Ripple that makes waves in the cryptocurrency market

Rippling, the XRP symbol had been traded sideways for months, but it turned sharply upward a week ago, as described in a recent article in the Digital Journal.

There is a company called Ripple and a currency, a payment protocol and a payment exchange network with the same name produced by the company.

Ripple the company

Ripple was originally called Opencoin. The company was founded in 2012 and is based in San Francisco, California.

The company has developed the Ripple payment protocol and the exchange network.

For its creation and development of the ripple protocol (RTXP) and the payment exchange network, MIT Technology Review listed Ripple among the 50 most intelligent companies in the February 2014 issue.

Ripple the currency, the payment protocol and the exchange of payments

The Ripple transaction protocol (RTXP) is a real-time gross settlement system (RTGS).

According to Wikipedia: "It is based on a distributed open source Internet protocol, a consensus ledger and a native cryptocurrency called XRP (ripples). Released in 2012, Ripple intends to enable" secure, instantaneous and almost free global financial transactions of any size without chargebacks. "Supports tokens that represent fiat currency, cryptocurrency, merchandise or any other unit of value such as frequent flier miles or mobile minutes.

Ripple is already used by companies such as UniCredit, UBS and Santander. Ripple is a protocol that banks are effectively adopting using Ripple technology for settlements.

As of December 15, 2017, Ripple's market capitalization (XRP) was 31 billion, the third largest cryptocurrency. According to the annex vidieo is the fourth largest.

Ripple is complementary rather than a bitcoin competitor

While some may see RIpple as a bitcoin competitor, Ripple sees itself as a complementary service that could actually help bitcoins. He also has an article that introduces Ripple to bitcoin users.

The Ripple network allows the uninterrupted transfer of any form of currency: dollars, euros, pounds, yen, bitcoins or other cryptocurrencies.

Stephen Thomas, a senior developer for the Ripple protocol, but also a bitcoin supporter, said: "Ripple will open up more gateways for bitcoin users and easier ways to connect bitcoins with the world of mainstream finance."

Asians dive into the ripple

A Forbes article that talks about Ripple's Asian mania provides a brief description of Ripple: "Ripple is like a Western Union that uses blockchain technology. It's a digital payment system that allows discounts for its service for those who pay to use it. in the Ripple coin. "