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While there are no central authorities controlling Ripple's price and behavior in the market, the correct answer to the question seems to be negative: the platform is not entirely decentralized. This does not mean that it does not succeed, as world financial institutions like Santander, Bank of America, UBS, American Express, RBC and Westpac, to name but a few, use it for operations.
The blockchain technology does not allow either party or the network to control anything related to transactions, whereas these banks and institutions, using Ripple's distributed ledger, can charge their specified transaction fees.
People can not pre-mine XRP, unlike the cases of Ethereum and Bitcoin. They are completely decentralized platforms supported by millions of miners across the planet. No person or entity can have control over them. Ripple, managed by the Ripple company, sees its nodes managed and managed by the aforementioned financial institutions.
C & # 39; is a maximum number of Ripple tokens to be delivered to the world, set at the time of its introduction on the market. This number can not go higher, which means there are no new XRPs created.
Meet Ripple, the most practical financial network in the world
What are we, as a society, if we are not able to build solid relationships based on trust? This, and the honor should be in front of all social interactions involving human beings, including financial transactions.
As the world moves towards a way of doing business that is more protected from cryptography and digital, traditional banking platforms are gradually giving up. Only those who wish to adapt and include a more efficient, faster and safer payment system will be able to maintain the business and survive.
Ripple Price Today
The Ripple platform is one of those innovative systems. While it has been around since 2012, it continues to solidly support banks and financial institutions in an effort to provide more efficient and faster transactions that can be built around mutual trust between customers and the network.
Ripple is a project based on a 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, so 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 -M social networks. In this way, financial capital is based on social capital. A small version of the Ripple network would be an extension of the existing hierarchical banking system.
Ripple: an exciting, feature-rich network
To understand the role of Ripple in the cryptographic universe, we need to evaluate its contributions to industry. In addition to being one of the most famous digital tokens out there – also competing for second place in the market share, behind Bitcoin, with options like Dash, Litecoin and Ethereum – it is also one of the most efficient payment networks for transaction finance in the planet.
Ripple technology is, in fact, more widely known for its digital payment protocol than for being a cryptocurrency. Since it was co-founded by Chris Larsen and Jed McCaleb in 2012, it has flourished, reaching recognition and success on the world market through the digital currency, the XRP.
Ripple works in a decentralized platform that promotes money transfers in any form. It is open source and peer-to-peer and can work with different exchanges and currencies, physical or cryptographic, such as US dollars, Yen, Litecoin and Bitcoin.
To function properly, Ripple implements the Gateway support, which acts as the link in the chain of trust between two parties wishing to make a transaction. Gateway is the credit intermediary, charged with receiving funds for public addresses managed within the Ripple platform. In Ripple, anyone can register and open a gateway that authorizes that person to be the broker for the exchange of currencies.
The XRP (Ripple) is the associated cryptocurrency of the platform. It performs part of a bridge currency towards other tokens without discriminating between fiat and crypto, facilitating exchanges between different currencies.
According to Ripple's chief cryptographer, David Schwartz, today's payment systems are where email was in the early 1980s. Each vendor built their own system for their customers and, if people used them differently, they could not easily interact with each other.The purpose of Ripple is to enable the connection of different payment systems together
2012: Ripple was born
Ripple's original and intellectual authors are Arthur Britto, David Schwartz, and Ryan Fugger, who formed the Ripple Company in 2012 and released its initial version.The last version or release was February 20 2018.
The project is written in C ++ code, under the GNU / Linux operating systems (RHEL, CentOS, Ubuntu), Windows and OS X. We can consider Ripple as a real-time gross settlement, currency exchange and network of remittances.
The Pri significant period of Ripple went from 2012 to 2013, involving OpenCoin and Ripple Labs. OpenCoin has started the development phase of a new payment protocol, called Ripple Transaction Protocol (RTXP), with Fugger's ideas, mainly transferring immediate money between two parties. At that time, the company had already created its digital currency, the XRP, in the same Bitcoin mold.
Subsequently, 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 allowed users to send and receive transfers 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. The American institutions Cross River Bank and CBW Bank quickly followed, and later, Ripple began working with Earthport.
From then on, success followed, and major banking institutions, such as HSBC and Bank of America, used the Ripple protocol to perform operations in surprisingly fast times.
Ripple bread and butter: the consent protocol
Bitcoin, along with other well-known cryptocurrencies in the market, carries out its operations with the labor-proofing system. Others, like Nxt, use the game test; but Ripple implements the consent protocol.
The consent 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 obscure people trying to send a deal to multiple gateways.
In short, the protocol consists of distributed nodes that decide by consensus the hierarchical order of the transaction through a majority vote. You might think it takes a lot of time to complete. Well, five seconds are not quite a lot, right? Ripple is a decentralized platform because it does not involve any governance or central authority in any part of the process.
While the transactions are all made public in the consensus ledger, there is still anonymity because they can not be linked with the ID or account of the person involved. All users or gateways have a database of each registered IOU.
Discover the benefits of Ripple
The consensus that the Ripple system implements is versatile and fast enough that every day an increasing number of banks and financial institutions adopt it as their preferred way to carry out their business operations.
Ripple provides an improvement on the traditional way banks use to work. The transactions are completed, adjusted and recorded in a few seconds, despite the high amount of traffic the platform experiences every day. This is a huge improvement over, for example, 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 make a bank transfer, and let's face it this delay will not cut it off in our current financial reality. In addition to all this, the transaction fees in Ripple are almost non-existent: the minimum is 0.00001 XRP. This is nothing if you compare it to the costs of a cross-border payment.
Ripple, the token
The Ripple network has an associated cryptocurrency; XRP, which has the power of liquidity by acting as a bridge between other means of payment, making the exchange more convenient for all parties involved in a transaction.
Judging from the recent June 2017 data, XRP was the world's third largest cryptocurrency by market capitalization of $ 11.94 billion. The first is Bitcoin (BTC,) at $ 45.26 billion, and the second is Ethereum (ETH) at $ 31.53 billion
Information on ripple signals
52 weeks high : 3.3153
Low 52 weeks : 0.1500
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While there are no central authorities controlling Ripple's price and behavior in the market, the correct answer to the question seems to be negative: the platform it is not entirely decentralized. This does not mean that it does not succeed, as world financial institutions like Santander, Bank of America, UBS, American Express, RBC and Westpac, to name but a few, use it for operations.
The blockchain technology does not allow either party or the network to control anything related to transactions, whereas these banks and institutions, using Ripple's distributed ledger, can charge their specified transaction fees.
People can not pre-mine XRP, unlike the cases of Ethereum and Bitcoin. They are completely decentralized platforms supported by millions of miners across the planet. No person or entity can have control over them. Ripple, managed by the Ripple company, sees its nodes managed and managed by the aforementioned financial institutions.
C & # 39; is a maximum number of Ripple tokens to be delivered to the world, set at the time of its launch on the market. The said number can not go higher, which means that no new XRPs have been created.
Ripple and Bitcoin: complementary differences and traits
While many people in the industry claim that Bitcoin and Ripple are competitors, it may not be exactly the case. There are some differences, though: Bitcoin implements the proof-of-work system, which is a difficult (expensive, time-consuming) data to produce but easy to verify for others. It must also meet a number of requirements. In the case of Bitcoin, it implements the Hashcash test system.
Ripple, meanwhile, uses the distributed ledger, the "consensus" already explained, so there are noticeable differences in the way they operate. Ripple is owned and administered by OpenCoin and the Ripple Company, while Bitcoin is a decentralized system in which no central authority exists.
Now, what would you say if we told you that the traits and features of Ripple could benefit Bitcoin users? Remember, Ripple is better known and has gained most of its international recognition, as a payment system or protocol.
Ripple can provide Bitcoins with more ways to connect with those who use other forms of currency, as it preaches accelerated transactions and greater stability. In addition, Ripple is a distributed network and therefore does not depend on a single company to manage and protect the transaction database. As a result of this scenario, users do not have to wait for the blocks to be confirmed.
Selena Larson of CNN Tech explains that Ripples (XRP) can not be created, or "extracted" from users as happens with Bitcoin and other cryptocurrencies. The company has control of its destiny in this regard.
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Ripple joins Blockchain Capital VC Fund with an XRP investment worth $ 25 million
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Price forecast ripple in 10 years
Ripple's 10-year projection: success!
After a period of inactivity recently, the value of Ripple is starting to rise again, this could be your last chance to buy cheap! on the fact that, given the popularity of the network, the well-built platform, the investment interests around the world and the penetration in the media and in the main company, Ripple is expected to grow in the short, medium and long term.
beginners, experts say that the possibility of Ripple ending 2018 at a value close to $ 10 is very achievable, you could see the figure and you might think it's not much, but consider that it's currently less than a dollar: it would more than ten v its real price! Imagine how much money could be made with high volume investments.
On the basis of current projections, most people in the business agree that the value of Ripple can go up to $ 200- $ 300 in ten years. It is in the interest of the company if the price continues to rise, because it will make XRP less volatile.
Final considerations
In conclusion, not only is Ripple one of the most relevant payments and network exchange in the industry, but also, it is a prominent cryptocurrency in a world full of them. This is not the interesting fact: the XRP is growing and has a lot of room to grow!
Experts from cryptocurrency experts and critics point to Ripple when digital tokens with the greatest potential for 2018 and beyond are requested. After Bitcoin, which is the industry leader, there is no second clear placeholder. Perhaps, we are starting to experience the rise and consolidation of Ripple.
