What is Ripple (XRP)
Ripple platform/currency (XRP) is an open source payment protocol which was built in 2012 by Ripple Labs. The aim was to allow cheaper payments and instant money transactions around the world. According to that, many major banks and other companies have adopted its services to provide fast and cheap transactions.
- How does Ripple work
- Why Ripple?
- Ripple Vs Bitcoin
- Ripple price prediction for 2021
- Ripple price prediction for 2022
- Ripple price prediction for 2025
- Ripple price prediction for 2030
- How to exchange your Ripple (XRP) to Bitcoin (BTC) using InstaSwap?
How does Ripple work
Ripple (XRP) does not rely on blockchain technology like the rest cryptocurrencies do, neither in PoW or PoS protocol. The verification of transactions is happening through their own technology system called Ripple Protocol Consensus Algorithm (RPCA). This protocol verifies a transaction “only” when all nodes accept the request to complete the process.
The total amount of Ripple (XRP) coins that will ever exist is $100 Billion and all of them are pre-mined. This means that no mining rewards exists. Ripple Company controls the quantity and brings new coins into the market only when is is necessary. At the time of writing these lines, the project has more than 45.4 Billion XRP tokens in circulation.
Ripple Labs vision was to create the XRP currency in order to build the fastest global payment system.
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