What is ripple ?
Ripple is a for-profit technology platform and also a cryptocurrency (XRP), developed by Ripple Labs. The company focuses on providing real-time payment settlements and currency exchange services to financial institutions such as banks and payment processors. Over 100 companies worldwide have adopted Ripple software to guarantee fast, frictionless transactions.
Ripple is both a digital currency and a payments protocol, and it is the latter that has got people excited.Launched in 2012, XRP is different since its inception. XRP has a maximum 100 billion tokens of its currency, out of which 61 billion tokens are with the company itself. So, only 39 percent of the XRP coins are available for the market to use, transact and exchange.
Features of ripple..
1- Ripple (XRP) takes just 4 seconds to complete a transaction,
2-XRP cosistently handles 1,500 transaction per second ,24×7 ,and can scale to handle the same throughout as visa.
3-Open source technology ,built on the principles of blockchain with a set of validators.
Circulation of ripple came in 2012, but as an innovation it came in 2004. In 2005, Ryan Fugger launched RipplePay.com as a predecessor to blockchain currencies. RipplePay provided online secure payment options for communities but didn’t gain such fame as now. In 2011, Fugger was soon approached by Jared McCaleb and Chris Larsen to replace RipplePay with a digital currency system where community consensus verified transactions, rather than miners like on the Bitcoin network.Work came into action on the Ripple Transaction Protocol in 2012. The protocol was outline to facilitate fast,direct money transaction between two parties in fiat currencies, without the wait times or transaction fees of traditional money transfer services. To provide greater liquidity, the protocol also provided for the creation of a new value token known as XRP. By 2014, what began as a person-to-person money transfer option began to gain traction with banks as another option for settling remittances in a quicker, more cost effective way than traditional technologies. In 2014, various banks and payment gateway signed on to utilize Ripple in a testing capacity. Ripple has added more institutions every year since, with over 100 clients in 2017.
Payment types in ripple net.
xCurrent-Banks use xCurrent to process global payments for their customers
xRapid Payment providers use xRapid to source on-demand liquidit
xVia Businesses use xVia to plug into RippleNet to send payments
Best platform to buy ripple..
considering the cyber attacks, it is obvious that you may be concerned about the cryptocurrencies you’ve bought. There are a handful number of platform for buying Ripple with an ease. but among all EthxPay is the best platform to buy ripple it is highly secure & safe site where user without any fear can trade,our highly secure network system has made us the India ‘s 1st multicoin exchange in India..
XRP has seen a spectacular growth, in contrasts of user experience and rise in its market value. Hence, it is worth investing in XRP .
Also, it is just 5 years old so it is too early to judge its future. Five years is too short to show the progress that Ripple has shown. From getting into cryptocurrency market to being the backbone to many financial bodies for faster payments.
For the readers
let us know Which feature of XRP do you like the most? Which feature you think should be there in Ripple(XRP). Let us know in the comment section below.