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XRP Price today is $0.943 - XRP exchanges, XRP Price prediction, market live

Last Updated on April 18, 2021 by

ripple XRP (XRP)

$0.943
-3.27% (24H)
Watch
Market CapVolumeAvailable Supply
$44.67 B $2.80 B47.25 B XRP

XRP price today is $0.943, XRP price -3.27% down in 24h, XRP market cap is $44.67 B, XRP exchanges, XRP price prediction, price charts, market live

Ripple cryptocurrency was first introduced in 2012.

Ripple was first named "opencoin"

After it was changed to ripple labs and in 2015 the name was settled on ripple-coin.

The company behind ripple was one of the first five companies to receive BitLicense in New York.

Ripple is not really a blockchain-based technology.

It is consensus-oriented based not blockchain.

Ripple uses Ripple Protocol Consensus Algorithm (RPCA) algorithm.

It uses a HashTree to summarize the data into a single value that is compared across its validating servers to provide consensus.

Ripple’s token, XRP, is not mined like other cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc.

Instead, it was issued at its inception, similarly when a company issues stocks when it incorporates.

There is a 100M XRP token that is available for supply.

There is no limit that the company will only release 100M XRP tokens.

It can release more if such a proposition arises.

The main purpose of the ripple is to be a global settlement network.

A platform to allow anyone to transfer money in any currency to any currency in no time.

This is a revolutionary goal meant to overcome the use of older systems like Western Union or SWIFT or to completely eliminate them.

Ripple xrp network can process 1500 transactions per second has been updated to be able to scale to Visa levels of 50,000 transactions per second.

This is huge as compared to Bitcoin or other cryptocurrencies as Bitcoins can handle up to 7 transactions per second.

There are other added benefits, most important security.

For example, the bank in the USA alone loses $15 TO $10 Billion in (VISA, MASTERCARD) credit card fraud annually.

It is for this reason that the Ripple XRP network has been adopted by more than 100 other financial institutions.

They intend to use it should blockchain technology become embraced.

As more and more financial institution accepts the Ripple payment network than Ripple coin price has no limit.

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