WHAT IS RIPPLE (XRP)?
You have heard of Bitcoin and cryptocurrency but what is Ripple (XRP)? Ripple is a little more then the cryptocurrency XRP, it is also an open payment network. So, Ripple is the name for both the network that XRP is transferred on and the digital currency. The company behind Ripple XRP, Ripple Labs say’s there goal is to enable people to break out of “walled gardens” of the finance systems. So banks, credit cards, and companies like PayPal. Though it seems that it’s the banks the are breaking out.
WHAT IS RIPPLE (XRP) – WHAT DOES IT DO?
So we know Ripple XRP is both a currency and a network upon which it can be traded. Ripple XRP is more centralized than other cryptocurrency in a decentralized space. This means you will get wildly differing opinions on Ripple XRP. Ripple is built on distributed ledger network. This requires other parties to take part in validating transactions, rather than any single authority (centralized, for example banks). These transactions happen and are validated all over the world, with very inexpensive transfer fees. Ripple XRP transactions are effectively immediate, not like other cryptocurrency requiring confirmation time that can take hours or days. Ripple is trying to leverage the tech in XRP for faster worldwide banking transactions. While other cryptocurrency are built on the removal of the financial institution from transactions, Ripple has went the opposite direction.
WHAT IS RIPPLE XRP – HOW MANY TOKES ARE THERE?
Ripple created all of its 100 Billion XRP tokens immediately. The number of tokens are maintained and owned by Ripple Labs which has around 60 Billion XRP. It holds 55 Billion XRP in escrow and is allowed to sell up to a billion per month if they choose, to fund new projects. They are unlikely to do so as it would have serious impact on the price of Ripple XRP.
Also, want to track other altcoins like Bitcoin Price in real-time? Head to our Bitcoin Price tracking page. Another resource our Litecoin Price Page. In addition our Ripple XRP price page. Same with our Ethereum Price page and our Bitcoin Cash BCH Price
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