Skip to main content

Overview of ripple for the starter.

What is ripple ?

Ripple is a for-profit technology platform and also a cryptocurrency (XRP), developed by Ripple Labs. The company focuses on providing real-time payment settlements and currency exchange services to financial institutions such as banks and payment processors. Over 100 companies worldwide have adopted Ripple software to guarantee fast, frictionless transactions.

Ripple is both a digital currency and a payments protocol, and it is the latter that has got people excited.Launched in 2012, XRP is different since its inception. XRP has a maximum 100 billion tokens of its currency, out of which 61 billion tokens are with the company itself. So, only 39 percent of the XRP coins are available for the market to use, transact and exchange.

Features of ripple..
1- Ripple (XRP) takes just 4 seconds to complete a transaction,

2-XRP cosistently handles 1,500 transaction per second ,24x7 ,and can scale to handle the same throughout as visa.

3-Open source technology ,built on the principles of blockchain with a set of validators.

Circulation of ripple came  in 2012, but as an innovation it came in 2004. In 2005, Ryan Fugger launched RipplePay.com as a predecessor to blockchain currencies. RipplePay provided online secure payment options for communities but didn’t gain such fame as now. In 2011, Fugger was soon approached by Jared McCaleb and Chris Larsen to replace RipplePay with a digital currency system where community consensus verified transactions, rather than miners like on the Bitcoin network.Work came into action on the Ripple Transaction Protocol in 2012. The protocol was outline to facilitate fast,direct money transaction between two parties in fiat currencies, without the wait times or transaction fees of traditional money transfer services. To provide greater liquidity, the protocol also provided for the creation of a new value token known as XRP. By 2014, what began as a person-to-person money transfer option began to gain traction with banks as another option for settling remittances in a quicker, more cost effective way than traditional technologies. In 2014, various banks and payment gateway signed on to utilize Ripple in a testing capacity. Ripple has added more institutions every year since, with over 100 clients in 2017.


Payment types in ripple net.
1-PROCESS PAYMENTS 
    xCurrent-Banks use xCurrent to process global payments for their customers

2-SOURCE LIQUIDITY
    xRapid Payment providers use xRapid to source on-demand liquidit

3-SEND PAYMENTS
   xVia Businesses use xVia to plug into RippleNet to send payments

Best platform to buy ripple..

considering  the cyber attacks, it is obvious that you may be concerned about the cryptocurrencies you’ve bought. There are a handful number of platform for buying Ripple with an ease. but among all EthxPay is the best platform to buy ripple it is highly secure & safe site where user without any fear can trade,our highly secure network system has made us the India 's 1st multicoin exchange in India..

conclusion

XRP has seen a spectacular growth, in contrasts of user experience and rise in its market value. Hence, it is worth investing in XRP .
Also, it is just 5 years old so it is too early to judge its future. Five years is too short to show the progress that Ripple has shown. From getting into cryptocurrency market to being the backbone to many financial bodies for faster payments.

For the readers

 let us know Which feature of XRP do you like the most? Which feature you think should be there in Ripple(XRP). Let us know in the comment section below.

Comments

Post a Comment

Popular posts from this blog

Bitcoin a 'dangerous speculative bubble ,is it?

Mo n e y   is   a   m a tt er   o f   f a ith,    Bits of paper and computer bytes change hands billions of times a day as a measure of value because we trust the promise that they represent .in today's era of fiat money ,those promises rest ultimately on a guarantee by governments that they are valuable .  that guarantee , as we have seen , is being questioned as the willingness of governments to live up to the promises of fiat currencies is called into question by the deterioration in public finances    We often discuss the ways that new technologies and techniques are being used to improve the digital scenario consecutively  To   t r e at   the   debate   about   the   f ut u re   of  mo ne y   as   a   battle   between econo m i c  truths  is   to   mi s und e r stand   the   nature   of   money  itself. ...
Post a Comment
Read more

Will it be possible that if Blockchain Technology can remould Global Payments System?

Payments are synonymous with a transaction that is guaranteed by a central authority which can be a bank, a payment wallet or an escrow service. Keeping the chronological timeline under consideration blockchain happens to be at the helm of technological advancement in the financial domain.   A block is the ‘current’ part of a blockchain, which records some or all of the recent transactions. Once completed, a block goes into the blockchain as a permanent database. Each time a block gets completed, a new one is generated. “Blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole.” The core value of a blockchain is that it enables a database to be directly shared without a central administrator. Rather than having some centralized application logic, blockchain transactions have their own proof of validity and authorization to enforce the constraints. Hence, with the blockchain acting as a consensus ...
1 comment
Read more

IMPACT OF BITCOIN IN INDIA

Crypto currency exchange operators remain untaxed of  RBI warning that beware of Bitcoin " if India had to ban virtual currencies they would have done by now. in last 3 years, the RBI 's statement has been the same: they are uncomfortable with it and people should invest at their own risk . But tell me who is at risk everyone who has invested in it are making money  and richer now.crypto currency is reality of the power of digital currencies which fast gaining popularity in India & world wide. It is now almost a decade since the first crypto currency, BITCOIN was developed in 2008 by Satoshi Nakamoto, but still, it is believed that we are in the nascent stages of crypto currency and block chain technology. It’s either gifted as an economic saviour of mankind or a complete annihilator of fiat currency. so visit the following links for more expert opinion  of bitcoin. In the last couple of years there has been significant growth in the trading...
Post a Comment
Read more