The Key Distinction Between XRP and Ripple the Company

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Ripple is a company, not a cryptocurrency. It is important to understand that there are two kinds of cryptocurrencies: cryptocurrencies and altcoins. Altcoins are cryptocurrencies other than Bitcoin, which can be created and traded on an exchange just like Ripple, Ethereum and Litecoin.

Ripple's job is to make it easier for banks to use blockchain technology to settle transactions between each other. Banks use Ripple's software to send money around the world at near-zero cost. But Ripple does not hold any XRP tokens; instead, it holds the IOUs of those who hold them (or someone else holds them in trust). This means that if you want to buy XRP on an exchange, you buy an IOU from the issuer of those XRP tokens, which may not even exist anymore!

The difference between these two models is a matter of scale: XRP tokens are currently worth around $0.25 each, but if a billion were released into circulation today, each token would have a total value are $1 billion (which would make them about 10 times higher). as valuable as Bitcoin!. This is why some people call them mini Bitcoins.

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