Explanation of Ripple

Ripple has grown widely in the last few years and is now considered one of the most important encrypted digital currencies. Although it is still incomparably cheaper than most digital currencies, we can not compare it to the Pitcullen since its purpose is quite different.

Ripple was created to support and modernize the traditional banking system, not to abolish it. It is a global settlement network which makes converting any currencies easy to everyone around the world. Thus they work closely with banks, offering them a more efficient and cost-effective way.

Before we make the picture clearer, we have to distinguish between Ripple and XRP, and XRP is a brand new type of encrypted digital currency.

So what exactly is Ripple Ripple?

Let's first begin with explaining the Ripple Ripple network, the latter based on its protocol on a technology similar to the bauxite but it is not exactly the same.

If we take bitquin for example, it is produced through mining. The Ripple is on the other hand a back-end network based on consensus. The Ripple is not a currency but an open source, universal exchange, accessible to everyone. The network is designed to replace Swift or Western Union (3 to 7 days), but using Ripple you can convert your local currency, the Dollar or the Euro ... into the Riple currency, XRP Which can be sent or received in only 3 to 4 seconds, if you want to see You can convert your local currency to XRP and send it to your friend who will receive it in less than 5 seconds and can convert the XRP to its local currency and exchange it easily, all in seconds instead of 3 to 7 days. It takes money transfer using Swift or Western Union ...

The Ripple is based on being "Internet value" - a belief that cash transfers must move as quickly as information does in a technological age.
By providing almost instantaneous transactions, Ripple is about to revolutionize the traditional financial system in a way that is different from most encrypted digital currencies. It does not provide a decentralized alternative currency that can be used to pay for goods, but provides a platform for modern cash transfers.
Ripple Ripple works primarily with banks that have been slow to respond to new technology. But there is no doubt that real-time global payments are the future.
However, the network will not exist if it is not its own currency XRP which mediates between foreign currencies.

So what is the Reuben Kwan XRP?

Now that we understand what the Ripple Ripple Network is, let's move on to its own XRP currency. In order to transfer funds via the RIBL network, a small fee must be paid from XRP. Here it is stated that no one collects these drawings, the symbols are destroyed. Unlike other currencies, the QR can not be mined XRP

The XRP Ruan is released by the Ripple Laboratories but can not be mined as calcitene or ether. A limited amount of QR XRP Raybel has been issued $ 100 billion initially, and there are 38 billion currently traded. No more will be issued in the future due to protocol restrictions.

Edden The Reebell Kwan XRP does not share decentralized nature with other encoded currencies. The RIBL Labs are controlled by the number of XRPs that are issued, and they can also control the price to make it an acceptable level.

What are the advantages of Ripple Ripple

Ripple Ripple has many advantages over other encoded cores such as:

1 - working directly with banks, which gives them more legitimacy.

1. Focuses on smart business decisions by establishing relationships with companies that dominate the global banking system.
2. Fixed and long-term price.
3. It's fast - the confirmation transaction takes only 4 seconds.
4. It can handle up to 1000 transactions per second.
5. Ripple supports all currencies and currencies encrypted.
6. Has regulatory and legal experts and businessmen.

What are the disadvantages of Ripple Ripple

The original version of the Ripple Riple allows international payments to be converted to minimum fees and maximum speed. But now focuses exclusively on the banks that turn many people from them. Here's why:

1- Al-Ralibal Laboratories have owners and executive managers, which leads to the question of its decentralized nature.

1. Due to the nature of the open network, nodes can be vulnerable to hacker attack.
2. They do not support daily payments and are unlikely to be accepted as payment of goods.
3. Not anonymous as most anonymous currencies are encrypted.

Why banks use Ripple Ripple

Obviously Ripple Ripple can benefit us all - it speeds up transactions and saves money. But do banks want to use a platform that runs counter to the current system and can reduce profits?
Well ... According to Ripple, banks can provide an average of $ 3.75 per payment using their protocol. And if banks (and other large companies) want to make money with saving money. Moreover, Ripple does not try to destroy the existing financial system but to improve it.
Everyone benefits from the implementation of Ripple - customers can enjoy the transfer of funds in a fast time, transfer funds at the lowest cost, and banks maintain millions of transactions per year.
Unlike any other encrypted currency that has a negative attitude toward the financial system, at least, Ripple is run by people with a vision and plan. This is what makes banks trust Ripple.
Currently, a few banks have already supported the RIBL, including Santander, Axis Bank KUBS, UniCredit and many more.

In the end, I hope that this article helps you understand what Ripple is, and wait for the second part of it to discuss how to buy Ripple.

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