What is Ripple?
Ripple is both a RippleNet and Encryption Currency (Ripple XRP) established in 2012. Ripple connects banks and other large institutions and allows them to transfer money and other assets through the network. All transactions are recorded on the decentralized payment system block.
Ripple XRP is the currency used in the payment network for all transactions, reducing the time and fees associated with cross-border payments. Each transaction through the system is processed for only four seconds.
The currency is scalable - it can handle 1500 transactions per second. Bitcoin, on the other hand, can only deal with seven at the same time, which is one of the reasons why Bitcoin Cash was created.
In addition to being fast and scalable, Ripple also offers low transaction fees. Due to its advantages the system is already being used by more than 75 financial institutions around the world.
So, what is the main difference between Ripple and Bitcoin? Ripple is a payment system for financial institutions and is a competitor on systems such as SWIFT. It can also be traded but has never been designed to be a way of payment for buying goods online like Bitcoin.
Bicked people are a new way of making payments that surround banks and other financial institutions. Ripple, on the other hand, works with banks to help them speed up cross-border payments and lower fees. Some see Ripple as an opponent of the main purpose of cryptoLooks.
Another reason why some do not like Ripple XRP is that it is not decentralized like BattleKnight and other currencies. The company created all the coins before the launch and still owns more than half of the coins.
Unlike most other cryptoLooks, Ripple can not "dig". As already mentioned, all coins - 100 billion - have already been created. About 50% of them are in circulation, while the remaining coins are held by the company.
They will be marketed gradually - one billion Ripple per month. This is to show investors that Ripple will not pour the entire amount on the market at once, which would have a negative effect on the price.
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