Friday, May 24, 2024

Ripple (XRP)

Ripple is the name of the company that created the Ripple payment platform as well as the XRP token.

Ripple’s goal is to build global enterprise blockchain solutions to process payments in a faster way.

Ripple (XRP) refers to the cryptocurrency and the name of the open source payment platform that can transfer cryptocurrency (XRP).

The platform’s vision is to enable real-time global payments anywhere in the world.

The Ripple payment protocol is built by OpenCoin, which was founded in 2012.

XRP’s blockchain is maintained by a group of just 36 nodes who work together to process transactions and maintain the security of the blockchain.

Ripple One company controls the supply of the majority of the asset and has significant oversight of the ecosystem, including
Controls 6 of 36 nodes.

The advantage of this centralization is that the XRP blockchain is extremely fast, capable of processing transactions at speeds that match credit card payment networks like Visa or Mastercard.

Disadvantages include that it is subject to stricter government regulation, payments are more likely to be condemned or reversed, and XRP holdings may be seized.

If you want to learn more foreign exchange trading knowledge, please click: Trading Education.

Read more

Local News