10 things you did not know Ripple

The popularity of Ripple is increasing in the world of cryptocurrencies due to its emerging characteristics. It is called powerful technology because it has the capacity to process 15,000 transactions per second. Most investors consider Ripple the safest platform to invest because many banks are already using the Ripple network to transfer funds. It aims to strengthen financial transactions worldwide.

Following are 10 things about Ripple that you need to know to build a solid transaction process on this platform in the long run.

Ripple & # 39; s XRP

The Ripple XRP is a commercial cryptocurrency that facilitates transactions on RippleNet. It is considered a bridge currency for other currencies such as USD, Yen, Litecoin and Bitcoin. It has regained its position as the second cryptocurrency in the world by total market capitalization as of December 2018. The current market capitalization is $ 12,244,700,506 and its circulating offer is 40,926,963,305 thousand XRP.

XRP portfolio

XRP Wallet shop and secure funds. You can use the mobile wallet on your smartphone and its examples are the Toast wallet and the Abra wallet. Desktop / web wallet is an app that can be downloaded to your computer and are examples Rippex, Exarpy e CoinPayments. The XRP hardware portfolio is a tamper-proof USB device that can be used to store money offline and his example is Ledger Nano S and paper wallet that is a piece of paper, with public and private keys printed on them.

Ripple Gateway

Ripple gateways offer customers an entry into RippleNet to transfer their funds, both cryptocurrency and traditional currency. It allows deposits in some cryptocurrencies (BTC, XRP, LTC, NMC, PPC, SLL and NXT) and fiat currencies (USD, NZD, NOK, JPY, CNY, GBP, CHF and EUR). For example, each currency has its own gateway on RippleNet. The Canadian dollar (CAD) has CADBluzelle, USD has USD snapshots and Bitcoin has BTC bitstamps.

How to buy XRP

Not all cryptocurrency exchanges have Ripple's XRP; it is limited to crypto-encrypted exchanges. Some of the famous exchanges that exchange XRP / LTC are Bitsane and Mr.Exchange. Some exchanges that exchange XRP / ETH are Binance, Bittrex, Gatehub, OKEx, Upbit and HitBTC. Some exchanges that exchange XRP / BTC are Poloniex, Huobi, Bitfinex, Kraken and CoinEgg. You can buy Ripple with USD on Cex.io, Kraken and Bitstamp. You must register before buying or exchanging XRP on these exchanges.

RippleNet

RippleNet is a payment network created for banks and financial institutions. Some of the banks are Axis Bank, BBVA, MUFG, Yes Bank, SEB, eZforex and Cambridge Global Payments. Provides the single, frictionless experience to make money transactions worldwide. Transactions are executed within a few seconds despite frequent transactions on the network. It gives a low operating cost and low liquidity costs.

Ripple Protocol Consensus Algorithm (RPCA)

Ripple does not work with Proof of Work (PoW) and Proof-of-Stack (PoS). It has its own patented technology known as ripple protocol consent algorithm (RPCA) to verify transactions. The consensus ensures that each node is in agreement with the rest and also improves the integrity of the system.

Ripple Labs

Ripple Labs, an American technology company, has developed XRP and RippleNet. It was co-founded in 2012 by Chris Larsen and formerly known as OpenCoin. It is a privately funded company and has six funding rounds namely, two rounds of angel funding, a seed financing round, two rounds of Series A funding and a round of Series B funding.

Ripple Solutions

Ripple Labs offers three other solutions such as xCurrent, xVia and xRapid together with XRP. xCurrent is a software used by banks to process payments for their customers. xVia allows payment service providers and banks to send payments across networks in a completely transparent manner. xRapid helps payment service providers and other financial institutions find their on-demand liquidity.

Ripple can not be extracted

Unlike Ethereum and any other cryptocurrency, Ripple's XRP can not be extracted because its single existing unit has already been created. It means that the currency does not need to use electricity and computing power to generate new coins.

XRP To Go Places

The value of Ripple was around 4000% in the first half of 2017. At present, the market capitalization is more than $ 7 billion. However, the future forecast for Ripple's XRP depends on various factors such as the currency market capitalization, the number of investments, the integration of the system in banks and the quality of technical development.

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