Ripple (XRP) - Coin of the Week

Ripple (XRP) - Coin of the Week

Launched in 2013, XRP is designed to facilitate faster and cheaper payments, being considered an ecological and fast digital asset. Ripple stands out through a design that sparks discussions about how blockchain technology is used and the use cases addressed.

History of Ripple

Both the XRP Ledger, which is a decentralized network of servers that manages a distributed ledger of transactions and balances in XRP, and Ripple, the company founded to promote and develop the XRP ecosystem, have gone through a series of changes over the years.

Unlike other cryptocurrencies, XRP does not have a single main developer or founding figure. However, there are a number of people who have been involved in the launch of this technology and ancillary business entities, including: Jed McCaleb (who founded Mt. Gox, the first successful Bitcoin exchange, and the crypto company called Stellar), fintech entrepreneur Chris Larsen and Stefan Thomas, an important developer of open-source systems.

The XRP Ledger technology introduced a new way of operating transactions and the registration system, being suitable for regulated entities that must comply with strict money transmission laws.

Unlike Bitcoin, which allows anyone to contribute computing power to validate transactions and secure the network, the XRP Ledger grants this power only to approved participants.

Given that nodes do not earn XRP cryptocurrency for maintaining a correct version of the ledger's history, all 100 billion XRP in existence were generated and distributed at launch to individuals and companies.

The Ripple company acts as the main administrator in the financing and development of the XRP Ledger technology and plays an essential role in the development of the XRP ecosystem.

How does Ripple work?

The XRP Ledger is influenced by a number of aspects of the Bitcoin code. The same as Bitcoin, XRP allows users to send and receive cryptocurrencies using public and private keys, with transfers requiring digital signatures.

Unlike Bitcoin, XRP does not use crypto mining and does not require specialized hardware to secure its ledger and to validate transactions. XRP allows technology to send transactions to be considered by its network.

Only transactions validated by "unique nodes" or authorized servers can develop a consensus in the network regarding this type of transaction. Using this design, XRP nodes can quickly validate transactions, provided that at least 80% of participants consider them valid.

Ripple Use-Cases

  • International payments
  • Microtransactions

For more information on XRP go to the Ripple Price (XRP) page.

Ripple Advantages

  • Fast transactions
  • Low costs
  • Scalability
  • Stability
  • Liquidity
  • Sustenability

For more information on XRP go to the Ripple Price (XRP) page.

Ripple in 2023

Ripple focuses on utility. The ecosystem around the XRP cryptocurrency focuses on increasing the cryptocurrency in various fields such as NFT's and sustainable energy. In addition, the Ripple team is prepared to collaborate in 2023 with numerous states to facilitate pilot projects for the development of CBDCs, or cryptocurrencies issued by central banks.

Ripple Financial Indicators

Market Cap: 17 billion EURO

Ripple price: 0.3 Euro

Transaction volume XRP (24h): 1 billion Euro

Ripple Community

Latest Ripple (XRP) News

  • Ripple has contacted more than 20 central banks to discuss pilot projects for the development of CBDC-type digital assets.
  • Tranglo, a Ripple partner, has announced that it has entered into a partnership with EzyRemit, one of the largest fintech companies in Australia. EzyRemit will use Tranglo's international payment solutions, including XRP-based payment technology, ODL (On-Demand Liquidity).

How to Buy Ripple (XRP)

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