santander, Bank of America, UBS, American
Express, RBC, and Westpac, just to name a few, use it for
operations.
The blockchain technology doesn’t allow any party or the network
itself to control anything regarding transactions, whereas these
banks and institutions, using the Ripple’s distributed ledger,
can charge their specified transaction fees.
People can’t pre-mine XRPs, unlike the cases of Ethereum and
Bitcoin. They are fully decentralized platforms backed by millions
of miners all around the planet. No person or entity can have
control over them. Ripple, administrated by the Ripple company,
sees its nodes handled and managed by the mentioned financial
institutions.
There is a maximum number of Ripple tokens to be hand in the
world, set at the moment of its inception to the market. The said
number can’t go higher, which means that there aren’t any new
XRPs being created.
Ripple and Bitcoin: differences and complementary traits
While numerous people within the industry state that Bitcoin and
Ripple are competitors, that may not be precisely the case. There
are some differences, though: Bitcoin implements the proof-of-work
system, which is a piece of data difficult (costly, time-consuming)
to produce but easy for others to verify. It has to satisfy a set of
requirements, too. In the case of Bitcoin, it implements the
Hashcash proof of work system.
Ripple, meanwhile, uses the already explained distributed ledger,
the “consensus” one, so there are notable differences in the
modus operandi. Ripple is owned and administrated by OpenCoin
and the Ripple Company, whereas Bitcoin is a decentralized system
in which there are no central authorities.
Now, what would you say if we told you that Ripple’s traits and
features could benefit Bitcoin users? Remember, Ripple is best
known and has attained most of its international recognition, as a
payment system or protocol.
Ripple can provide Bitcoin with more ways to connect with those
using other forms of currency, as it preaches expedited
transactions and increased stability. On top of that, Ripple is a
distributed network and therefore does not depend on a single
company to manage and secure the transaction database. As a result
of that scenario, users don’t have to wait for block
confirmations.
Selena Larson of CNN Tech explains that Ripples (XRP) cannot be
created, or “mined,” by users as it happens with Bitcoin and
other cryptocurrencies. The company has control of its destiny in
that regard.
Ripple Price Prediction in 10 Years
Ripple’s 10 year projection: success!
After a down period recently, Ripple’s value is starting to go up
again. This may be your last chance to buy on the cheap! Experts
agree upon the notion that, given the network’s popularity, well-
built platform, worldwide investing interests and penetration in
the media and mainstream society, Ripple is bound to grow in the
short, medium, and long-term.
For starters, pundits continually say that the possibility of Ripple
ending 2018 at a value nearing $10 is very much attainable. You
may see the figure and may think that is not a lot, but consider
that it is currently at less than a dollar: that would be more than
ten times its actual price! Imagine how much money could be made
with high volume investments.
Based on current projections, most people within the business
agree that Ripple’s value can go up to the $200-$300 range in ten
years. It is in the company’s best interest if the price continues
to rise, because it will make XRP less volatile.
Final thoughts
In conclusion, not only is Ripple one of the most relevant payment
and exchange networks in the industry but also, it is one a
prominent cryptocurrency in a world full of them. That is not the
interesting fact about it: the XRP is trending up, and has tons of
room to grow!
Pundits and cryptocurrency experts point at Ripple when they are
asked about the digital tokens with the most potential for 2018 and
beyond. After Bitcoin, which is the industry’s leader, there is no
clear-cut second placeholder. Maybe, we are starting to experience
the rise and consolidation of Ripple.
What’s The Difference Between XRP’s
Tech And Other Cryptocurrency Assets?
Spot the difference between XRP’s tech and other cryptocurrency
assets.
Written on: Mar 12, 2018 – Sometimes, it appears like there is
no public support for cryptocurrency networks, but this isn’t the
case: at least not exactly. It’s true that cryptocurrencies come in
different forms, but they all share the same logic regarding
programming, private key cryptography, and peer-to-peer
networking.
So, What Makes XRP Different?
XRP was created in 2012 but has already secured $40 billion in
value. Regarding market capitalization, it ranks as the third
largest cryptocurrency worldwide. Ripple, the company in charge of
its operations, has been able to link up some impressive
partnerships for the asset successfully.
New reports have revealed that the asset, XRP, isn’t as successful
as it appears. Ripple’s other financial products have contributed
to its overall value. If you want to benefit from the market,
learning as much as you can about the distinction between
Ripple’s tech and other products (say Bitcoin and Ethereum) in
the market will be helpful.
Although Ethereum, Bitcoin, and XRP trade on public exchanges,
the method of operation is different. For starters, the ledger and
consensus algorithm isn’t the same. XRP as a cryptocurrency runs
on the XRP ledger. The difference between this cryptocurrency and
others is how the system solves a common challenge. The main
problem people face with an algorithm like this is the double-spend
problem. Ethereum and Bitcoin solve this problem with the proof of
work algorithm. However, XRP solves it with an alternative trust-
based system that depends on a segment of nodes to make the
ultimate decision.
The segment is referred to as Unique Node List. This system allows
the blockchain to cope with a higher throughput of transactions
compared to other systems that depend on the proof of work.
The development and governance, supply and token economics, and
value proposition techniques all contribute to make XRP a rather
exceptional product. Statistics have revealed that it will continue
to rise in value as time goes on.
cryptocurrency: Ripple is the 3 most valued cryptocurrency
currently. It is planning on upgrading the technology behind the
cryptocurrency. This is surely positive news for the ripple
investors. Any news of improvement would be beneficial not just
for the investors but also the clients of the platform.
2 new white papers:
Ripple launched a couple of new white papers recently. The 1
white paper highlighted the algorithm which is currently powering
the platform. The 2 White Paper highlighted the ways in which
the connectivity between different nodes can be improved. It also
highlighted the ways in which the verification of the transaction
can be improved.
Ripple also has many marquee name investors like SBI and
Santander. The news that it is looking to improve the
infrastructure consistently would actually work in its favor. As the
cryptocurrency platform gains more and more efficiency in
transferring currency all over the world, the number of clients
would also increase consistently. This is the reason why this new
white paper by the company is actually positive news.
According to the CTO of Ripple, Stefan Thomas the white papers
highlight the progress of the company in the right direction.
According to him, the start-up wants to improve the technology
further in order to make it easier to transfer money all over the
world.
He further added that this is the 1 time peer-reviewed academic
papers have been launched by the company. He was also enthusiastic
about the future research which would be carried on by the
company.
This is the 1 time that the company has launched such research
papers. However, the cryptocurrency platform is always at the
forefront when it comes to innovation. This is the reason why it
is very difficult to beat this platform when it comes to
transferring money.
Enhanced security:
According to the CTO, both the papers would improve the security
of the platform. This would, in turn, help the cryptocurrency gain
more clients as well.
With the cryptocurrency adding newer and newer clients on a
regular basis, it sure seems like an improvement and the platform
would attract an even higher number of clients. This is the reason
why this news is highly positive for ripple as it would attract new
clients for the cryptocurrency. This would also further increase the
valuation of the cryptocurrency as the platform would be used by
more and more clients.
Meet Ripple, the world’s most practical
financial network
What are we, as a society, if we aren’t able to build robust
relationships based on trust? That, and honor should be in front
of every social interaction involving human beings, including
financial transactions.
As the world shifts towards a more digital, cryptography-protected
way of doing business, traditional banking platforms are being
slowly phased out the financial scope. Only those willing to adjust
and including more efficient payment system, which is both faster
and safer, will be able to maintain in the business and survive.
Ripple Price Today
Name Price 24H (%)
XRP (XRP)
$0.458824 -0.22%
The Ripple platform represents one of those innovative systems.
While it has been around since 2012, it is still solidly backing up
banking and financial institutions in their quest to provide more
efficient and faster transactions that can be built around
customers’ trust in each other and the network.
Ripple is a project based on small free software that pursues the
development of a credit system based on the end-to-end paradigm.
Each Ripple node functions as a local exchange system, in such a
way that the entire network forms a decentralized mutual bank.
In other words, the Ripple platform is a distributed social service
based on the honor and trust of existing people in real-world
social networks. In this way, financial capital is based on social
capital. A reduced version of the Ripple network would consist of
an extension of the existing hierarchical banking system.
Ripple: an exciting, feature-rich network
To understand Ripple’s place in the crypto universe, we have to
value its contributions to the industry. In addition to being one
of the most renowned digital tokens out there – even competing
for the second spot in market share, behind Bitcoin, with options
such as Dash, Litecoin, and Ethereum – it is also one of the most
efficient payment networks for financial transactions in the
planet.
The Ripple technology is, in fact, more widely known for its
digital payment protocol than for being a cryptocurrency. Since
being co-founded by Chris Larsen and Jed McCaleb in 2012, it has
flourished, reaching worldwide recognition and market success via
the digital coin, the XRP.
Ripple functions in a decentralized platform that fosters money
transfers in any form. It is open source and peer to peer, and can
work with several exchanges and currencies, physical or crypto, such
as US dollars, Yen, Litecoin, and Bitcoin.
To work correctly, Ripple implements the Gateway medium, which
serves as the link in the trust chain between two parties wanting
to make a transaction. Gateway is the credit intermediary, the one
in charge of receiving the funds to public addresses managed
within the Ripple platform. In Ripple, anyone can sign up and
open a gateway that authorizes that person to be the middleman for
exchanging currencies.
The XRP (Ripple) is the associated cryptocurrency of the platform.
It performs the part of a bridge currency to other tokens without
discriminating between fiat and crypto, facilitating exchanges
between different coins.
According to Ripple’s chief cryptographer, David Schwartz, the
payment systems of today are where the email was in the early
’80s. Every provider built their system for their customers, and
if people used different ones, they couldn’t easily interact with
each other. The purpose of Ripple is enabling the connection of
different payment systems together.
2012: Ripple is born
Ripple’s original and intellectual authors are Arthur Britto, David
Schwartz, and Ryan Fugger. They formed the Ripple Company in
2012 and came up with the initial release. The latest version or
release was on February 20th, 2018.
The project is written in C++ code, under the operating systems
GNU/Linux (RHEL, CentOS, Ubuntu), Windows, and OS X. We
can consider Ripple to be a real-time gross settlement, currency
exchange, and remittance network.
Ripple’s first significant period ranged from 2012 to 2013,
involving OpenCoin and Ripple Labs. OpenCoin started the
development phase of a new payment protocol, named Ripple
Transaction Protocol (RTXP), with Fugger’s ideas, primarily
instant money transfer between two parties. By that time, the
company had already created its digital currency, the XRP, in the
same mold as Bitcoin.
Later, between 2014 and 2017, Ripple began to focus on the
banking market, with Ripple Labs taking part in related projects.
They experimented with an App for iPhone that enabled users to
send and receive transfer between them. Since 2013, the Ripple
protocol has been adopted by numerous financial institutions to
offer an alternative remittance option to people.
German bank Fidor was the first to use the Ripple network to allow
cross-border payments, in the first part of 2014. American
institutions Cross River Bank and CBW Bank quickly followed, and
later on, Ripple began working with Earthport.
From that point on, success followed, and more prominent banking
institutions, such as HSBC and Bank of America, utilize the
Ripple protocol to perform operations in astonishingly quick times.
Ripple’s bread and butter: the
consensus protocol
Bitcoin, along with other renowned cryptocurrencies in the market,
performs its operations with the proof-of-work system. Others, such
as Nxt, use proof-of-stake; but Ripple implements the consensus
protocol.
The consensus protocol validates account balances and transactions
in the network, improving overall integrity by avoiding double
spending. The system will automatically delete malicious advances
from morally shady people looking to send one deal to multiple
gateways.
In short, the protocol consists of distributed nodes deciding by
consensus the transaction’s pecking order through a majority vote.
One would think that they take a lot of time to complete. Well,
five seconds isn’t a whole lot, is it? Ripple is a decentralized
platform because it doesn’t involve any governance or central
authorities in any part of the process.
While the transactions are all made public in the consensus ledger,
there is still anonymity because they can’t be linked with the
involved people’s ID or account. All users or gateways have a
database of every registered IOU.
Get to know Ripple’s benefits
The consensus ledger that the Ripple system implements is versatile
and fast enough that each day, more and more banks and financial
institutions are adopting it as their preferred way to perform
their business operations.
Ripple provides an improvement on the traditional way that banks
use to work. The transactions are completed, settled and registered
in a matter of seconds despite the high amount of traffic that the
platform experiences every day. That is a vast improvement over,
say, the Bitcoin system, which takes an average of ten minutes to
complete an operation.
Traditional banks and financial institutions can take days, or
even weeks, to perform a wire transfer, and let’s face it, that
delay isn’t going to cut it in our current financial reality. On
top of all that, the transaction fees in Ripple are almost non-
existent: the minimum is 0.00001 XRP. That’s nothing if you
compare it to the costs of a cross-border payment.
Ripple, the token
The Ripple network has an associated cryptocurrency; the XRP,
which has the power of liquidity by serving as a bridge between
other means of payment, making the exchange more comfortable for
all parties involved in a transaction.
Judging by data as recent as June 2017, the XRP was the world’s
the third largest cryptocurrency by market cap of $11.94 billion.
The first is Bitcoin (BTC,) at $45.26 billion, and the second is
Ethereum (ETH) at $31.53 billion.
Ripple Token info
Name Price 24H (%)
XRP (XRP)
$0.458824 -0.22%
52-week High : 3.3153
52-week Low : 0.1500
Ripple Market Cap :
Ripple Volume :
Ripple Circ. Supply :
Max. Supply :
While there are no central authorities that control Ripple’s price
and behavior in the market, the right answer to the question seems
to be no: the platform is not entirely decentralized. That
doesn’t mean it isn’t successful, as worldly famous financial
institutions such as Santander, Bank of America, UBS, American
Express, RBC, and Westpac, just to name a few, use it for
operations.
The blockchain technology doesn’t allow any party or the network
itself to control anything regarding transactions, whereas these
banks and institutions, using the Ripple’s distributed ledger,
can charge their specified transaction fees.
People can’t pre-mine XRPs, unlike the cases of Ethereum and
Bitcoin. They are fully decentralized platforms backed by millions
of miners all around the planet. No person or entity can have
control over them. Ripple, administrated by the Ripple company,
sees its nodes handled and managed by the mentioned financial
institutions.
There is a maximum number of Ripple tokens to be hand in the
world, set at the moment of its inception to the market. The said
number can’t go higher, which means that there aren’t any new
XRPs being created.
Ripple and Bitcoin: differences and complementary traits
While numerous people within the industry state that Bitcoin and
Ripple are competitors, that may not be precisely the case. There
are some differences, though: Bitcoin implements the proof-of-work
system, which is a piece of data difficult (costly, time-consuming)
to produce but easy for others to verify. It has to satisfy a set of
requirements, too. In the case of Bitcoin, it implements the
Hashcash proof of work system.
Ripple, meanwhile, uses the already explained distributed ledger,
the “consensus” one, so there are notable differences in the
modus operandi. Ripple is owned and administrated by OpenCoin
and the Ripple Company, whereas Bitcoin is a decentralized system
in which there are no central authorities.
Now, what would you say if we told you that Ripple’s traits and
features could benefit Bitcoin users? Remember, Ripple is best
known and has attained most of its international recognition, as a
payment system or protocol.
Ripple can provide Bitcoin with more ways to connect with those
using other forms of currency, as it preaches expedited
transactions and increased stability. On top of that, Ripple is a
distributed network and therefore does not depend on a single
company to manage and secure the transaction database. As a result
of that scenario, users don’t have to wait for block
confirmations.
Selena Larson of CNN Tech explains that Ripples (XRP) cannot be
created, or “mined,” by users as it happens with Bitcoin and
other cryptocurrencies. The company has control of its destiny in
that regard.
Ripple Price Prediction in 10 Years
Ripple’s 10 year projection: success!
After a down period recently, Ripple’s value is starting to go up
again. This may be your last chance to buy on the cheap! Experts
agree upon the notion that, given the network’s popularity, well-
built platform, worldwide investing interests and penetration in
the media and mainstream society, Ripple is bound to grow in the
short, medium, and long-term.
For starters, pundits continually say that the possibility of Ripple
ending 2018 at a value nearing $10 is very much attainable. You
may see the figure and may think that is not a lot, but consider
that it is currently at less than a dollar: that would be more than
ten times its actual price! Imagine how much money could be made
with high volume investments.
Based on current projections, most people within the business
agree that Ripple’s value can go up to the $200-$300 range in ten
years. It is in the company’s best interest if the price continues
to rise, because it will make XRP less volatile.
Final thoughts
In conclusion, not only is Ripple one of the most relevant payment
and exchange networks in the industry but also, it is one a
prominent cryptocurrency in a world full of them. That is not the
interesting fact about it: the XRP is trending up, and has tons of
room to grow!
Pundits and cryptocurrency experts point at Ripple when they are
asked about the digital tokens with the most potential for 2018 and
beyond. After Bitcoin, which is the industry’s leader, there is no
clear-cut second placeholder. Maybe, we are starting to experience
the rise and consolidation of Ripple.
What’s The Difference Between XRP’s
Tech And Other Cryptocurrency Assets?
Spot the difference between XRP’s tech and other cryptocurrency
assets.
Written on: Mar 12, 2018 – Sometimes, it appears like there is
no public support for cryptocurrency networks, but this isn’t the
case: at least not exactly. It’s true that cryptocurrencies come in
different forms, but they all share the same logic regarding
programming, private key cryptography, and peer-to-peer
networking.
So, What Makes XRP Different?
XRP was created in 2012 but has already secured $40 billion in
value. Regarding market capitalization, it ranks as the third
largest cryptocurrency worldwide. Ripple, the company in charge of
its operations, has been able to link up some impressive
partnerships for the asset successfully.
New reports have revealed that the asset, XRP, isn’t as successful
as it appears. Ripple’s other financial products have contributed
to its overall value. If you want to benefit from the market,
learning as much as you can about the distinction between
Ripple’s tech and other products (say Bitcoin and Ethereum) in
the market will be helpful.
Although Ethereum, Bitcoin, and XRP trade on public exchanges,
the method of operation is different. For starters, the ledger and
consensus algorithm isn’t the same. XRP as a cryptocurrency runs
on the XRP ledger. The difference between this cryptocurrency and
others is how the system solves a common challenge. The main
problem people face with an algorithm like this is the double-spend
problem. Ethereum and Bitcoin solve this problem with the proof of
work algorithm. However, XRP solves it with an alternative trust-
based system that depends on a segment of nodes to make the
ultimate decision.
The segment is referred to as Unique Node List. This system allows
the blockchain to cope with a higher throughput of transactions
compared to other systems that depend on the proof of work.
The development and governance, supply and token economics, and
value proposition techniques all contribute to make XRP a rather
exceptional product. Statistics have revealed that it will continue
to rise in value as time goes on.
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