Join 94,595 users already on read.cash

What Is Ripple ? (Explained)

21 51 exc
Avatar for Ashma
Written by Β Β 471
1 year ago

Hey crypto people again πŸ–οΈ

Today we're going through a very popular cryptocurrency as well as different cryptocurrency, Ripple (XRP). In this article we'll see how ripple is different from other cryptocurriencies, it's origin and it's features.

So, let's dive in...!!

What Is Ripple ?

Ripple is a project behind cryptocurrency XRP. As most of the time cryptocurriencies are recognised by its project but in this case the project is recognised by its cryptocurrency. Unlike other cryptocurriencies like Bitcoin or Ethereum, Ripple does not need to high energy power to mine & bring coins into circulation, instead of that the project itself created the total number of XRPs at the time of inception and they sell it gradually as they need.

Almost every blockchain projects are intended to focus on decentralisation or simply keeping common people as the adopter but the Ripple project is completely opposite, here they focus on developing things to help banks and Other financial institutions to move money faster and without fees.

Do You Know ? πŸ’‘πŸ’‘

The smallest unit of Ripple (XRP) is called as 'Jed' and it was given by the ripple community after Jed McCalab, one of the companies founder.

Who Invented Ripple ?

The skeleton of todays Ripple project was made by the web developer Ryan Fugger in 2004, but the project wasn't growing until the team of Jed McCalab and Chris Larsen jumped into it in 2012. With the help of the skeleton and the collaboration of those two peoples Ripple had reached to the height of success that we see it today.

In just two years after teaming up ripple started to grow and they found their very first customer bank in 2014, after three years, in December 2017 XRP became the world's second largest crypto with the value of $ 73 billion.

Do You Know? πŸ’‘πŸ’‘

15 out of 50 major banks in the world uses Ripple to move their money around the world.

Key Facts About Ripple

  • Super Fast Transactions : Ripple can move money in just 3.5 seconds and can process 1000 transactions per second same as that of the popular visa. On the other hand Bitcoin can process only 7 transactions per second.

  • Cheap Transactions : According to the current available technologies for banks to move their money Ripple is not only just cheaper than others but it's cost is far less than that of those available technologies.

  • It's centralised : Banks act as nodes on the network, giving them more control over transactions.

Fun facts

  • Chris Larsen, one of the founder of Ripple holds most of the Ripple coins (XRP), somewhere around 5 billion XRPs

  • Currently Ripple own more than 50% of total supply of XRP, approx 60% and they XRPs every month which worths aroun 300 million US dollars

Future

Currently the use of blockchain technologies by world banks isn't certain and no one can tell surely. As Ripple focuses on bringing top world banks on their platform, the future of Ripple also isn't certain.

But if the world's leading banks accepts to work with Ripple and in future ripple became the business-platform for all banks then Ripple can be the most shiny crypto.

Recent Articles

1) What Is Basic Attention Token (BAT)

2) Basic Trading Terms That Every Trader Should Know (Part-1)

3) Fundamental Analysis & Crypto Trading


Hey guys this is it from my side, hope you enjoyed this article. If you want to get notified for my future articles then subscribe @Ashma

Share your feedback in comments.

Thanks for your time and appreciation πŸ™πŸ™

26
$ 3.49
$ 3.48 from @TheRandomRewarder
$ 0.01 from @online.surfer
Avatar for Ashma
Written by Β Β 471
1 year ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

Thank you for providing this valuable information as i dont know much about XRP but my your article i have learned enough of XRP however if you want to know about BCH dOnt be shame to visit my articles i am not begging for the subscribers but i am sure you will learn something from the articles HAVE A NICE DAY :)

$ 0.00
1 year ago

Yup, @online.surfer I'll definitely read your articles & trust me I love to get in touch with crypto people πŸ˜…

$ 0.00
1 year ago

If ripple hit $3 well, that is really really good news. But, yeah I do love ripple due to small fee and lightning speed transaction. I'm als love to trade my ripple in different exchange. Thank you for sharing friend.

$ 0.00
1 year ago

Yup, XRP is a great @Vladilus but haven't traded it actively.
N You're welcome πŸ™

$ 0.00
1 year ago

Nice article about Ripple. I think you mistype the name of Jed McCaleb. It is also funny to note that he left Ripple and founded Stellar. A funny fact that most people dont know but he was also part of Mt Gox.

$ 0.05
1 year ago

Yup,if I'm not wrong then I think he left in 2013, that time the project was named OpenChain n yup stellar is a big success but I didn't knew about Mt Gox thanks for that info @Yann.Poire. N sorry for misspelling πŸ˜…

$ 0.00
1 year ago

No need to be sorry. It just got me confused for a few seconds. Cheers!

$ 0.00
1 year ago

πŸ‘

$ 0.00
1 year ago

What I love about Ripple is the fast transactions

$ 0.00
1 year ago

There a lot of cryptos really, sometimes i got dizzy looking at the list haha. What i love about XRP is the fast and cheap transaction as you mentioned😁

$ 0.00
1 year ago

Yup it's super fast n of course Secure as international banks are their customers

$ 0.00
1 year ago

Its so worthy to read and it contains a lot of information. Thanx for kind post

$ 0.00
1 year ago

You're welcome @Natiq

$ 0.00
1 year ago

wow wow plz bk comment

$ 0.00
1 year ago

??

$ 0.00
1 year ago

Thanks For Sharing Such Type Of Informative Post With Us.

$ 0.00
1 year ago

Wow. This is marvelous

$ 0.00
1 year ago

Thanks @Panda hope you enjoyed this article and found this informative πŸ™

$ 0.00
1 year ago

Very much informative. I Love it

$ 0.00
1 year ago