WHAT IS XRP ||10% beneficiary to tron-fan-club
Ripple is a firm that acts as a banking system. I will love to share a lot of stuff that might interest you about XRP such as the unique node list and how is centralized.
Ripple Labs is a company that developed the XRP coin and the company's objective is to send help people send money Internationally fastest and cheaper. As you all know that is very difficult to send money Internationally because takes a lot of time and is very expensive. What the Ripple Labs company is here to solve is the problem people have to go through when sending money Internationally. Although, there is a way to send money Internationally but is it very slow and expensive and there is a currency conversion problem.
Ripple Labs created a solution to the problem of converting currency faster with the help of ripple net also known as xCurrent. xCurrent uses a unique node strategy to solve the problem of slow bank problem. Ripple can help you transfer your money Internationally faster and cheaper. The good news is that they have a system that prevents money laundering and fraud.
The Ripple Labs company also has a digital currency that is called XRP. The XRP cryptocurrency has its blockchain which is faster and cheap compared to many other Blockchains. XRP and xCurrent work together to grow the system and gain adoption.
You might whether how the XRP Blockchain validates their transactions, they don't use PoW or PoS like many blockchains use but they are using a unique node list. A unique node list is when the company selects some set of people to validate transactions on the blockchain, the majority of the node gets to decide what transaction gets validated or not. One of the reasons some people doubt the nodes is that they are validating transactions without any reward and they are concerned about the validators teaming up to create a fake transaction.
As we also know that one of the main reasons why people use a digital currency is to get away from the centralization of the bank and some people might be wondering that if XRP is centralized, why would they use it? You must know that XRP is not controlled by Ripple Labs but they can make some changes to the network just like how the nodes of Bitcoin can maintain their Blockchain. The only problem with the XRP blockchain is that the validators can team up to create fake transactions.
Ripple Labs had faced some lawsuits because the SEC claim the XRP coin is a security and not currency. The US government thought that XRP is a store of value and they do not like the idea of it being like a stock.
You should know that XRP coins have a total supply of 100 billion coins.
| Receivers | Coins |
|---|---|
| Founders | 20 billion |
| RippleLabs | 7 billion |
| Company & Individuals | 40 billion |
| RippleLab per month | 1 billion |
XRP coin is deflationary because the transaction fees are burned.
XRP is good it is just that it is centralized and the unique node list idea is a concern for people because the validator may team to create for transactions. They have an official discord where you can ask questions consigning the coin. They are a lot of people on their server with that you can share ideas and they can correct you if you are wrong on certain things.
https://twitter.com/supo229/status/1548780841375080449?s=20&t=LLvV_8qooQldcIOnRvlFLQ
Global money transfer is expensive and time consuming. Ripple lab have done a best alternative and uniqueness of their crypto validation process is also good. Nice share but you have to be an active member in our community to get curated. This is the only post in last week in this community by you. Increase your activity and engagement by comment to get better support here in TFC community. Thanks.
Ripple is one of the underrated cryptocurrencies. It's feeless and fast rate of transaction are almost unique to it
Thanks for sharing with us. Its good to know what ripple is. It quite detailed.