What is Ripple? How to buy? Will it be $ 1?
Ripple is the third biggest crypto currency in the world. What is Ripple, which makes the highest output of recent times? Will Ripple, a global payment network, overthrow the Bitcoin? What is the value of Ripple? Where and how to get Ripple?
WHAT IS RIPPLE?
In 2012 Ripple was developed by Arthur Britto, David Scwartz and Ryan Fugger; a crypto currency that is not earned by mining can also be defined as the international money transfer network, which enables money transfers to be made quickly and cheaply. Ripple; distributed financial technology enables banks to send real-time international payments between networks. Ripple, traded on the market with the abbreviation XPR; It is the third largest crypto currency following Ethereum.
In 2012, the United States first appeared ripple, blockhain-based work. In the ripple network running with the ECDSA and ED25519 algorithm, 17 banks are involved in the transaction and 20 banks are in agreement and testing phase. With an investment of $ 90 million, it has succeeded to be one of the 4 largest companies.
What is the purpose of Ripple?
Head of cryptography expert David Schwartz on Ripple; Today’s payment systems are like e-mails in the early 80s. Each provider established their own system for their customers and if people were using different systems, they could not interact with each other easily. The system is designed to connect different payment systems. ”Made the description.
Ripple; It was launched to prevent transaction delays, eliminate transaction fees, facilitate international money transfer transactions and provide services to the financial market. Ripple aims to shake the throne of payment systems.
The Ripple network is designed to allow uninterrupted transfer of any currency, regardless of whether it is a dollar, euro, pound, yen or Bitcoin currency.
What are the features of Ripple?
Ripple has a centralized network that contains a single source of accuracy and cannot be exchanged. This makes operations more secure. PII data allows you to protect your transaction privacy and identity confidentiality only while remaining in your bank.
For banks that operate in different networks, they have the ability to link financial networks while providing the opportunity to process without requiring a third party. It is also very easy to integrate into existing systems.
The banks included in the Ripple network are able to transfer money at very low costs. An average transaction fee of $ 0.0011 is paid per ripple network. This value is approximately 0.0015 BTC for bitcoin; that is, its current value is about 3.5 dollars. In other words, a bitcoin process is 3000 times more expensive than a ripple process.
The funds transferred in Ripple are transferred to the other party’s account within 5-10 seconds.
Complete transaction confidentiality for each financial institution
PII data is behind your bank’s firewall
Transactions signed by using ECDSA and ED25519 algorithms
Capacity of the world to process the volume of cross-border payments
Unlimited processing possibilities
Option to access liquidity in a competitive FX market
Can work together;
Ability to trade directly for banks operating in different networks
Integration with existing systems and standards
Ability to link traditional and emerging financial networks
What is the difference between ripple and bitcoin?
Ripple is like bitcoin in many ways. Like Bitcoin, Ripple’s XRP unit is in the form of a numerical currency based on mathematical formulas and contains a limited number of units that can be ultimately removed. Both currencies can be transferred from account to account (peer-to-peer or P2P) without the need for an intervening third party. And they both provide digital security against the possibility of imitation coins.
Is Ripple competing with Bitcoin?
It positions Bitcoin as a complement to its own rather than as a competitor. In fact, there is even a page dedicated to the Bitcoinists.
Stephen Thomas, a senior developer of the protocol, said,Ripple is going to open many more gateways for bitcoin users and easier ways to connect bitcoin to the mainstream financial world.
How many Ripple will it be?
The company is finally planning to create 100 billion Ripple. The company plans to keep half of this amount in the hands of the other half is planning to release for circulation.
Where and how to get Ripple?
Some people get bitcoins and turn it into XRP. Some of them are traded on foreign stock exchanges, so we are experiencing less problems.
Bittrex, Poloniex, Bitstamp, Shapeshift is known to be the most preferred in the purchase of foreign exchanges. You can also buy from Ripple’s own site.
Will Ripple Be $ 1 At The End Of The Year?
Ripple is popular in both crypto money markets and Google trend words. I Will Ripple be worth $ 1 at the end of the year? Ti Nigeri Gren replied. Let’s not extend this, the answer is ”yes.The potential of the XRP to take this wind behind and continue is quite high.