XRP is one of the most popular cryptocurrencies out there. Although many investors know the difference between Ripple and XRP, there are still some people out there who think they are the same thing (which they definitely are NOT). So with this, today we will go through what you are investing in when you decide to go with Ripple.
To begin with, we will go through the native currency of Ripple, which is XRP, which is sometimes called Ripple because of its association with its parent company.
Currently, Ripple Labs is fighting a series of collective lawsuits claiming that the sale of the XRP token has been promoted as security. The study denied the allegations and asked at the end of last year that David Oconer against Ripple Labs could be heard in the Federal Court.
In response to the common mistake and confusion, "XRP is the native digital asset of XRP Ledger and XRP Ledger is a distributed and open-source ledger: Ripple is a" private company ".
The XRP led register is mainly used to register ownership and transfer of the XRP digital token.
The token has fast settlement times in which Ripple claims to reach a final result in about four seconds and that it can handle "1,500 TPS – an equal return with Visa and other card networks, because XRP was created specifically for business use to provide liquidity for international transactions."
Ripple like a company
The private company holds the mind behind the creation, implementation and development of assets and services such as XRP and RippleNet.
Two of the minds behind Ripple and his products are Jed McCaleb and Ryan Fugger. Eight years ago, McCaleb started working on a cryptocurrency that could have reached consensus without the need for mineral resources. As reported by Good New Coinsince 2004, Fugger had worked on a monetary system that would have been decentralized in nature and would facilitate the creation of a specific system of values for a community. In 2012, McCaleb worked with the well-known investor in financial technology and interrupted Chris Larsen, who engaged Fugger with the idea of putting his ideas together to fill a hole in the market.
Subsequently, McCaleb and Larsen obtained full leadership from Fugger with the private company, OpenCoin was their next venture.
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