Compare/Contract Bitcoin & Ripple
Someone please explain the similarities and differences between Bitcoin and Ripple. Both cryptocurrencies seems amazing. And each crypto undoubtedly has its unique functions and use-cases which enable them to compete against each other. It would be beneficiary to cryptocurrency enthusiasts to determine what promising functions both BTC and Ripple provide!!! So excited!
To put it simply Bitcoin is decentralized and not controlled by banks which is why it is favoured in the community but Ripple is aimed at being used by banks instead of their old way of transferring funds like SWIFT which has high charges and takes days, Ripple will be cheap and enable the transaction within seconds. Some people are against Ripple because it has anything to do with banks which is against what Bitcoin is trying to do. That said, I think they are both good for the future mainstream of cryptocurrency.
Thanks so much! So it is seems that both BTC and Ripple could take off well, as they might be competitors! Also, some time in May when crypto started to boom, I remember it was announced somewhere that Ripple is going to be decentralized a little bit as well. So, a centralized/decentralized Ripple hybrid could surely be one of the key crypto innovations of the century!!!!!