Ripple is a transaction protocol and network designed for currency exchange and remittance. The goal was to build an online remittance network to enable instant and nearly free global financial transactions of any size with no additional charge-backs. Ripple (XRP) is not a traditional cryptocurrency such as Litecoin. Ripple has been adopted by more than 100 global banks and online payment providers all over the world.

Ripple as such was launched in 2012 by a California-based company, Ripple Lab (originally known under the name Opencoin). The authors are A. Britto, D. Schwartz and R. Fugger. In parallel, the concept of Ripple became a model for numerous other payment systems. Ripple is a network with a publically available code, an open-source solution.

As mentioned above, ripple has drawn attraction of several large banks and institutional banking systems such as CBW Bank a Cross River Bank using ripple already. Further candidates are Santander and UniCredit. Banks incorporate ripple protocol to enable their clients to profit from all benefits of ripple transactions. Ripple is able to interconnect various platforms and create automated scripts.

Despite its enormous growth, ripple is still more stable than bitcoin.

A strong proof of the cryptocurrency’s benefits is the seventy five banks from all over the world using ripple in their daily operations. If the network of ripple users continues to grow the price of ripple may grow accordingly. Ripple is surely not an anarchist’s dream currency (unlike bitcoin who has had such aspirations) yet it can offer decent evaluation.