Best information about the genuine ways to earn money online

Popular Posts

Ads

Powered by Blogger.

Featured Post

Affiliate Marketing: Do You have These 5 Qualities?

Tuesday, March 24, 2020

What actually Ripple crypto currency is?

 Ripple crypto currency
 Ripple crypto currency



Being one of the leading crypto currencies, ripple prides itself on being the cryptocurrency to connect banks with banks and other payment providers across the world with an emphasis on speed and ability to use easily on the go. Friction less Experience to Send Money Globally is the tagline of ripple currency. 

The banner on the coins placed on the website proclaims it to be the world’s only enterprise block chain solution for global payments. Almost all cryptocurrencies designate themselves as an international currency, Ripple has taken the global approach to a new level with an emphasis on being a tool for banks around the world. The coin offers benefit to individual investors and cryptocurrency advocates.

After a volatile year that saw the coin going from fractions of a penny at the start of 2017 to an all time high in the last summer, the price of ripple currency has fluctuated around one fifth of a dollar over the last three months with significant resistance in the quarter dollar value. 

When American Express had opened its first block chain corridor to exchange money between UK and the United States of America, it was considered as good news by customers. 

This technology allows the transfer of money to occur in under less than ten seconds which is significantly a far different from the one to two day transaction time from banks using other technology.

Development of Ripple coin since its establishment

Even though ripple was founded in 2013, It actually to life in 2017 when it released its new white paper. The importance of this crypto currency actually rose high when it started big transactions with major banks across the United States.

Ripple’s is basically a private block chain created by banks for them to use on for their purpose. They want to go on the Block chain to send value from one bank to the other bank.  Ripple goal is to have lower transaction fees with increased profits. 

As ripple is completely centralized and private, we can say that it is a hybrid block chain since block chain technology is usually decentralized. Keeping other things aside, Ripple is very useful and practical which can be used to address real issues in the financial sector.  Here in this article, we are also going to list the pros and cons of Ripple given below.


First let us have a look at pros of Ripple


The Ripple community on Reddit is very large and it is very well managed.  Good thing to note is engagement from both the development and corporate team and take their time to let the community know what is going on with the project. Some of the brightest individuals from cryptographer and few other talented people form a very high quality team. It is one of the biggest advantages of Ripple as of now.

Ripple is listed on ALL major exchanges

There is no illegal activity that the coin is attributed to.  If you consider Bitcoin, it is associated with the dark web but this type of thing won’t happen with ripple. 

Incase if regulation comes out that which negatively affected the whole crypto space, and then they are probably positioned to take the necessary steps to get into proper filing. Market Cap is very good at now, so you can happily invest in ripple trading. The genuineness places them at the fourth spot currently in all of the cryptocurrency market.

Once just go through the white paper of Ripple, It is just is very awesome. They tell you everything you need to know about the project from both a basic and advanced terms. 

The processing of international payments is a lot cheaper and easier than others

Ripple can carry out 1000 transactions per second with zero latency.  For example if no direct exchange is available when transacting between two different currencies at a particular instant , then you could just use the XRP , one form of ripple coin to pay.

It has partnerships with big names in the financial Industry especially in united states of America  and united kingdom As Ripple labs is growing its business constantly ,  it should create an increase demand for their coin which should keep an underlying value for the coin.

Financial institutions that are using this network have to hold a minimum amount of coins to ensure that ensure their account is valid, this brings in some value for the coin.

Cons of using Ripple

Ripple owns most of their XRP which means they basically have a whole lot of control over how much the prices increase. Well it can also be considered as one of the pro.

Ripple works closely with banks which means that if you are looking to UN stabilize the financial system, it can help you much.

Cost of the XRO on network will not be given to anyone. Instead of that it will disappear so this is the reason why ripple coins are getting fewer. 

As it is completely centralized and private users completely don’t have access to its network which is considered as major pro in ripple.

You have to b very careful while choosing a coin wallet for your crypto currencies because they neither are nor registered under the law of any country be it India or United States.

Conclusion

To understand how ripple works and how you can exchange currency in between banks by using it ,  one should understand the concept of transferring amount from one country to bank account of another country.

While doing these type of transaction, third parties will have a look over the transfers .Ripple coins functioning is same like the bank work. The only reason for intervening third parties is to reduce or eliminate the frauds or risk of losing money. As of today, ripple is at the second place among all other crypto currencies in the market.

No comments:

Post a Comment