For those completely alien to the Cryptocurrency and Blockchain domain, like my grandfather, I would like to clarify the difference between Ripple and XRP. To a relative degree, it’s similar to the contrast between Whatsapp and Android.SN. Ripple XRP 1 A tech company that delivers the most dynamic solutions for money transaction globally. This software giant uses XRP ledger in its product called xRapid. Ripple owns about 60 billion XRP but doesn’t own the technology. An opensource independent digital asset with Blockchain as its underlying technology. It can’t be owned by a single entity. 2 Controlled by founders, employees and board members of Ripple Controlled by the XRP community 3 Financial institutions use ripple products Anyone can use XRP 4 Owned by anyone who own Ripple Stocks, be it employees or investors Anyone can own XRP
In the midst of all the scrutinization towards Cryptocurrencies, Ripple offers solutions that are endearing to Banks.
As reported by the Financial Times, about 18 financial institutions and banks have already begun testing services offered by Ripple. However, they are still skeptical about using the XRP token. Though Ripple can be used by individuals, that isn’t the polestar for the tech company as Ripple was put together for enterprises. The animus of Ripple is to move large amounts of money across the world, effectively and efficiently.
Since its inception, Ripple has been successful with regards to over 35 million transactions. It has the capacity to handle about 1,500 transactions every second. Sooner or later, it will be able to match the levels of VISA which can process a capacity of 50,000 transactions per second. Unlike Bitcoin, Ethereum and Litecoin; Ripple’s XRP token cannot be mined by users. Just like a company that issues stocks, XRP is issued by Ripple.Fall in Ripple’s value attributed to fallacious news, research, and models.
The attitudes towards cryptocurrency markets by crypto i...